Lafayette airport officials look at new financing method

LAFAYETTE, La. (AP) – Lafayette Regional Airport commissioners next week will decide whether to endorse a relatively new method of constructing public projects for a new $90 million passenger terminal.

Called “construction manager at risk,” project consultant Walt Adams said Tuesday the financing approach could lead to the terminal being completed by 2019 instead of 2020 or later.

The Advocate reports (http://bit.ly/1zMaqZe) Adams has endorsed the CMAR method since he was hired earlier this year to give commissioners guidance as they act on a complicated project.

The financing method brings the construction company in at the beginning of a project, during the design phase. Adams said that allows projects to be completed more quickly, in part because a builder is able to start constructing some parts of the terminal before the design is completed.

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Information from: The Advocate, http://theadvocate.com

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