BOARD00330

• Board Meeting Date: 3/27/1968
• Description: Agenda or Table of Contents, Minutes, Memos
• Board Meetings - Doc Type: Meeting

I

I

MRS. KEATING:

MR. STAPLETON:

MRS. KEATING:

....J........

before. The Board members will recall that
during World war II virbually all construc-
tion came to a halt and 'during the Korean
conflict we experienced another time when
funds were very difficult to come by.

The only thing we can do in this case is
to keep moving ahead, keep getting our proj-
ects ready, and keep pleading our cause in
Congress.

The Fryingpan-Arkansas Project is an-
other casualty, not that construction will
not be completed, but due to the fact the
funds recommended for this year are in the
neighborhood of $10 million less than required
to keep construction on schedule. This is a
very serious cut to that project and if
similar cuts are continued in the future,
project construction will be stretched out
at least three years. The net result is to
make a far more expensive project in every
case. Savings do not occur. The fact that
a project is postponed this year doesn't
accomplish anything except to increase the
cost of the project. It's been quite dis-
turbing in the past two years that construc-
tion costs have pyramided to a ratio beyond
anything in our previous experience. Every
year of slowdown adds a very significant
cost factor. The economy of delaying con-
struction is entirely false, but we are
still facing the proposition there are only
so many federal dollars to go around. The
easiest solution as far as the Congress and
the Bureau of the Budget is concerned is to
reduce going construction.

It is a very unhappy situation and I
don't know what the answer is."

"Mr. Stapleton."

"Yes, Mrs. Keating."

"Mr. Danielson would like for me to make