Suppose TCF Stadium were built today.....

[CWCWCW]

Don't get me wrong. I think we're lucky to have the stadium almost complete. In this economy, there isn't a chance that any state contribution could get through our legistlature.
One of the arguments that was given in the past is that it was stated, "You better start building now, because the costs will only go up in the future."
Now, I know some raw materials have come down in price and steel is a lot less. I would imagine labor is about the same. Does anyone here have a background with this type of information? Would TCF Stadium cost less to build if we were starting today?
And finally, I'd suggest that Minnesota stops making payments. We'll get a better interest rate.

 

[GopherDeuce]

If we started today, there would be no TCF Stadium. The money is just not there for a state legislature to pass out money. If we gave the state the land today, would it be worth as much as it was back in 05(?)? We were very, very lucky to get the stadium passed when we did.

 

[MaxyJR1]

Basically the cost of everything outside materials would be less. The competition for construction would be great. Communities that do something in this economy will not regret it.

 

[grunkiejr]

Basically the cost of everything outside materials would be less. The competition for construction would be great. Communities that do something in this economy will not regret it.

Steel prices have come down too. However, the borrowing rates on the bonds might actually be higher. I've been away from my old job in finance for a while but rates on new issuance of muni bonds was fairly high last I looked.

 

[MaxyJR1]

I'm no expert, but am familiar with a project and issues now are that no one is buying bonds. A constuction manager on the potential project said a 5% savings can be had on construction costs in this market.