  We present a measurement of the Hubble Constant based on Cepheid distances to
27 galaxies within 20 Mpc. We take the Cepheid data from published measurements
by the Hubble Telescope Key Project on the Distance Scale (H0KP). We calibrate
the Cepheid Period-Luminosity (PL) relation with data from over 700 Cepheids in
the LMC obtained by the OGLE collaboration; we assume an LMC distance modulus
of 18.50 mag (d=50.1 kpc). Using this PL calibration we obtain new distances to
the H0KP galaxies. We correct the redshifts of these galaxies for peculiar
velocities using two distinct velocity field models: the phenomenological model
of Tonry et al. and a model based on the IRAS density field and linear
gravitational instability theory. We combine the Cepheid distances with the
corrected redshifts for the 27 galaxies to derive H_0, the Hubble constant. The
results are H_0 = 85 +/- 5 km/s/Mpc (random error) at 95% confidence when the
IRAS model is used, and 92 +/- 5 km/s/Mpc when the phenomenological model is
used. The IRAS model is a better fit to the data and the Hubble constant it
returns is more reliable. Systematic error stems mainly from LMC distance
uncertainty which is not directly addressed by this paper. Our value of H_0 is
significantly larger than that quoted by the H0KP, H_0 = 71 +/- 6 km/s/Mpc.
Cepheid recalibration explains ~30% of this difference, velocity field analysis
accounts for ~70%. We discuss in detail possible reasons for this discrepancy
and future study needed to resolve it.
