State Cash Flow problems threaten to delay construction proj

[jean]

State cash flow problems threaten to delay construction projects



Posted: Saturday, May 30, 2015 7:00 am



State cash flow problems threaten to delay construction projectsBy Boris Ladwig Daily News





www.greensburgdailynews.com/news/local_news/state-cash-flow-problems-threaten-to-delay-construction-projects/article_6b51618f-aaff-50fc-be04-435057530187.html

[jean]

5/29/2015 - City Engineer, Street Commissioner Weighing Construction Delay Proposal

May told the board INDOT is "over-programmed" on construction money for the next three years, and in an effort to recoup some of those costs has offered some communities an additional 20 percent reimbursement of their local matching dollars on construction projects. That amount would translate to a reimbursement of $1,060,000 of the Veteran's Way project's estimated $5.3 million price tag, the city engineer said.

May cautioned that the proposal, which involves only Phase II of the project, is solely that it this point and nothing is definite; however, turning down the offer now means that the possibility is off the table permanently.
"If this appeals to anyone, now is the time to get on board with it," May told the commission.

Klosterkemper said INDOT is seeking communities who might be willing to delay construction projects as one of a few different options the department is weighing in order to regain funds due to a "significant financial shortfall," but there is no certainty the proposal will actually come to fruition.

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