Fear Factored: Carmageddon Contractors Will Be Docked $6K for Every 10 Minutes 405 is Closed Past Deadline

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The 405 Freeway in the Sepulveda Pass (Photo by aalorber via LAist Featured Photos on Flickr)

Motorists who use the 405 Freeway to get to work weekdays have one serious stress point: What if the 405 isn't re-opened in time for their commute the morning of July 18th, post-Carmageddon? Metro and Caltrans have been firm in saying "don't worry," but now comes word there's a price tag attached for contractors if they aren't done in time.

Contractors working on the massive project "will be penalized $6,000 for every 10 minutes they are late, transportation officials said Monday," reports L.A. Now. (That's $36,000 per hour, for the non-mathematicians out there.)

But there's a sort of double-down approach being taken by transportation officials:

Because construction will take place on both the northbound and southbound portions of the freeway, officials will consider each side separately.
This means that if construction on both directions of the freeway is not completed on time, contractors could be fined on each side — in other words, fines could be up to $12,000 for every 10 minutes late.

So what if they finish early? Looks like those contractors will get a hearty handshake and some kudos, but no cash: "[N]o bonuses [will] be paid if contractors [finish] early."

The 405 Freeway is scheduled to re-open at 5 a.m. Monday morning, after 53 hours of being closed between the 101 and the 10 freeways to allow for the demolition of the Mulholland Bridge.