Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBB/CMAR
# of Projects: 1
100% of the Results

Background informationProject Created: June 19, 2009

Project Name: New York Yankee Stadium
Year in Operation: 2009
Sector: Buildings
Subsector: Other Government Building, Sports Venue
Status: In Operation
Type: New Facility
Description: New Home of the New York Yankees. The new stadium was built across the street from the old stadium and seats 51,800. It maintains many of the design features of the previous building.
Delivery Method as described in the country where it's located: Design Bid Build
Is the project still active: Yes
Comments:

Project Locations

Address:
City: New York City
State: New York
Country: United States of America

Address:
City: Bronx
State: New York
Country: United States of America

Address:
City: Bronx
State: New York
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: The City of New York will lease the Stadium site for a 40 year term to the New York City Industrial Development Agency to facilitate the issuance of tax-exempt bonds for the development of the New Stadium.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: $220 million in funds from New York City for parking facilities, parkland along the waterfront, and other stadium-related work. The city obtained these funds from tax revenues. In 2006, the New York City Industrial Development Agency (IDA) issued $942 million in tax-exempt bonds to the Yankees, plus an additional $370.9 million in bonds in 2009 – $259 million of which are tax-exempt. The New York Yankees will retire these debts through lease payments.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner then separately contracts with another party, who operates and maintains the facility.
Construction Manager At Risk Variants: Public Sponsor contracts with Construction Contractor after Design is Complete.

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals
Design
X

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Initial Design and Construction
5
0
Forms
Description
 
 

Project Value (If and As Known)

Date of Estimated Project Value: August 16, 2006
Project Value
Hard Cost
Hard & Soft Costs
Total
$500 Million - 2 Billion US
(none)

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