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Sports authority board hears stadium progress; schedules Jan. 8 meeting on covenant tweaks
Summary
At a sports authority board meeting, city engineer Bill Payne said the stadium remains on track for an April 14 first pitch, reported budget and draw details and DBE participation at 22.6% against a 30% goal, and the board set a Jan. 8 special meeting to consider minor covenant revisions for an adjacent development.
Bill Payne, city engineer, told the sports authority board that construction on the new stadium is progressing and that the project remains on track for an April 14 first pitch.
“We will absolutely be ready,” Payne said, describing ongoing work including field installation, painting of interior steel, installation of a standing seam roof, handrail and concourse finishes, and elevator installations across multiple buildings. He said a modular team store is being fabricated off-site and will be installed on the site.
Payne summarized the authority’s recent financial reporting. The consolidated statement showed assets of 78,000,000 and liabilities of 97,000,000, producing a reported fund balance of negative 18,000,000; Payne said the gap is primarily a timing difference between capital improvement project accounting and asset reporting and that the presentation format will be adjusted going forward. He pointed the board to a condensed budget page showing encumbrances and percentages used: the stadium budget is about 76% used and the West 26th…
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