10-19-11 EDC Packet - Laserfiche WebLink

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Presen.ting iii .-, most is obtaining the rnurli•ioa.1 consent trunk h•ghway 1.1'.rorn affer•ed cities. riviro rim. en. t a 1. i.-ernedi a *Hon, land Iran sfer, transpor.7ta t ion arid permitting, tasks could pose risks for the schedille of deliverilif,4 a stadiun. Aevel(ipmerl t. the municipal consent for trunk highway projects from affected cities. In this case, if municipal consent is withheld, a possibly lengthy appeals process may be needed for the project to proceed. This appeal period may adversely affect the project schedule. Schedule Environmental remediation, land transfer, transportation and permitting tasks could pose risks for the schedule of delivering a stadium development. The Vikings schedule assumes a three-party agreement among Ramsey County, the Vikings and the State of Minnesota by October 2011 and a stadium open for use for the 2015 NFL season. The Vikings proposed project schedule appears to be based on an assumption that the tasks necessary fbr completion will take a minimum or nearly a minimum amount of time. Some tasks lie within the Vikings control, but a majority of the tasks do not. If it is assumed that all tasks would take a maximum amount of time, it is possible that the Vikings stadium could take until the 2016 or 2017 NFL season to open. Naturally, any schedule delays have associated cost impacts. The Vikings estimate the cost of delay to be in the range of $35 million to $57 million for each additional year the opening is moved back. Assuming a one year delay and a mid-range cost estimate of $46 million, $7 million for Ramsey County and $39 million for Minnesota Vikings, the project cost would increase to $1.157 billion. Chart 2: Funding of $1.157 Billion Project Cost Assumes 1 Year Schedule Delay Minnesota Vikings $446 million_ Funding C3a $39 million State of Minnesota .,:00 rnfflion Ramsey County Metrodon _S357 million MSFC $15 million