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RCED-96-65R 1 (1996-01-18)

handle is hein.gao/gaobaclaz0001 and id is 1 raw text is: United States GAO General Accounting Office Washington, D.C. 20548 Resources, Community, and Economic Development Division B-260786 January 18, 1996 The Honorable Frank R. Wolf Chairman, Subcommittee on Transportation Committee on Appropriations House of Representatives Dear Mr. Chairman: On January 11, 1996, you asked us to report on our ongoing review of the Central Artery/Tunnel (CA/T) project--a federally aided highway project in Boston, Massachusetts. Our ongoing work follows up on our June 2, 1995, report to you on the project.' This report provides updated information on the project's estimated cost and the Commonwealth of Massachusetts' plans for financing the project. The CA/T project is an Interstate Highway System project that will build or reconstruct 7.5 miles of urban highways in Boston--about half of it underground. At over $1 billion a mile, the CA/T project is one of the largest and most expensive highway construction projects ever undertaken. In 1995, the Commonwealth of Massachusetts estimated that the cost of the project was $8 billion, up from its 1985 estimate of $2.6 billion.2 As of December.31, 1995, the federal government had provided about 80 percent of the project's funding, and had obligated $4.4 billion for the project. Massachusetts also estimated that available federal and other funds would be sufficient to complete the CA/T project by 2004 and to continue to fund other statewide transportation projects. These estimates were based on the Massachusetts Department of Highways' (MHD) draft April 1995 cost estimate and its draft December 1994 finance plan. Our 'Central Artery/Tunnel Project (GAO/RCED-95-213R, June 2, 1995) 2The $8 billion estimate represents expenditures already incurred, valued in the year they were incurred, and future expenditures valued in 1994 dollars. GAO/RCED-96-65R, Central Artery/Tunnel Project

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