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Authority approves $975,000 increase to stadium guaranteed maximum price to cover lighting fixtures
Summary
The Chattanooga Sports Authority approved a resolution adding $975,000 to the contractor's guaranteed maximum price to cover a contract allocation for stadium lighting fixtures that were split between the team and the authority; the board moved the resolution and carried the motion with one member recorded as opposed (name not specified).
The Chattanooga Sports Authority on Thursday approved a resolution to increase the guaranteed maximum price (GMP) for stadium construction by $975,000 to cover a portion of lighting fixtures.
Finance staff said the change is administrative and does not represent additional scope or a design oversight. The lighting fixtures were initially expected to be provided by the team, but final contract exhibits split that responsibility. Because the team had a hard funding cap, the contract language requires the authority to pay amounts above the team's cap for certain lighting items. The authority's presentation described the GMP adjustment as aligning E and J's GMP with the lease and financing documents rather than creating a new project cost beyond what had already been budgeted.
"This is purely an administrative contractual necessity," Bill, finance presenter, said, adding the dollars have been included in the overall budget and the increase is intended to preserve contingency for true unknowns.
A motion to approve the resolution was moved by Miss Barnard. The meeting record indicates the motion was carried after an unidentified participant said they opposed the motion. No second was recorded in the meeting transcript.
No amendments were proposed during the vote and staff said the department and legal review were satisfied with the item prior to the motion.
