Gov. Gavin Newsom indicated Wednesday that he would back a $750 million loan aimed at rescuing Bay Area transit systems after his administration and lawmakers missed a key deadline this week to finalize the deal.
State of play: Newsom’s office and California’s Department of Finance are hoping to approve the loan over the fall, H.D. Palmer, a spokesperson at the Department of Finance, told Axios.
Between the lines: Newsom’s Wednesday announcement indicated the state will offer short-term financial assistance to support Bay Area transit with an unspecified sum of “hundreds of millions of dollars.”…