Posted on 08/18/2015 9:11:58 AM PDT by pabianice
A scathing independent audit of Boston 2024's Bid 2.0 ordered by state government leaders found the economic impact likely would have been lower than projected by Olympics supporters and the costs likely would have been higher, according to the report released today.
"Past experience suggests that Boston 2024 would have been unlikely to meet those cost estimates, and a more reasonable cost estimate would have been over $970 million higher than reported in Bid 2.0.," the report said.
Governor Charlie Baker, Speaker of the House Robert DeLeo and Senate President Stan Rosenberg commissioned the report earlier this year in order to get an independent analysis of the costs and benefits of hosting the Olympics.
Baker's refusal to commit to supporting the Olympics without the information from the Brattle Group reportedly played a part in the United State Olympic Committee's decision to pull the bid last month.
The report also said Boston 2024's economic estimates were unrealistic.
(Excerpt) Read more at bostonherald.com ...
Never mind the cost overruns, which would have been horrific; Boston can’t handle normal rush-hour traffic, never mind Olympic size traffic jams.
This was the best Olympics to never happen in Boston.
See "Dig, Big.."
Anybody who follows these mega-type projects clearly sees consistently original cost estimates are off by hundreds of percent. Boston escaped a big white elephant.
re: “Dig, Big..” aka “Union Worker Early Retirement Plan”.
I’ll see your $1,970,000,000 and raise you a billion or two.
I am surprised. Boston has a stellar reputation in big project cost management. (sarc)
In a kinda related story, a new VA Medical Hospital in Aurora Colorado was estimated to be built for $328 million
the cost is currently up to $1.7 Billion.
Heck it would have cost that much more for all the Kennedy family liquor bill just to get them to show up to grace the events
> Boston has a stellar reputation in big project cost management. (sarc)
I know that. My office overlooks the Longfellow bridge which is the main link between Cambridge and Boston. Rebuilding it was originally scheduled to be completed this October. Not even half of one side is complete and the latest “estimate” is late 2018.
This extreme cost overrun is causing needed and long-planned projects at VA hospitals and rehabilitation facilities all across the country to be delayed.
Nah... wouldn't have been a problem.
Traffic disaster was predicted for the Los Angeles Olympics when we lived there. It never happened because all of the locals chose that period to go out of town on vacation...:^)
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