Caltrans white paper: Payments to contractors at risk
Tina Grady Barbaccia | August 11, 2010
Caltrans on Aug. 11 released a white paper that highlights the negative economic impacts the budget delay is having on transportation projects statewide.
The effects of the delayed budget are being felt as the California Transportation Commission meets today and tomorrow.
Funding for transportation projects worth more than $2.1 billion that are contingent on the approval of the state budget may either be deferred or delayed. These include projects funded by Proposition 1B, the transportation bond approved by state voters in 2006.
In addition, the department cannot award more than $900 million in new contracts to construction firms, and payments to contractors on $9.5 billion of current construction may be delayed in the coming months due to the lack of available cash.
MORE FROM Economics
- Oopsie! DOT forgets to spellcheck interstate sign2083 Views
- Road worker killed while picking up construction cones1316 Views
- The state with the best roads in the country is...891 Views
- 3 tips for staying safe inside road construction work zones540 Views
- Senate passes highway bill, vote sent back to house353 Views