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Anton, Lubov & Associates, Inc. <br /> <br />Voice: <br /> <br />15 South Fifth Street, Suite 765 <br />Minneapolis, Minnesota 55402-1058 <br />612-371-0364 FAX: 612-371-0269 <br />e-mail: pareto@usinternet.com <br /> <br />MEMO <br /> <br />Date: <br /> <br />February 28, 2003 <br /> <br />To: Tim Yantos <br /> <br />From: Paul Anton <br /> <br />Subject: Northstar Commuter Rail Benefit/Cost Analysis <br /> <br />In January, 2003, our firm was hired as an independent consultant to use our best professional <br />judgment to assess the methodologies and assumptions used in benefit/cost analysis of Northstar <br />Commuter Rail and to consider other aspects of the cost effectiveness of the project. We <br />presented some of the results of that analysis before Governor Pawlenty on February 19, 2003. <br />The enclosed document is a summary that explains the basis for the benefit/cost analysis that we <br />presented that day and responds to the Governor's request to compare our calculations with those <br />of MnDOT in 2002 and a study of a line to Elk River done by Parsons-Brinckerhoff in 1998. We <br />hope this will prove useful to you and others evaluating the Northstar Commuter Rail. <br /> <br /> <br />