by Mr Link » May 28, 2010, 12:45 am
The US Army Corps of Engineers estimates the earliest possible date for completion is 2020 if Congress finds the remaining $546,704,000.00 needed to finish construction. And with the project having an estimated benefit to cost ratio of 0.73 (73 cents worth of benefit for every dollar spent) it doesn't look like Congress is falling over backwards to fund the project. Much of what has been funded so far (design work, cofferdam work and approach dredging) has been funded as earmarked projects which don't have to pass any cost benefit tests.
A 2010 fact sheet can be found on page LRD-52 at:
http://www.usace.army.mil/CECW/PID/Docu ... 10_efc.pdf
Here is a summary:
Total estimated cost: $580, 264,000.00
Allocation thru fiscal year 2008: $15,591,000.00
Fiscal Year 2009 allocation: $17,000,000.00
Fiscal Year 2010 allocation: $ 969,000.00
Balance to Complete after FY 2010: $546,704,000.00
FY 2010 activities: Continue detailed design of remaining features and complete construction contracts awarded in FY 2009.
The US Army Corps of Engineers estimates the earliest possible date for completion is 2020 if Congress finds the remaining $546,704,000.00 needed to finish construction. And with the project having an estimated benefit to cost ratio of 0.73 (73 cents worth of benefit for every dollar spent) it doesn't look like Congress is falling over backwards to fund the project. Much of what has been funded so far (design work, cofferdam work and approach dredging) has been funded as earmarked projects which don't have to pass any cost benefit tests.
A 2010 fact sheet can be found on page LRD-52 at:
http://www.usace.army.mil/CECW/PID/Documents/fact_sheets/fy10_efc.pdf
Here is a summary:
Total estimated cost: $580, 264,000.00
Allocation thru fiscal year 2008: $15,591,000.00
Fiscal Year 2009 allocation: $17,000,000.00
Fiscal Year 2010 allocation: $ 969,000.00
Balance to Complete after FY 2010: $546,704,000.00
FY 2010 activities: Continue detailed design of remaining features and complete construction contracts awarded in FY 2009.