Download or read book District of Columbia Status of the Proposed New Convention Center Project written by and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book District of Columbia written by United States. General Accounting Office and published by . This book was released on 1996 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book District of Columbia status of the new convention center project written by and published by DIANE Publishing. This book was released on with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book District of Columbia written by and published by . This book was released on 1997 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book District of Columbia written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-05-29 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: District of Columbia: Status of the New Convention Center Project
Download or read book District of Columbia written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO reviewed the Washington Convention Center Authority's (WCCA) efforts to arrange for financing and constructing a new convention center in the District of Columbia, focusing on the: (1) estimated cost of this project, including the guaranteed maximum price (GMP) for constructing the new convention center, and the risk exposure for both the contractor and the District; and (2) financing plan, including proposed changes to the revenue base, history of dedicated tax collections, projections for future revenues, and sufficiency to cover the GMP and other project costs. GAO noted that: (1) WCCA is proceeding with efforts to build a new convention center at Mount Vernon Square at a cost WCCA officials estimate to be $650 million; (2) this estimate has not changed since GAO reported on this project in September 1997; (3) however, GAO's latest review of the project identified an additional $58 million in project costs which--because WCCA expects them to be funded through federal grants or moved into future operating costs--are not included in WCCA's total project costs; (4) these costs raise the project's cost estimate to $708 million, excluding reserve requirements and financing costs of $138 million; (5) the majority of the estimated project costs are covered in a $500.6-million GMP for construction; (6) the GMP lays out 22 different cost components and sets limits on financial risks to the construction manager, Clark/Smoot; (7) areas of risk are not included in the $500.6-million price; (8) an estimated $207 million in other project-related activities will be or have been contracted for separately; (9) WCCA's current financing plan to cover predevelopment, construction, reserves and operation of the convention center calls for about $846 million; (10) seventy-three percent of the funds needed to finance the project are expected to be derived from revenue bonds supported by dedicated taxes; (11) changes from the previous financing plan include increasing the term of the bonds as well as the dedicated taxes to allow WCCA to borrow more money for the project; (12) WCCA received $44 million in dedicated taxes in 1997, and WCCA has projected collections to increase at 1 percent per year over the next several years; (13) these and other factors will be looked at by WCCA's consultants, rating agencies, and bond insurers who will evaluate the financing package and determine its ability to cover the GMP and other project costs; (14) risks associated with the financing package could affect the rating of the bonds and accordingly, the interest rate; (15) although WCCA plans to address an $18-million reduction in its construction budget by negotiating arrangements with vendors to provide equipment and services, to date there are no executed contracts to cover these arrangements; and (16) the site selection process for the convention center has a long history and numerous studies have consistently identified Mount Vernon Square a preferred site.
Download or read book District Of Columbia Status Of The Proposed New Convention Center Project AIMD 97 148 B 278005 159308 U S GAO September 25 1997 written by United States. General Accounting Office and published by . This book was released on 1998* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book District of Columbia written by and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aimd Oce 98 238 District of Columbia written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-02-09 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: AIMD/OCE-98-238 District of Columbia: Status of the New Convention Center Project
Download or read book District of Columbia written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-05-23 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: District of Columbia: Status of Convention Center Project
Download or read book District of Columbia written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new convention center is being constructed in accordance with the Washington Convention Center Authority Act of 1994, which authorizes the Washington Convention Center Authority (WCCA) to construct, maintain, and operate a new convention center while continuing to maintain and operate the existing convention center. GAO reviewed (1) issues related to the Revised Guaranteed Maximum Price agreement (RGMP) set in January 2002; (2) the status of construction and significant construction issues that could delay completion of the project; (3) whether the January 2002 estimated total project cost of $799.5 million has changed, and if so, the causes and nature of the changes; and (4) whether WCCA's funding appears to be sufficient to cover the current estimated total project cost. GAO found that on January 31, 2002, the RGMP was set by the construction manager and WCCA at $590.7 million. As of June 30, 2002, the RGMP has increased by $7 million to $597.7 million. The project construction schedule established by the RGMP includes deadlines for (1) substantial completion of convention-ready areas by March 31, 2002; (2) substantial completion of all remaining areas by June 30, 2003; and (3) final completion by October 1, 2003. As of July 2002, the convention center construction activities were 80 percent complete. Although WCCA is behind schedule and has identified several significant construction issues, it is working to address these issues. A critical milestone that must be achieved for WCCA to maintain the construction schedule is completing the facility's exterior shell, which is anticipated to occur in December 2002. According to WCCA, the total estimated project cost remained at $799.5 million as of June 2002. However, WCCA has identified several factors that will increase the project cost. The estimated project funding available as of June 30, 2002, was $822.5 million, which is $6.8 million more than the $815.7 million projected as available during June 2002. WCCA officials said that they believe the available funding will be sufficient to cover the total estimated project costs.
Download or read book District of Columbia written by United States. General Accounting Office and published by . This book was released on 1996 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book District of Columbia written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-02-03 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: District of Columbia: Status of Construction of the Convention Center
Download or read book District of Columbia written by Gloria L. Jarmon and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The New Washington Convention Center written by United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on the District of Columbia and published by . This book was released on 1999 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Status of Construction of the Convention Center written by United States. Congress. House. Committee on Government Reform. Subcommittee on the District of Columbia and published by . This book was released on 2003 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book District of Columbia written by United States. General Accounting Office and published by . This book was released on 2000 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
