Caltrans white paper: Payments to contractors at risk
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.
From our partners
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- VIDEO: Caterpillar builds world’s tallest sand castle, then destroys it 894 Views
- Sand saves a construction worker's life488 Views
- Last second Christmas gift ideas for construction workers217 Views
- Congress passes $1.1 trillion spending bill; cuts billions from federal construction accounts165 Views
- Get operations off to a good start with sound mine planning153 Views