So How Much “Delay” We Talking About?

Last week Lincoln Parish News Online reported that the controversial V-Vehicle Company’s construction project had been delayed due to financial problems. This past Saturday, The (Baton Rouge) Advocate reported the same thing.

So how much “delay” we talking about? We don’t know and we are quite certain we wouldn’t get a straight answer from the company or the Louisiana Department of Economic Development, even if we managed to get a phone call returned.

But we can tell you what the original project budget schedule was back when the contract was signed last June. According to Exhibit E of the Cooperative Endeavor Agreement, by this point in time over $25 million was scheduled to have been spent. By our tabulations, only about $6.2 million has been invoiced and paid by Louisiana’s taxpayers.

Herewith the budget:

    Month         Budget              Phase

Jul 2009    $2,000,000.00     1
Aug 2009   $4,200,000.00     2
Sep 2009   $6,100,000.00     2
Oct 2009   $3,700,000.00     3
Nov 2009   $9,200,000.00     3
Dec 2009  $13,000,000.00    3
Jan 2010   $17,000,000.00    3
Feb 2010   $11,900,000.00    3
Mar 2010    $8,000,000.00     3
Apr 2010    $6,500,000.00     3
May 2010   $3,800,000.00     3
Jun 2010    $1,600,000.00     3
Total        $87,000,000.00

Lincoln Parish News Online has reported extensively on the controversial company and the Monroe project. Archived stories can be found here. We will continue to report on this ongoing story.

One Response to “So How Much “Delay” We Talking About?”

  1. How much procrastination at work is normal? | Overcoming Procrastination Says:

    […] So How Much “Delay” We Talking About? « Lincoln Parish News Online […]

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