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Nov 14, 2008 2:47 pm US/Pacific
SJ Mayor Reed To Request $14M In Fed Bailout Funds
SAN JOSE (AP) ―
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San Jose Mayor Chuck Reed.
CBS 5
San Jose Mayor Chuck Reed said Friday that he would request 2 percent—or $14 billion—of the federal government's $700 billion bailout package.
Reed told The Associated Press that he and several other California mayors plan to collectively present a bailout request to the federal government.
He did not know when the request would be formally submitted, nor did he say what other cities would be asking for funds.
Reed said the city of San Jose—the nation's 10th largest—needs the money to fund the extension of rapid transit and expand the area's clean technology businesses.
San Jose's total budget for 2008-2009 was $3.3 billion.
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