The contractors who will build Colorado State Univ.'s new on-campus football stadium "have guaranteed that it won't cost the university" more than $220M, according to Kelly Lyell of the Ft. Collins COLORADOAN. Icon Venue Group Senior VP Mike Harms, the project manager for the stadium, said that cost overruns "will be covered by the contractors involved and not the university -- unless CSU were to 'change the scope of the project' along the way." He said that it is "because there is a guaranteed price clause in contracts signed by Icon and general contractor Mortenson Construction." He added that the $220M price tag for the stadium project is "realistic and in 'current dollars.'" He also noted that it "has undergone several 'price checks' since the original plans were proposed" in May '12. Now, the project, which "generated extensive controversy over cost and financing, moves into the construction phase." Groundbreaking is "scheduled for July 1, but stadium-related construction already is underway a few blocks away" (Ft. Collins COLORADOAN, 5/5).
