The Pasadena Star News is reporting that cities without so called shovel-ready projects (ie transportation projects that are ready to break ground and can receive federal stimulus money) are selling those funds to other cities for cash. Fascinating. Examples via the paper: "The city of Bradbury, with a population of roughly 1,000, is working on a deal to sell its $500,000 share of federal funding doled out by the MTA to the city of Torrance for $315,000 in cash for its general fund, according to Torrance officials. Torrance, which was allocated $2.9 million by the MTA, plans to use the extra funds for a variety of street improvement projects, including a major reconstruction and expansion of Crenshaw Boulevard, one of the city's main thoroughfares, said city manager LeRoy Jackson. La Habra Heights, a city of 6,000, has sold its $500,000 in federal funds to the city of Westlake Village for $310,000 cash. Irwindale, population 1,500, also sold its $500,000 to Westlake Village, for $325,000 cash." Stimulated, shovel-ready, and now swapping: Is this all sounding sort of pervy? [Pasadena Star News]
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