Cost of addressing Carlsbad sinkhole could reach $43 million

It could end up costing more than $40 million to remediate a brine well on the southern edge of Carlsbad and prevent its collapse.

The Carlsbad Current-Argus reports the new price tag is the result of the latest budget proposal developed by the Carlsbad Brine Well Remediation Advisory Authority.

The estimate comes amid contract negotiations with companies that have submitted proposals for filling the decommissioned well, which was closed in 2008 when the ground was deemed unstable.

Initial costs were closer to $25 million. Authority Chair John Heaton said during a recent meeting the real cost is still unknown.

Money for the remediation would come from several sources over four years, and some of that funding would depend on legislation that is expected to be introduced during the upcoming session.