The June 30 budget for the Community Maritime Park showed the current construction contract with Magi at $39,284,704. The total cost for the work left to be done was $8,116,530 – increasing Magi’s contract to $47 million. The breakwater had been deleted because that it could be done cheaper than through Magi.
Then added to the budget:
Scoreboard, FF&E, AV & Concessions: $2.15 million
Developer & CMPA soft costs:$4.5 million
This got the total project to $54,051, 054, which leaves a $490,175 over the budget.
The question is what kind of soft costs hit the project of $4.5 million over the next six months?
Here is the budget: CMP June 30 2011 Budget