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January 2010. This social network site was established in December 2008 in response to the State of California's "freeze" on thousands of projects funded by general obligation bonds. Many organizations and institutions who have been part of this network were affected by the state's fiscal crisis, and their work to enhance California's environment, clean up degraded and polluted areas and improve everyone's quality of life was literally halted overnight.
Most of the state's contribution to environmental protection and resource conservation programs came from the voters periodic approval of general obligation bond measures, which were in turn sold in the bond market by the State Treasurer. In 2008, due to the recession and a lack of demand for state bonds, California took the unprecedented step of suspending contracts and grant agreements funded by bonds. This extended far beyond environmental programs to include transportation, water infrastructure, affordable housing and other capital investment programs.
Although many of the then-frozen grant agreements and contracts have been allowed to restart, and cash-flow has stabilized, the state is going through a never before experienced period of prolonged insolvency. That means that existing and approved projects may be funded through completion, but as of early 2010, the state is still under so much financial pressure, that no new projects are being approved, and completing existing project funding through mid-year is contingent upon the State Treasurer having at least 1-2 successful bond sales before June.
This site is not particularly active at this time, not maintained on a daily basis, but we will clean up the random marketing blog posts, and keep everyone posted on major developments related to California's bond funds and environmental programs.
John McCaull
Law Offices of John McCaull
