Russell Fong, the rail authority’s chief financial officer, said in an interview that the authority is taking a more conservative approach in its cost estimates, shooting for a 70% probability that its estimates are correct rather than the past level of confidence of 10%. The $1.8-billion cost increase includes money for delay claims by contractors that have not yet been resolved, settlement of legal disputes with Fresno and revised specifications on structures, among much else, Fong said.

Source: Los Angeles Times May 01, 2019 22:31 UTC