City gives bridge loan for seniors
Los Angeles will extend a $5.1million "bridge loan" to organizations that serve senior citizens and are being affected by the state budget stalemate, officials said Wednesday. Daily News.
The failure of the Legislature to adopt a budget has held up the disbursement of $14.6 million in federal money to the city Department of Aging, placing meal programs for seniors in jeopardy.
"This means everything to us," said Linda Abrams, chairwoman of the Valley Interfaith Council. "We've been operating on a month-to-month basis and this will give us some stability."
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Los Angeles Daily News City Hall reporter Rick Orlov writes about politics on the local, state and national stage.
Thanks for the great information. I think it is wonderful that they are trying to do something to help senior citizens but I guess I'm a little confused at why they are using a bridge loan method. Aren't there several other methods that may be a little bit simpler?