The Indiana Department of Transportation will release information Tuesday morning regarding the repair plan for the Sherman Minton bridge in New Albany. INDOT spokesman Will Wingfield says the bid deadline is 10 a.m., after which the department will prepare to award the contract, based on cost and estimated completion time.
Wingfield says the job should take about six months and cost approximately $20 million. He adds there are also rewards available if the work wraps up quickly – and possible penalties if it takes too long.
“If they get work done early, they’re eligible for incentives at $100,000 per day,” Wingfield says. “If they come in late then they’re liable for damages at $100,000 per day.”
The federal government will pay $5 million of the total cost, with Indiana and Kentucky splitting the rest.