The Minnesota Sports Facilities Authority announced Wednesday it is still working to meet a “guaranteed maximum price” with the main contractor doing the work on the new Minnesota Vikings stadium, the Associated Press reported.
The MSFA originally had hoped to reach a price deal this week, which would have allowed the Vikings to finalize loans on their $477 million private share. The state will not sell bonds for the public share of the cost until the Vikings do that.
The Pioneer Press reports that higher-than-expected bids are prompting the delay.
MSFA Chairwoman Michele Kelm-Helgen told the newspaper that the figures fluctuate, but bids are coming in roughly $10 million-$25 million dollars over the budgeted construction amount of $738 million.
She declined to say when she expects the maximum price to be finalized. It has to happen soon if they are going to meet a mid-November deadline for a key order of steel for the roof of the stadium.
“It’s very important that we get this right,” Kelm-Helgen told the newspaper. “We’re getting close.”
She said officials are trying to make prices as specific as possible by reducing unknowns and making a few changes in the building’s design. But Kelm-Helgen says they are not eliminating any of the signature elements.
Officials are hoping to break ground in mid-November. The stadium is scheduled to open in 2016.
