By JOHN STANG
What's the likelihood that Seattle's ambitious Alaskan Way Viaduct tunnel will finish on time and on budget?
State experts believe it will -- with caveats.
Mayor Mike McGinn doesn't really think so -- wanting Seattle off the financial hook for any cost overruns, with the state picking up any extra tabs. So far, he has not been able to persuade the state Legislature give Seattle that financial "get-out-of-jail-free" card.
Joshua Trujillo / seattlepi.com
McGinn is a tunnel opponent who narrowly won the recent mayor's election after promising not to oppose it.
Factoring out overhauling the antiquated Alaskan Way, the actual cost estimate to build a 1.7-mile tunnel beneath Seattle's downtown is $1.96 billion.
That estimate comes with about 20 percent of the design work done. The 20 percent figure will grow very little before contractors are nailed down -- supposedly next January. That estimate also comes with a $415 million cushion to handle extra unexpected costs -- almost 22 percent of the overall budget.
On budget, on time, is it possible?
So why should Seattleites believe the project can be done on time and within budget?
So far, the tunnel's price tag has increased slightly more than 3 percent since January 2009's estimate of $1.9 billion when about 1 percent of the design work was done. Readjusting the route added 640 feet to the tunnel's south end -- bringing the estimated cost to its current $1.96 billion.
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