State Approves Kaminsky's Recommendation for Aid in Long Beach
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State approves next step for Long Beach's application for aid
State officials will analyze and make recommendations for Long Beach’s finances, that, if accepted, could make the city eligible for up to $5 million in state loans or grants.
The State Financial Restructuring Board for Local Governments approved Long Beach’s application for potential state aid in exchange for state-mandated changes the city would have to follow.
Long Beach city officials applied for the program at the suggestion of state Sen. Todd Kaminsky (D-Long Beach). The state board approved the city’s application, with the state comptroller’s office recusing because it is conducting a separate audit of the city’s finances and separation payments issued at the end of last year.
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