Stadium Authority Pays $16 Million on Project Overruns
MINNEAPOLIS (AP) - The Minnesota Sports Facilities Authority has agreed to pay the company building the new Minnesota Vikings stadium $16 million for cost overruns even though the final figures are still being tallied.
The authority is overseeing construction of the $1.1 billion stadium and approved the payment Friday to resolve a mediation claim by Mortensen Construction. The MSFA estimates that the overruns could reach between $26 million and $29 million by the time the stadium is finished at the end of July.
Reports says the stadium authority already has the cash on hand to pay the settlement. The project budget includes a contingency fund of more than $30 million.
The cost overruns involve ongoing changes on the