p_eval4_l15_acc

p_eval4_l15_acc - 1.011 Project Evaluation CEE Projects...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
1.011 Project Evaluation Case Studies Carl D. Martland 1. Chesapeake Bay Bridge 2. BART 3. Transcontinental Railroad
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Benefits of Improved Access Reduced transport costs for existing users Lower transport expense ($ saved) Less travel time (hrs saved x value of time) Fewer accidents ($, injuries, fatalities avoided) Increased demand for transportation Additional consumer surplus (difference between value of trip and cost of trip) Changes in economic geography Increased land values and development potential More location options for time and $ constraints More options for trade (spatial price equilibrium)
Background image of page 2
Overview Construct 17.6 mile bridge & tunnel to cross mouth of Chesapeake Bay and connect Norfolk VA and tip of Delmarva Peninsula Motivation Seasonal access to excellent beaches Alternate to I-95 for interstate traffic (shorter, less congested route between VA and Delaware) Financing Raise construction funds through bonds Pay principal & interest from tolls
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background: Chesapeake Bay Bridge-Tunnel 1920s - various private ferry services 1930 - Chesapeake Bay Ferry Commission Issued bonds to buy out private ferry companies Established regular shuttle service 1955 - Lucius Kellam, member of the Commission pushed for permanent crossing VA General Assembly approved concept, authorized study of bridges and tunnels US Navy would not accept a bridge; 17.6 mile tunnel deemed too expensive; selected a combination 1960 - Commission became "Chesapeake Bay Bridge-Tunnel Commission
Background image of page 4
Financing: Chesapeake Bay Bridge-Tunnel $200 million raised from sale of bonds to build bridge Three levels, with increasing interest rates Annual financing costs approx. $13 million (30 years at
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/29/2011 for the course CIVIL 1.00 taught by Professor Georgekocur during the Spring '05 term at MIT.

Page1 / 16

p_eval4_l15_acc - 1.011 Project Evaluation CEE Projects...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online