Month: June 2022
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The Week Observed, June 24, 2022
What City Observatory did this week The economics of fruit, time, and place. It’s berry time in Portland, and that got us thinking about how special local products are in defining quality of life. Recently, Paul Krugman, fresh off a European vacation, waxed poetic about the fleeting joy of summer fruit, and true to form,…
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Fruit and economics: Local goods
Perishable, special, and local: The economics of unique and fleeting experiences I pity you, dear reader. You likely have no idea what a real strawberry tastes like. Unless you spend the three weeks around the Summer Solstice in the shadow of this mountain, chances are you have never tasted a Hood strawberry. The Hood…
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“Free parking” isn’t green
No matter how many solar panels it has, your parking garage isn’t green, and especially if you don’t charge parking (This commentary is cross-published at the Parking Reform Network) Almost five years ago, we called out the folks at the National Renewable Energy Lab for claiming that their shiny new LEED-platinum candidate parking structure was…
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The Week Observed, June 10, 2022
What City Observatory did this week Oregon DOT’s “reign of error”—chronic cost overruns on highway projects. The Oregon Department of Transportation is moving forward with a multi-billion dollar freeway expansion plan in Portland. That poses a huge risk to state finances because the agency has a demonstrated track record of cost overruns. We show that…
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ODOT’s Reign of Error: Chronic highway cost overruns
Nearly every major project undertaken by the Oregon Department of Transportation has ended up costing at least double its initial estimate As ODOT proposes a multi-billion dollar series of highway expansions, its estimates pose huge financial risks for the state ODOT refuses to acknowledge its long record of cost-overruns, and has no management strategy to…
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Flying blind: Why public leaders need an investment grade analysis
Portland and Oregon leaders shouldn’t commit to a $5 billion project without an investment grade analysis (IGA) of toll revenues Not preparing an IGA exposes the state to huge financial risk: It will have to make up toll revenue shortfalls, The difference between an IGA and ODOT forecasts is huge: half the traffic, double the…