Ceiling of $65 million set for SDSU stadium costs
PIERRE (AP) — The South Dakota Board of Regents Building Committee approved a $65 million ceiling on costs for a new football stadium at South Dakota State University.
The facility plan for the future Dana J. Dykhouse Football Stadium in Brookings, which will seat 19,359 fans, was approved on May 13. In a teleconference Monday, the Regents set the maximum cost, which is to ensure that there are no surprises during the bidding process and construction.
Construction manager J.E. Dunn Construction/Henry Carlson Company presented $53.6 million as the Guaranteed Maximum Price for construction, which includes wiggle room for contingency costs and cost escalation. Another $10 million or so is for design and other "soft costs."
Of the $65 million, $4.7 million is marked for contingency or escalation.
Officials say the cushion is necessary considering the long, 26-month contract and possible labor costs.
Managers of the project will begin the bidding process in July. Regents' President Dean Krogman said the project will be divided into four bids.
Once the bids are finalized, the board will know if it can fund any of four alternate projects. The alternates cost about $1.5 million total and include a locker room and additional concession stands. Krogman said the auxiliary SDSU team locker room is the number one priority. Paving of a parking lot east of the project site and a special partition in the club room are other alternate projects if funding allows.
Donors and bonds will cover most of the stadium cost. The bonds are intended to be repaid with revenue from the stadium once it's open.