Earlier this month I wrote an article about Chesapeake Energy Arena, and the $2.4 million facelift they would be receiving during the offseason. In it, I noted that while the city had budgeted roughly $200,000 for the floor, news of the final bid had not been made available at the time of the writing:
The city estimates the cost of the new hardwood court at around $200,000 as well. As Anderson said of the old hardwood, which has been used since the team first tipped-off in Oklahoma City:
“I’m sure it’s been used more than 300 times. It’s run the course of its useful life.”
Where the city was actually starting to run into trouble budget-wise was with the addition of extra family room space, and office space. If you’re not of the link-clicking type, per said article:
An old minor league hockey team’s locker room will be converted into office space for touring concert promoters. The cost estimate for both the players’ family room and the additional office space comes in at an estimated $600,000. Although the lowest bids on the job exceeded that by well over $200,000. One bid even came in to the tune of $870,000.
The floor needs to be completed no later than September 30th. So the most likely explanation is that the contractors placing bids on it are factoring in overtime pay for their employees.
They’d already found an offset, however. The city had actually set aside $900,000 for new video boards, and the winning bid came in at $500,000. Therefore, they had about $400,000 in surplus to put towards other issues. After subtracting the overbid for the additional space, they still had a minimum of $150,000 extra to throw at any other issues that might surface during the construction process.
But after receiving the winning bid on the hardwood court itself, it looks as though there will now even be surplus in the $200,000 that was set aside strictly for the floor.
NewsOK’s William Crum reports that Sport Court West’s winning bid came in at $109,670.40, which will now leave a surplus of over $90,000 to put towards any issues that arise during construction.
With these numbers, it’s fairly obvious that Oklahoma City manages their money far better than the state of Oklahoma does, but now I’m simply beginning to digress. The news on the Chesapeake Energy Arena upgrades just continue to get better and better. I wouldn’t be surprised to learn that the city worked out some kind of deal to get the entire thing on credit, and stick the federal government on the hook for the cost. I doubt that will ever be the case, but I’m just continually impressed by how well the city budgeted this arena. Now they have nearly a quarter of a million dollars in simple surplus. I call that winning!
Tags: Oklahoma City Thunder