Wednesday, February 13, 2019

Briley dips into reserve funds for over-budget fairgrounds buildings

A project has a cost overrun!

 When will we every learn that almost ever government construction project has a cost overrun. A good rule of thumb is to assume the true cost of a project is one and half times the official original estimate.  Some government projects are multiple times the original estimate.  A cynic may be inclined to believe that projects are purposely low-balled in order to get legislative approval and public acceptance knowing the real cost will be much higher.

This latest Metro cost overrun of a project is for  the new Expo Center buildings at the Nashville Fairgrounds. It was initially supposed to cost $25 million and that is the amount the Council approved. Now, the projected cost of the Expo Center project is estimated to be $37.6 million. Mayor David Briley is dipping into a contingency fund for $5 million more than what was appropriated by the Metro Council for the project.  While this is an expenditure for replacing some of the old buildings at the Fairgrounds, which need upgrading, this was part of the soccer stadium deal and most likely it would have been less costly to upgrade the fairground building if not for the soccer stadium. If I were a cynical person I would suspect that cost were manipulated to make the soccer stadium deal look less bad for the city.

For more details, follow this link.


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