QUESTION
What is the new cost estimate for the broad based jails, and what drives the increase?
3:42:24
·
56 sec
The new cost estimate for the city's broad based jails is $15,000,000,000, mainly driven by rising construction costs, including steel prices.
- The initial cost estimate was $8,700,000,000, but it has increased to approximately $12,000,000,000 and then to $15,000,000,000.
- The increase is attributed to the cost of construction materials, specifically steel, whose price has doubled.
- Budget Director Jacques Jiha corrects the cost from $12 billion to $15 billion after a clarification.
- The revised cost reflects the current projections for constructing the jails.
Sandy Nurse
3:42:24
The We currently understand that $8,700,000,000 is what it will cost for the broad based jails.
3:42:32
What is the is there an a new estimate for what the jails will cost?
Jacques Jiha
3:42:37
Yes.
3:42:38
I believe it's the for, like, the 2 third of population right now, which is currently in the acquirers.
3:42:48
It's about $12,000,000,000.
Sandy Nurse
3:42:50
$12,000,000,000?
3:42:51
Okay.
3:42:51
That's not what we've been hearing.
Jacques Jiha
3:42:53
It was 8,000,000,000 initially that was included and we have to add another $4,000,000,000.
Sandy Nurse
3:43:00
And when do you plan to reflect that?
Jacques Jiha
3:43:03
Oh, I'm sorry.
3:43:03
15.
3:43:04
I'm sorry.
Sandy Nurse
3:43:04
Okay, dad.
3:43:05
That's I was gonna say, I don't think I've been hearing that.
3:43:07
Okay.
3:43:08
Great.
3:43:08
15,000,000,000.
3:43:10
What's driving this increase?
Jacques Jiha
3:43:13
Cost of a construction and not particularly steel, cost of steel as double.
Sandy Nurse
3:43:18
Great.
3:43:20
Okay.