Santa Clarita to Lend Road Money to County
The Santa Clarita City Council has agreed to lend Los Angeles County $1 million in road construction funds to make up for a decline in county income caused by the slump in the housing market.
The loan will go toward the $7-million extension of Whites Canyon Road from Soledad Canyon Road to Sierra Highway. Santa Clarita and county traffic engineers have called the project, which would create a major north-south artery in the eastern half of the city, the area’s No. 1 priority.
The council approved the loan Tuesday night. The money will be transferred from two of the city’s road construction accounts.
Developers pay road construction fees to the county based on the number of units they build. The recent drop in new units has left the project with a shortfall of about $7 million, said Donald L. Wolfe, deputy director of the county Department of Public Works.
To keep the project on schedule, the county asked the city for the loan and transferred $6 million from other construction accounts.
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