Giving Compass’ Take:
• California Mayor Gavin Newsom cancels the $77 billion high-speed rail plan and instead wants to focus those funds on more needed areas such as agriculture and the housing and homeless crisis.
• How exactly will these funds be distributed to other pressing issues that California is facing?
Gavin Newsom has said he is abandoning a $77bn plan to build a high-speed rail line between Los Angeles and San Francisco and will focus instead on completing a 119-mile (190km) segment in the state’s agricultural heartland.
Voters approved a ballot measure in 2008 calling for the linking of northern and southern California, a rail project initially estimated to cost $33bn and be completed in 2020. Subsequent estimates more than doubled the cost and pushed the timeline to 2033.
“Let’s be real,” the California governor said on Tuesday in his first State of the State address. “The current project, as planned, would cost too much and, respectfully, take too long. There’s been too little oversight and not enough transparency.”
Read the full article on California canceling plans for high-speed train by the associated press at The Guardian
If you are looking for more articles and resources for Economic Dev, take a look at these Giving Compass selections related to impact giving and Economic Dev.
Are you ready to give?
Economic Dev is an important topic. Other members found these Giving Funds, Charitable Organizations and Projects aggregated by Giving Compass to be relevant to individuals with a passion for Economic Dev.