CA Voters Approve Record Number of Local Tax and Bond Measures
The results of the election indicate a continuing confidence in local government in California and the importance of the services provided by cities, counties, special districts and schools. California considered over 650 local measures on Nov. 8 and approved a record number of local taxes and bonds. They approved over $32 billion facility bonds including $23 billion in school construction bonds and $7.2 billion in transit and other local public facility improvements.
CA Auto Dealerships Use PACE to Cut Energy Use
Three dealerships of the Sullivan Auto Group have installed an extensive $5.7 million clean-energy project that's expected to cut energy use by about 87 percent. The energy upgrade work is being paid for through Property-Assessed Clean Energy financing from Placer County's mPower program, which pays the up-front cost of the upgrades, and the improvements are paid in annual property tax assessments.
CA Voters Approve $3.5B BART Bond In Bid to Improve Aging Infrastructure
Bay Area voters in San Francisco, Alameda and Contra Costa counties have passed a $3.5 billion bond to upgrade BART's infrastructure in a bid to improve the aging transit system. The BART bond will use 90 percent of the $3.5 billion to fix infrastructure and 10 percent to improve things like service.
MEDA RLF Used to Support Immigrants
It's been a year since MEDA launched its Adelante Fund for small business lending. In that time, they've made 25 loans, totaling more than $700,000. Of their borrowers, 87 percent are Latino-owned businesses, and a majority are in food and beverage.
PACE Program Coming to Oakland County CA
The Oakland County Board of Commissioners Finance Committee gave final approval to a countywide clean energy program Thursday. The Property Assessed Clean Energy program or PACE, promotes the use of renewable energy systems and energy efficiency improvements made by property owners while providing for flexible financing options on those improvement projects over 15 to 20 years.
FAQs on California's New Tax Increment Financing Tools
This report was put together by the California Association for Local Economic Development (CALED). The report discusses the New tax increment financing tools. Tax increment financing (TIF) tools work by transferring the property tax revenues that flow from a designated project area to the city, county, and other taxing entities.
CA Man Pushing for Voter Approval on Bonds Over $2B
California resident and farmer Dean Cortopassi contends that politicians refuse to either fully disclose or accept the long-term cost of billions of dollars in local and state government borrowing. This proposition would require any revenue bond of $2 billion or more to be approved by California voters.
CA's Tax Credit Program Injected $1.5B Into the State
California's expanded film incentive program attracted 55 productions in its first full year, injecting $1.5 billion into the state's economy, including $600 million in below-the-line wages, according to a report from the California Film Commission.
CA Recycling Company Receives $3.4M in Tax Credits
The rubber recycling company CRM Rubber, headquartered in Newport Beach, California, has received a $3.4 million tax credit by the California State Treasurer's Office to expand its Stockton, California operations. CRM Rubber was awarded its tax break for establishing a facility at the Port of Stockton, as well as employing close to 20 people.
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