Ravenwood - 06/27/05 06:00 AM
You may want to sit down for this one. The Washington Post reports that the government misunderestimated the cost of a public works project.
The engineering firms developing the plan to extend Metrorail through Tysons Corner told Virginia transportation leaders yesterday that the project as envisioned will probably cost $2.4 billion, a 60 percent increase over the previous estimate and a price that far outstrips the carefully negotiated financing agreement.The extension is supposed to attract 15,100 new daily riders. That equals out to $158,940 per rider.
Our local school system has a $4 million project that will finish out at $18 million.
Posted by: Michael at June 27, 2005 9:04 AMWasn't it Heinlein who said that an elephant is just a mouse designed with government specs? Sounds like a case of that now.
Posted by: Robert Garrard at June 27, 2005 5:11 PMHey...you think that's bad...do some looking around on the Seattle Monorail extension. www.soundpolitics.com is a good place to start.
Are you sitting down?
Just the financing, they're looking at $11 BILLION. With a 45 year finance period. The project itself is supposed to cost I think $1.9 billion.
Of course, this is in the same county where they still haven't accounted for all their ballots in last November's election. So we know they can't count over there.
Posted by: Heartless Libertarian at June 28, 2005 7:48 PM(c) Ravenwood and Associates, 1990 - 2014
