NY stimulus spending hits milestone - Kansas City Business Journal:

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The state has now soughft bids forprojects together, consume more than half of New York’ s highway and bridge funding, said Timothyt Gilchrist, an adviser to Gov. David Paterson. Gilchrist is overseeingt a state committee that is administering stimulus The $787 billion stimulus requires states to obligate at least half of their highway funds by June 29. States that do not meet that deadlinwe forfeit their remaininghighway funding, which will be redistribute d to states that did meet the To date, 15 states have failed to obligate at leasg half of their highway Gilchrist said.
New York has now met that requirement a month aheadof time, having advertised bids for at leas t $392 million of highway projects. “It’s one less thing that will wake me up at 3 in the Gilchrist saidon “We get to rest for about 30 seconds. And then we have to move Gilchrist said it will take several more montha to obligate all the stimulus And thestate won’t know until the June 29 deadlind whether it will get more money. “Eacuh day, people are processing projects. We won’t know until the end,” Gilchristy said.
Many of the projectxs that have been advertised so far have been in planning for a few Inmany cases, municipalities are substitutingg stimulus money for funding they had already set asid e for a project. The state Department of Transportationh will also be able to do restarting projects that had been Gilchrist said. A list of thosse projects is to be published in afew weeks. It takew up to 12 weeks from the time a projectt is announced to the time whenconstructionm begins. A typical bid period lastws four tosix weeks, and it takea just as long for the state comptroller to review and authorizd the work, Gilchrist said.
“Therre will be boots on the grounthis summer,” he For more information, see the state’s stimulus Web site: .