CIRM Responds to Financial Disparity Questions

The California stem cell agency has responded to questions involving the cutbacks and issues raised in the "Handouts vs. Cutbacks" item below.

Don Gibbons, chief communications officer for CIRM, said Klein is not personally affected by the cuts in funding for affordable housing.

We also asked:

"Does CIRM have anything to say about whether it is appropriate for it to continue handing out tens of millions of dollars or more while facilities for the deaf go unfunded and cutbacks are made in levee reinforcement to protect Sacramento from becoming another Katrina-like disaster, among the thousands of other affected projects?"

Gibbons complete response, which are carrying word-for-word, was:

"The projects being frozen are funded through Pooled Money Investment accounts and CIRM has less than $2 million in that fund.  CIRM bonds have delayed repayment schedules, so have no impact at all on this year’s budget."