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Gold Line Contract: Major Savings

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As expected, the Construction Authority for the Gold Line Foothill Extension from Pasadena to Azusa awarded a $486 million construction contract yesterday to a joint venture of companies Kiewit and Parsons. The good news is that the bid was $72 million under the next lowest bid, according to the Arcadia Patch. The project is slated to open in 2015, while construction alone "will generate 6,900 new jobs and $930 million in additional economic activity," Christine Cooper of the LA Economic Development Corporation said at yesterday's Gold Line board meeting. [Arcadia Patch]