A new contractor will be named by Monday to complete the Los Angeles Police Department training center in Granada Hills, an official from the city's Department of Public Works said Tuesday.
A consortium of surety companies is seeking new bids after the original contractor, American Kuk Dong Inc., a subsidiary of a Korean company, defaulted in February due to financial problems resulting from the downturn in the Asian economy, said Brad Smith, chief deputy city engineer.
American Home Assurance Co., National Union Fire Insurance Co. of Pittsburgh, New Hampshire Insurance Co. and Granite State Insurance Co. of Pennsylvania are acting collectively as a surety consortium for the project, said Assistant City Atty. Marcia Kamine.
"Currently, subcontractors are continuing the work," Smith said.
The $24.5-million training facility is scheduled to be completed by the end of July, Smith said. The completion date was originally set for December 1997 but was later pushed to the end of April.