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April 28, 2009

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dfb

From DWR: “The cost estimate for the short and long tunnel options is $7.3 billion and $7.5 billion, respectively. These estimates do not include environmental permitting or mitigation or Initial Dual Conveyance Assessment power facilities costs. Combining the cost of facilities for the Through-Delta Component with the costs for West Canal Alignment to create a Dual Conveyance System produces a range of total cost of approximately $8.6 to $17.2 billion.”

http://www.water.ca.gov/news/newsreleases/2008/061908assessmentdual.pdf

My understanding is that the difference in cost is due to design changes, the price of land, and the cost of raw materials. I seem to recall that the state also needs to buy some of the central delta islands as well but this is not part of the estimates given for the peripheral canal. The estimates were given last year during the run up in raw material prices and before the land value crash so the price estimates might have come down since. Adjusting for inflation does not always address particular regional costs not reflected well by national inflation indexes.

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