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
Famous quotes containing the word cost:
“Life! Life! Don’t let us go to life for our fulfilment or our experience. It is a thing narrowed by circumstances, incoherent in its utterance, and without that fine correspondence of form and spirit which is the only thing that can satisfy the artistic and critical temperament. It makes us pay too high a price for its wares, and we purchase the meanest of its secrets at a cost that is monstrous and infinite.”
—Oscar Wilde (1854–1900)