NYC Bill Could Save City $2B

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New York city's skyline.

New York governor Andrew Cuomo signed a bill on Tuesday that will allow New York officials to “fast-track the contracting process on public projects,” according to NYC Curbed. According to the New York Post, the bill allows government agencies to combine design and construction project bids into one contract to save time and money using the “design-build” method.

The Citizens Budget Commission projects this change could save the city up to $2 billion in 10 years by using design-build for bridge work alone

The new law applies to any project with a $10 million price tag, according to Curbed New York, and requires a project labor agreement to set wage and other standards. New York City has already identified 49 projects that could benefit from this method, saving the city up to $300 million.

The state used the design-build model to build the $4 billion Mario M. Cuomo Bridge, and a $1.5 billion expansion of the Jacob Davits Convention Center.

“Design Build means less red tape and more new-and-improved libraries, roads, and bridges,” Mayor Bill de Blasio said of the bill’s passage.

Sources: Curbed New York & The New York Post