""State officials have been working feverishly to explore other options since April, but it seems with no new news in the last few days, that the clear option that would make Valero stay didn't work in their best interests," Giuliani said. "Certainly as a city manager and longtime resident I'm disappointed that a solution wasn't made. This is not only going to impact Benicia, but California as well. It's frustrating, because the city was finally in a position to turn the corner.""
"Giuliani said that there is $60 million in the general fund budget and that it will now have to be reduced by $7.7 million by July. Despite the grim news, Giuliani tried to sound optimistic on Monday. "It's a problem we're going to have to solve and it's certainly difficult," Giuliani said. "But while a difficult challenge, Benicia has been given the pen to be the author of the next chapters of the cities history.""
Valero Energy's subsidiary submitted notice last April to the California Energy Commission signaling intent to idle, restructure, or cease refining operations at the Benicia Refinery by the end of next April. Benicia can now proceed with closure in April or possibly sooner. State efforts to persuade Valero to stay proved unsuccessful, prompting warnings of significant and seismic changes for the city and region. The city manager reported a $60 million general fund that requires a $7.7 million reduction by July. Legislators advanced Senate Bill 237 with strong bipartisan support, but a solution to prevent the shutdown did not materialize. City leaders emphasize the need to plan for economic transition.
Read at The Mercury News
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