The big news this week was the signing of the stimulus on Tuesday. While a tremendous sum of money is now available to state and local governments for the funding of infrastructure projects, clean energy projects, and projects to increase energy efficiency there is one burning question which many still have: What do we need to show to receive the money and begin the work? In order to be truly shovel ready a project must:
1) Have the project totally designed, including all engineering drawings
2) Have all environmental work, such as environmental impact statements completed
3) Not currently be receiving Federal funds for the project in question (This will limit many highway and road projects)
4) The project must be ready to begin work within 90 days
The optimism created by the passing of this week’s stimulus bill is misplaced. Most projects which will obtain funding under the “shovel ready” provisions will have little impact in overhauling our nation’s infrastructure. The 90 day requirement will largely limit these funds to projects such as road resurfacing or other such projects will be minimal in both economic impact. Any project which will have long term economic and social benefits will take longer than 90 days to develop and be ready for construction to begin. Do you know of any impressive shovel ready projects? For a more in depth of the stimulus and its affects on the construction industry check out Chris Cheatham’s blog at www.greenbuildinglawupdate.com
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