The construction project that will shut down a section of the 405 freeway this weekend has been dubbed “Carmageddon” for a good reason: That stretch of road is used by 281,000 vehicles per day, making it one of the world’s busiest.
City officials have allotted 53 hours for the construction, and are serious about keeping it on schedule. NBCLA breaks down the financial incentives for finishing on time:
Kiewit Infrastructure, the company that originally built the overpass and will now be removing it, will be docked $6,000 for every 10 minutes they pass the deadline for each direction of the freeway—as much as $12,000 for the north and southbound lanes. That’s about $72,000 per hour.
If only you’d thought of a contract clause like that when renovating your kitchen.