An interim payment of $2 million from the University of
Otago has been made to the Dunedin City Council as the two
parties continue negotiating shared costs for Forsyth Barr
Stadium and University Plaza developments.
A report from university financial services director Grant
McKenzie, which will be tabled to university council members
at a meeting today, details the capital expenditure for the
university-DCC joint project.
Since at least August, representatives from the university
and the DCC have been negotiating the shared cost of the
major landscaping project at the stadium plaza building.
Mr McKenzie's report outlines how the plaza building was
$4.486 million under budget for the year to date. The
variance is due to contractors overestimating their cashflow
requirements and achieving lower production rates than
originally anticipated, the report states.
"While the plaza is nearing completion, it represents one of
a number of cost-share items in relation to the stadium
development which are currently under negotiation with the
DCC," Mr McKenzie says in his report. The Plaza was expected
to be completed within budget and on time.
Some landscaping items, "mainly walls and seating elements",
are yet to be completed in the shared-cost project with the
DCC, while a "significant number of defects" also need to be
addressed, the University Council agenda report states.
University chief operating officer John Patrick told a public
lecture audience last week the plaza development was
scheduled to be officially opened on December 21.
A name, residential address, and (preferably residential) telephone number is required from readers who comment on ODT Online. These details will not be visible to site visitors.