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DOCUMENT RESORT!
02233 - (A1532530]
[Review of tbe Economic Feasibility of the Construction and
Operation of the Proposed Civic Center in the District of
Columbia]. GGD-77-58; B-118638. May 18, 19774 Released May 24,
1977. 1 pp, + 2 enclosures (15 pp.).
Repoct to Sen. Patrick J. Leahy, Chairman, Senate Conmittee on
Appropriations: District of Columbia Subcoasittee; by Robert F.
Keller, Acting Comptroller General.
Issue Area: Ficilities and material Mauagement: Building,
Buying, or Leasing Federal Facilities and Equipment (706).
Contact: Geaeral Government Div.
Budget Function: Community and Regional Development: Comaurity
'Development (451).
Organization Concerned: District of Columbia.
Coirgressional Relevance: Senate Committee on Appropriations:
District of Columbia Subcommittee.
Analysis of the District ef Columbiass proposal to
construct and operate a civic center in downtown Wash3nton did
not result in any definitive views on the economic feasibility
of the center. Findiigs/Conclusions: Major areas of
vulnerability that were identified included uncertainties about
(1) the net additional visitors the District can expect as a
result of the center; (2) final construction costs; an4 (3) the
ability of the District to provide for the effective management
seen as critical to the success of the center. The net financial
benefits to the city will be dependent on the additional
visitors the center draws to Washington. The consultant's
estimate of betw.en 310,000 and 390,000 addit4onal visitors is
far from solid, with anticipated finaucial benefits being
reduced to the extent that this estimate is overstated. The two
areas of uncertairty with regard to the final construction costs
include the very accuracy of the present $110 million estimate,
even if there are no complications, and the ability of the
District to overcome a nunLer of potential problems that could
result in cost-escalating construction delays. The consultant
advised that a year's delay will increase the construction costs
by $6 to $8 million, and if the total projected cost of $110
million increases to $120 million or more, the economic
feasibility of the center becomes questionable. (SCI](ViewImageLocal?handle=hein.gao/gaobaacgi0001&div=1&collection=&method=preview&ext=.png&size=3)