In 2009, Imperial Beach lost millions when the State ‘borrowed’ from its coffers as part of its budget solution. The money that was lost was marked for captial improvements to the city.
Now, the city has turned to bond money to start those projects moving again.
From the San Diego Union-Tribune:
Imperial Beach officials are counting on $16 million in redevelopment bonds approved Wednesday to provide a catalyst for economic activity.
The money will be spent on capital improvement projects the city set aside in 2009 when the state borrowed millions from the city’s redevelopment fund.
Though no money has been committed to specific projects, officials are looking at much-needed improvements at the Marina Vista Center, the Sports Park and the SeaCoast Inn.
Read the full article here.