The University of Otago will pay $5.6 million for the portion of land it intends to build on at the Awatea St stadium, the Carisbrook Stadium Trust's latest update on the project says.
The university decided early on in the stadium's development it would occupy up to 13,400sq m of space at the Logan Park end of the site, and that it wanted to own both the land on which its building would stand, and the building itself.
Trust chief executive Darren Burden said the sale was between the university and the Dunedin City Council, but he expected it would proceed to an "unconditional" stage on June 30, and for money to change hands on one of two settlement dates for landowners and lessees, July 30 or October 30.
The money was part of $10 million identified by the trust as an "indirect contribution" to the project.
The report said the trust had spent $8.1 million of the $11.5 million granted by the Dunedin City Council, mainly because the longer than expected time it took to acquire land at the site meant spending on design had been delayed.
In the next few months, the design would have progressed to a stage where contractors could be selected, and a guaranteed maximum price contract would be in place by the end of January.
Asked whether the Otago Rugby Football Union (ORFU) would be the anchor tenant at the stadium, Mr Burden said the phrase had been "loosely used".
Rugby would be a significant activity at the stadium, and the agreement with the ORFU "is basically a venue hire agreement" for the Super 14 and Air New Zealand Cup competitions.
"There was talk originally they may have office accommodation. That was always a maybe, never a definite."
That would now not happen, but Mr Burden said it left an opportunity for someone else.
The trust had received a written offer for head naming rights. However, the offer did not meet the trust's expectations, Mr Burden said.
