Monday, August 17, 2009
The Ford Ord Reuse Authority has received $6.4 million in stimulus funding to finance infrastructure improvements at the former military base, Congressman Sam Farr's office announced today.
The grant from the Economic Development Administration comes as construction on Fort Ord has slowed to a halt with housing projects stalled and FORA, which is dependent on development fees, strapped for cash.
"The redevelopment of former Fort Ord land really picked up speed over the last few years, but the economic slump put a quick stop to that,” Farr said in a prepared statement. “This Recovery Act grant is arriving in the nick of time and will put our redevelopment plans back on track. It’s one of a series of vital injections of capital the Recovery Act is sending our way, funds that our Central Coast economy urgently needs.”
Monterey County has received more than $63 million in federal stimulus money, half of which is earmarked for transportation projects, according to data complied by website ProPublica.