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SBD/October 24, 2013/Facilities
Contractor For New Vikings Stadium Struggling To Meet $737M Hard Budget
Published October 24, 2013
WAITING UNTIL NEXT WEEK: The authority will wait until Mortenson delivers its guaranteed maximum price by the middle of next week before determining whether to solicit input from other contractors. Kelm-Helgen said, “If something significant happens with the GMP, we might have to take a look at the numbers and figure something out.” Peer reviews by architects and builders are not uncommon for major league sports projects, but sources said that taking such action indicates there is a problem with the budget. The hard budget is part of the $975M in total costs for the stadium project, a number covering fees paid to Mortenson and HKS, the stadium architect, as well as upgrades to infrastructure outside the building. The project has gone through several rough spots over the course of development, including a large shortfall in revenue from electronic gaming as a source of stadium funding.