A report from university financial services director Grant McKenzie, which will be tabled to university council members at a meeting today, details the capital expenditure for the university-DCC joint project.
Since at least August, representatives from the university and the DCC have been negotiating the shared cost of the major landscaping project at the stadium plaza building.
Mr McKenzie's report outlines how the plaza building was $4.486 million under budget for the year to date. The variance is due to contractors overestimating their cashflow requirements and achieving lower production rates than originally anticipated, the report states.
"While the plaza is nearing completion, it represents one of a number of cost-share items in relation to the stadium development which are currently under negotiation with the DCC," Mr McKenzie says in his report. The Plaza was expected to be completed within budget and on time.
Some landscaping items, "mainly walls and seating elements", are yet to be completed in the shared-cost project with the DCC, while a "significant number of defects" also need to be addressed, the University Council agenda report states.
University chief operating officer John Patrick told a public lecture audience last week the plaza development was scheduled to be officially opened on December 21.
