Calif. Rapid Rail Project Hangs On Federal Funds, GAO Says

Law360, New York (December 6, 2012, 5:14 PM EST) -- Cost projections and funding plans for the $68.4 billion high-speed rail project in California are comprehensive on major construction costs but highly dependent on future federal funding and reliant on limited data, according to a report released Thursday by the U.S. Government Accountability Office.

The GAO said the cost estimates of the California High Speed Rail Authority (CHSRA), the operator of the blockbuster rail project, comprehensively break down the expected construction and operating costs in accordance with the best practices of the GAO's cost guide. But...
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