Sacramento – The California Infrastructure and Economic Development Bank (IBank) Board will decide whether to approve $4-million in financing for the City of Ukiah through IBank’s Infrastructure State Revolving Fund (ISRF) program.
Ukiah will use the funds to make traffic and pedestrian improvements in the City’s Redwood Business Park to reduce traffic and accidents at the historically troubled South State Street/Talmage Road intersection. According to City officials, Ukiah has needed the improvements since 1989, and the project is expected to ease congestion through 2030.
In addition, the funds will upgrade the US 101 freeway ramps at Airport Park Boulevard that serve local businesses. City officials expect the project to attract new businesses, which will provide permanent jobs for area residents.
What: IBank Board Meeting
When: May 23, 2017, 2:00 PM
Where: Steinberg Conference Room, 1325 J Street, 17th Floor Sacramento, California 95814. Board Meetings are open to the public. Please be sure to have your government issued identification (driver’s license) with you for entry into the building.
About the California Infrastructure and Economic Development Bank
IBank was created in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities. IBank is located within the Governor’s Office of Business and Economic Development and is governed by a five-member Board of Directors. IBank has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, leverage State and Federal funds and provide loan guarantees and other credit enhancements to small businesses. Find more information on our website.
Gabrielle Stevenson
Public Information Officer
Email Gabrielle, HERE
