U.S. Rep. Sam Graves (R-MO) recently introduced legislation to permit the use of incentive payments to expedite certain federally financed airport development projects.
“Delivering projects ahead of schedule can save money, which in turn can have the same economic impact as increasing investment without any additional federal resources,” Rep. Graves said. “This bill is a win-win for all involved, including taxpayers.”
Rep. Graves on Feb. 14 sponsored the Expedited Delivery of Airport Infrastructure Act of 2020, H.R. 5912, with bill cosponsor U.S. Rep. Garret Graves (R-LA) to ensure that Airport Improvement Program (AIP) funds may be used by airports to incentivize early completion of critical runway and airport projects.
The AIP program provides grants for the planning, development and execution of infrastructure projects at public-use airports, such as runways and taxiways.
“When it comes to infrastructure projects, time is money,” said Rep. Sam Graves, who is the ranking member on the U.S. House Transportation and Infrastructure Committee, which is reviewing H.R. 5912.
“This is a good government bill: a simple but important step to help prevent project delays for airports and their surrounding communities that rely on those facilities for both travel and business,” he added.
If enacted, H.R. 5912 would authorize an incentive payment to a contractor upon early completion of a project if the payment does not exceed the lesser of 5 percent of the initial construction contract amount or $1 million; if the level of contractor’s control of, or access to, the worksite necessary to shorten the duration of the project does not negatively impact the operation of the airport; and if the contract specifies application of the incentive structure in the event of unforeseeable, non-weather delays beyond the control of the contractor, among other provisions listed in the text of the bill.