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Cost of Sprint Center Likely Climbing Toward $280 Million

Posted on: Wednesday, 22 February 2006, 12:00 CST

By Kevin Collison, The Kansas City Star, Mo.

Feb. 22--The final construction cost of the Sprint Center is scheduled to be announced this morning at a news conference in the offices of the project architect.

Sources say the final project cost will likely be in the range of $270 million to $280 million.

The downtown arena project was originally estimated at $250 million when city voters approved the financing plan in August 2004, but double-digit inflation in the overall construction industry and other factors have driven the cost upward.

Mayor Kay Barnes and City Manager Wayne Cauthen are holding the press conference at the offices of the Downtown Arena Design Team. Cauthen and other officials have said the additional cost can be covered by the additional hotel and car rental fees approved by voters in 2004 and will not require dipping into the general fund.

Under the terms of the development agreement, Anschutz Entertainment Group, the city's private partner in the project, will pay for any construction cost overruns. AEG and M.A. Mortenson Co., the arena contractor, have been negotiating the final cost of the project, its guaranteed maximum price, since last fall.

For more on this story, please see Thursday's editions of The Kansas City Star.

To reach Kevin Collison, development reporter, call (816) 234-4289 or send e-mail kcollison@kcstar.com .

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Copyright (c) 2006, The Kansas City Star, Mo.

Distributed by Knight Ridder/Tribune Business News.

For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.

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Source: The Kansas City Star (Kansas City, Missouri)

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