It’s been in the works for 30 years, but California’s high-speed rail project is once again potentially going off the rails.
A new report from the Office of Inspector General for High-Speed Rail found that the California High-Speed Rail Authority could run out of money for the project as early as next year. The report adds that the authority is low-balling future costs of its first segment, should it ever get completed.
The 43-page report found that the project’s latest business plan does not clearly communicate rising costs, shifting scope, delays and looming financing needs.
Financial issues
While the new report focused on several issues, cost was the biggest one…