Question-and-Answer Session
Operator
Thank you, Sir. (Operator Instructions).
Thank you. Your first question is coming from Jeff Donnelly with Wachovia Securities. Please go ahead.
Jeff Donnelly - Wachovia Securities
Good Morning, guys. Just a few questions. What costs remain to complete your National and where do things stand with Perini?
Colin Reed
Jeff, Good Morning, Colin. I am going to ask Dave to answer this part of the question, and where they stand with Perini we are in the middle of should I say serious debate in terms of the closeout, and we probably will be pounding the drums a little harder here with this company over the course of the next two to three months. Because we are unhappy with certain things that were not done in the completion of this hotel and unhappy with some of the billings that we have subsequently received from them.
All within what we have told you about in terms of total cost. But as we dive into this, we believe that, there is some opportunities to remediate some of these questionable billings to us. That's all I think I can say on that and our lawyers will probably hit me if I saying as much than this.
David, well, in terms of total costs, where do we stand right now?
David Kloeppel
Jeff, we are at $937 million have spent to-date. The range that we have out there as of about two quarters ago was about $960 million. We are in the process of going through and closing out the projects and closing out subcontractors. Our anticipated closeout, we are still targeting that kind of range, the $960 million. We anticipate that Perini will continue say that they think that the projects would be more expensive and we are going to say that we think the project should be less expensive.
So, we are going to be in a debate for some time and discussion with Perini for sometime. However, for right now, that neighborhood of 960 range, plus or minus, is probably the right target for us to focus on.
Colin Reed
Jeff, let me just give you one more piece of information. We have got some of the finest construction attorneys and construction consultants working on this closeout reconciliation with Perini and we believe our plans against some of the potential over billing to us are pretty sound and we intend to vigorously prosecute this, but we believe that the cause of a cap Dave just indicated.
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