Thursday, February 17, 2011

Congress Acts to Cut 15 Million Dollars from the Presidio

Today, February 17, the House of Representatives voted to cut 15 million dollars that was expected by the Presidio Trust. There are chances for this money to be restored later, but presidiopal thinks that is unlikely. Congresswoman Pelosi fought to keep the money for the Presidio by pointing out that it was to be the last appropriated funds for the park under the arrangement of the Trust Act. The principal effect of this cut most likely will be to defer rehabilitating some historic structures. In effect, this cut moves the date for the Presidio to be financially self-sufficient, as the Trust Act requires, from 2013 to 2012.

It remains to be seen if the Trust will use this cut in federal funds as an excuse to build commercial activities on the Presidio such as the proposed hotel.

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