An audit on Dunkin’ Donuts Park has been revealed, showing unsurprising results in regards to increasing costs.
The future home of the Hartford Yard Goats (Class AA; Eastern League) has already seen its cost rise, as estimates in December foreshadowed a significant overage from the original $56 million cost. Developments that have unfolded since–including several delays and the cancellation of Hartford’s construction contract with Centerplan Cos. and DoNo, LLC–have certainly causes budget issues, which is confirmed by the audit.
According to the report,which was conducted by Hartford’s Internal Audit commission, the city has now invested a total of $71.7 million on Dunkin’ Donuts Park alone. When accounting for the entire Downtown North development that is taking place in the area surrounding the ballpark, that price jumps to $102.5 million. Per the Hartford Business Journal, the audit omits certain fund and resource allocations by the city since the construction contract was terminated in June:
That $102 million does not include ongoing costs related to the shutdown of the project in June when the city fired the developer, such as security and legal, fire and police protection. The sum also does not include the final cost to finish the work on the stadium, which is being determined by the city’s surety bond carrier, or costs associated with pending litigation, the report states.
The audit is based on the economic investment for the Downtown North “DoNo” development from inception through August.
The obvious issue at hand is how to finish the ballpark, something that Eastern League president Joe McEachern strongly urged the city to do during an appearance in the city on Thursday. Hartford mayor Luke Bronin recently declined Yard Goats owner Josh Solomon‘s offer to finish construction, stating that such a move would require a reimbursement from the city or insurer Arch Insurance. According to the audit, the city has exactly $4.4 million left to finish construction, but that does not include a $5 million invoice from Centerplan that was submitted in May.
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