The major construction and design company Bovis has agreed to pay New York City $5 million to compensate for overcharging in more than 100 projects between 1999 and 2009.
Mayor Michael Bloomberg and his Department of Investigation announced the settlement with the company Wednesday.
“The City is firmly committed to rooting out any waste and overcharge, and this settlement reflects our determination to protect taxpayers’ money – and recoup it where it has been improperly taken,” said Mayor Bloomberg in a statement.
DOI had found that Bovis paid foremen overtime and pay that they had not earned. It said those expenses were passed on to New York City in many city-funded projects.
The Department of Investigations spokesperson, Diane Struzzi, would not say which projects or buildings were involved in the settlment.
The payment agreement stands for any potential civil claims by the city against Bovis. It resolves any potential civil claims brought by the city against Bovis, which was an agreement the company sought from the beginning of the investigation.
The multi-million-dollar payment will be deposited in the City's General Fund, where it will support municipal operations, the Department of Investigations said.
The company said in a statement that it settled with the city without admitting liability and looks forward to working with the city on future projects.