CONSTRUCTION PROJECT

Construction project



Construction project

Introduction

The new improvement developments are now the indoor arena stadium unlike the sports ground in designs a; the indoor arena consists of a main arena which would be well suited and sited for up to 25,000. Inside stadium consists of a soft green ground, which would be used for either rugby or Football games. The ground would also consist of a running track round it. The arena would undertake full maintenance every week to keep up the high quality standard.

The arena would have a car park with the capacity to contain 5000 vehicles. It is to include private club seats, private and party suites, food and beverage service facilities, retail space, corporate business space, function space, facilities for media and other functions and amenities appropriate to a first-class professional sports facility. The arena stadium will have a road connected to it from the main road; this would ensure easier access to the stadium (Cost studies of buildings). The cost of this design development will cost £135,246,000.00.

I have recommended this option as it would bring in more profit to the university, the stadium arena would be hired out for concerts, shows, festivals, the stadium will be very beneficial to both students and the public, the arena can be hired out to the public for also events or competitions, also it can benefit local football or rugby teams to hire the pitch for their weekly games. I believe that the indoor arena stadium will bring in more profit.

The development of an indoor stadium arena would not only improve the universities profile and benefit current and future student but it would also improve the economy of the area. The indoor arena would add an additional source of income to the universities. The risks in this development are if there is delays in the construction period the delay will increase the costs of the developments.

Discussion

The company has updated its cost benefit analysis of the New City Field project in response to the new requested issuance. Based on the latest information to the stadium, this new analysis, which looks at the project's impact on the City, includes the cost of the additional financial assistance requested by the Company. At inducement of the project in 2010 a cost benefit analysis was completed considering only the cost to be incurred by the City for infrastructure improvements such as site planning and excavation work and contributions to the Stadium Capital Reserve fund.

This analysis has been updated with the most recent budget numbers for the aforementioned work as well as additional costs not originally considered or known. These additional costs include forgone NYC Mortgage Recording Taxes, Sales Taxes and City Income Taxes on interest. In addition, after the original Stadium project cost-benefit was completed in 2010, the company adopted a more conservative methodology for accounting for forgone tax revenues. This new, more conservative methodology was employed for the analysis below. Beyond updating the costs of the Stadium project, company also ...