DonLibes
Premium,ExMod 2001
join:2003-01-19
| reply to JTRockville
Re: MC: falling apart and here's why
said by JTRockville  :The Post also mentions the MC's #1 money pit: STRATHMORE Sorry but Strathmore is not even close to the money monster that is the ICC.
Admittedly, Strathmore is a good example nonetheless. Originally budgeted at $68 million, it came in at roughly $100 million (how can you have a project go 47% over budget??) plus I see now that the center is selling naming rights for the music center for $15 million, the concert hall for $10 million and the education center for $5 million (I can see it now - The Comcast Center for Excellence in Education at Strathmore) so it evidently really cost another $20 million that we were never told about. More disinformation: Strathmore claims to be self-supporting but that doesn't include $1 mil in operating expenses that county taxpayers pay annually.)
And did you know that MC has been named as a co-defendent in a lawsuit by a contractor for nonpayment of work done on Strathmore. Damages sought: $724K. And a 2nd company is preparing to file suit for $1M for nonpayment. (If a judge ruled for the plaintiffs, it would allow them to take possession of the property if not paid.) Evidentally, MC really has yet to make final payments, roughly about $10M. I don't understand why but it has something to do with MC failing to obtain a performance bond (they were too cheap apparently?) like they should have.
»www.washingtonpost.com/wp-dyn/ar···r19.html
Anyway, if you think that's bad, wait til we start paying for the ICC. Then we'll talk pain! Oh wait, we'll just sell naming rights ... |
