Florida city takes advantage of lower construction rates

02/12/2009 | MSNBC

The city of Altamonte Springs, Fla., discovered a silver lining in the economic downturn as contractors drop their rates to stay competitive. The city has fixed 1 1/2 miles of sidewalks for $110,000 since November, which is $90,000 less than the project would have cost a year ago. "You have got to cut your costs, and you have to be so competitive and close," said Marvin Smith, of Smith Brothers Construction.

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