The California State Debt Limit Allocation Committee Wednesday announced its allocations for the state’s $3.107 billion private-activity bond volume cap.

“This money will create much-needed economic activity in California, and provide our workers thousands of jobs, by giving housing developers and businesses a low-cost alternative to traditional financing,” state Treasurer Bill Lockyer, the committee’s chair, said in a statement. “More than that, the financing will let families take their first step toward the American dream of homeownership and help their children strengthen their future through higher education.”

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