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Southeastern Pennsylvania Transportation Authority (SEPTA) recently terminated its $74 million contract with the prime contractor responsible for reconstructing the Cobbs Creek portion of the authority’s Market Street Elevated reconstruction project.

Contract violations include failure to provide and install materials and equipment, and failure to meet schedule, according to SEPTA.

As of Nov. 1, the Cobbs Creek portion of the project — between 62nd Street and Millbourne Station — was 712 days behind schedule and contractor PKF-Mark III Inc. failed to meet contract terms, according to SEPTA.

In February, the contractor agreed to a 90-day monitoring period and a revised recovery schedule. The authority evaluated eight project milestones and to date, none have been met, the authority says.

Until SEPTA awards a new construction contract, the work site will be secured so the authority can continue to operate Market-Frankford Elevated trains. Originally, the project was scheduled to be complete in 2008. Now, SEPTA officials aren’t sure.