Funding and Cost Overruns
The project suffered significant cost overruns during its construction. Final cost was nearly four times the initial estimate, a development that nearly led to the tram's cancellation mid-construction. Operating costs are nearly twice original projections. When the city approved the tram project, it was understood that OHSU would pay for most of it. While the taxpayer share has grown, OHSU paid for 85% of the total cost of the tram though it is operated as public transit facility.
Read more about this topic: Portland Aerial Tram
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“Keeping accounts, Sir, is of no use when a man is spending his own money, and has nobody to whom he is to account. You won’t eat less beef today, because you have written down what it cost yesterday.”
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