Councilors Vote to Pay Remaining Balance for the Regions Field Project
PRESS RELEASE Wednesday, September 9, 2015
Contact: Brittany Sharp
BIRMINGHAM, AL – The Birmingham City Council voted Tuesday to pay the remaining expenses on the Regions Field Project. Under the agreement, the city will pay Robins & Morton and A.G. Gaston Construction an initial $1.5 million payment in October and seven payments ending in 2021.
This agreement resolves unpaid expenses for the project. The city was originally billed for about $8 million in construction overruns, but was able to negotiate that figure down to $4 million. The overruns that are included in this agreement were costs that were outside the budget for the city-financed $64 million stadium that opened in April 2013.
“It is the Council’s fiduciary duty to the citizens of this city to ensure that we not only seek to bring the best structures and attractions to our city, but we must ensure that we are establishing practices and setting policy that will not compromise the treasury of our great city”, said President Johnathan Austin.
During Tuesday’s Council Meeting, the Council also passed a moratorium on all capital projects to ensure that cost is being monitored and transparency is being achieved at every level of the project.
For media inquiries please contact the Birmingham City Council Director of Public Information Brittany Sharp at 205.721.5369 or email@example.com.