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When the city of Cleveland put a new terminal at Hopkins International Airport, the price tag for the project was estimated to be $13.5 million.
That’s how much money the city had in its contingency fund for any disruptions or delays that could take place.
But since the project kicked off, the price tag has increased to $15.5 million, said city spokeswoman Maureen McGowan.
What’s more, the project now has an additional $14.3 million worth of cost overruns, she said.
“In the beginning, when they thought they would open up the new terminal, they thought they could build the facility, it would cost $13.5 million, and the project would be finished in the fall,” she said.
Those expectations were based on a $1.5 million estimate of how much it would cost to move equipment and furniture to a new location.
The $1.5 million figure was based on the city’s track record in the past, McGowan said. It included moving a terminal, the Cleveland Aircraft Corporation building, to the same site in 2009, as well as moving the jobs training center off Cedar Road to the site of the new airport.
This time around, however, the city will need to move a lot more equipment than it has in the past, such as surveillance equipment. The city also has a lot more workers and equipment needed to complete the project.
“It has been underestimated,” McGowan said.
City Council President Martin J. Sweeney was not present when the city made the announcement of the project’s price tag.
Council’s Finance Committee is scheduled to hold a public hearing on the project tonight.
The airport project has been running over budget and behind schedule since it was announced in 2008.Unlabelled
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Koch brothers
One of the prime culprits of the deepening financial crisis is the increase in the income of the top 1 percent.
The political elites in the US, Europe and elsewhere are obsessed with social justice and income equality. But their policy prescriptions would worsen the situation.
The top 1 percent of earners in the US increased their income by a massive 11. ac619d1d87
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