MINNEAPOLIS (AP) — An official involved in the Minnesota Vikings stadium project says planners won’t meet a goal of finalizing key elements of the financing by week’s end.
Minnesota Sports Facilities Authority Chairwoman Michele Kelm-Helgen told The Associated Press on Wednesday that her staff, team representatives and the main contractor are still working to reach a “guaranteed maximum price” for construction work. The project is capped at $975 million, but not all of that goes into the actual structure.
The authority had hoped to reach a price deal this week so the Vikings could finalize loans on a $477 million private share. The state won’t sell bonds for a $498 million public portion until the Vikings do that.
Officials were eyeing mid-November for groundbreaking to get the stadium built by July 2016.