$500 Million Loan To Help Oroville Dam Spillway Repairs

OROVILLE (CBS13) — As crews rush to make repairs at the collapsed Oroville Dam spillway, California is borrowing hundreds of millions of dollars to get them done.

For now, the state has taken out a loan and is hoping to recoup a bulk of the cost, but there will be some leftover debt that could fall on the folks who rely on water from the Oroville Dam most.

Eighty-nine days into the Oroville Dam crisis, the California Department of Water Resources confirms it will now be half a billion dollars more in debt as it gets ready for further repairs.

On Monday, the department confirmed to CBS13 that it has taken out a line of credit, borrowing $500 million to fix the damaged spillway.  So far, $67 million of that has already been used.

President Donald Trump declared a major emergency, opening up the doors to federal assistance. According to The Sacramento Bee, the state will still seek reimbursement from FEMA, the Federal Emergency Management Agency-  for 75 percent of the cost of the dam’s permanent repairs. The rest of the money would be paid for by water customers- mostly agri-businesses and water users in Southern California- not state taxpayers.

On Tuesday, crews are expected to blow up a portion of exposed rock to improve access to the main spillway.

More from Angela Greenwood
Comments

One Comment

  1. Sounds to me like there is plenty of money going into other things besides the repair.

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