Saturday, July 12, 2008

Philadelphia CC $100 million over budget

According to the July 12 Philadelphia Inquirer, Governor Edward Rendell says that expansion of the city's downtown convention center is "getting to the point where the cost will outweigh the benefit."

The article goes on to state "Officials now acknowledge that projections show the rapidly surging prices of those commodities, as well as copper and aluminum, may push construction costs considerably higher than the budgeted $700 million."

The $700 million is being funded from State proceeds from slot-machine parlors.