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Soaring costs stall space project
NASA-Disney tourist center sits on launch pad as bank delays blast-off
The launch of Space Center Houston has been put on hold.
The glitzy NASA-Walt Disney space museum, heralded as a boon to the economy of Clear Lake City when it was announced four years ago, has been stalled by financial turbulence.
The projected costs of the center are now more than 30 percent higher than originally budgeted. So the foundation behind the venture has been forced to renegotiate its deal with Citicorp, the bank backing the project's bonds.
The space tourist attraction was originally projected to cost $48 million. Now the center's opening expenses are expected to soar above $70 million. …