The Washington Times - March 17, 2008, 01:25PM
Patrick StevensD1Scourse blog SEE RELATED:


NCAAESPNJoe Lunardi

\ My Final Four projection (at the moment) for anyone who cares, is: Louisville, Kansas, Memphis and UCLA. I like Purdue and West Virginia as major conference sleepers and see Siena over Vandy as the biggest first round upset. I also think UMBC could give Georgetown a game. \

\ Ok, onto the world of sport biz. Some ballpark budget numbers! Accountants, rejoice!\

\ The latest budget report for the stadium came out last week, and it shows no surprises. The latest budget pegs the cost of the project at $673,603,097, broken down as follows:\ Hard costs (materials and labor): $320 million\ Soft costs (things like insurance and permit fees): $175,121,815\ Land and Environmental Cleanup: $154,769,802\

\ The above number includes the $20 million that the team was required to contribute in the lease agreement. The Nationals have contributed an additional $11,392,750, with $7,615,650 going toward hard costs. \

\ At the moment, the city remains under the D.C. Council’s cap on hard and soft costs. (The cap is $495,184,218, leaving just $63,000 to play around with. But, there’s still $11 million left in contingency. So there’s no real danger of busting the cap.)\

\ The cost of land and environmental remediation was not capped, but is currently $43,154,020 over budget. Land alone has cost about $33 million more than estimates.\

\ — Tim Lemke