Media Advisory
SACRAMENTO – The California Infrastructure and Economic Development Bank (IBank) Board will decide whether to lend $6.7 million through its Infrastructure State Revolving Fund (ISRF) Program to the City of Paramount to increase its potable water pumping capacity, reliability, and efficiency. Project components include the construction of a new water well and associated pipeline improvements.
The Board will also consider approving $4 million of ISRF funding for the City of Laguna Beach sewage collection and treatment system. The funds will be used to rehabilitate and replace deteriorated and over-capacity sewer mains, and replace approximately 16,600 linear feet of pipeline.
What: IBank Board Meeting
When: April 24, 2018 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
