NU to unveil $150 million football facility plan Friday

Stone Cold said:
Sorry once contracts are made price cant and shouldnt be allowed to go up or down.  Its a get f#&%ed stay f#&%ed world and once you are quoted with a contract theres no going back.
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Great idea! Then you probably wouldn't have any more new facilities to worry about

Cost increases are written into the contracts. Any company that guarantees the prices over a several year project probably won't be around long enough to see it through. Or they take so many shortcuts,  cut so many corners and use such inferior materials you end up with a death trap instead of a crown jewel.

 
Stone Cold said:
Well around here when a contract is signed it cant be altered.  Doesnt matter if wood goes up 300% thats what they signed to do the job for.  There fault if they didnt take into account inflation.
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You do realize that all the contracts for it probably weren’t signed when they stated the 155,000,000 figure, right?

 
I believe that NU put off part of the original project schedule to buy Covid time and try to find some more donors.  Donations seem to be about to come by as wins.  This explains the adjustment.   Frost probably got a new solid gold desk and recliner in his executive suite. That clause had a market price feature in materials.  

 
It is also written into contracts (especially with material prices being as sporadic as possible lately) That material increases are passed on to the buyer and not the builder. I should know as I am building my new home and it is stated in every single builder contract I reviewed. 

 
Dogs In A Pile said:
Great idea! Then you probably wouldn't have any more new facilities to worry about

Cost increases are written into the contracts. Any company that guarantees the prices over a several year project probably won't be around long enough to see it through. Or they take so many shortcuts,  cut so many corners and use such inferior materials you end up with a death trap instead of a crown jewel.
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A good sub locks job specific material pricing with his venders....   ;)  

 
Hedley Lamarr said:
It is also written into contracts (especially with material prices being as sporadic as possible lately) That material increases are passed on to the buyer and not the builder. I should know as I am building my new home and it is stated in every single builder contract I reviewed. 
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This part is true.  Our contractor has helped us out in other areas.  I use them to find vendors for different projects and sometimes they have fixed stuff for me for free.  There is a lot of give and take in our projects.  My guy always acts in good faith.

 
Hedley Lamarr said:
It is also written into contracts (especially with material prices being as sporadic as possible lately) That material increases are passed on to the buyer and not the builder. I should know as I am building my new home and it is stated in every single builder contract I reviewed. 
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I am going to guess that the contractor lost his a$$ on some other projects due to material increases and that is why he added that.  A good friend of mine is just finishing up his new house and he was able to lock in material pricing when he signed his building contract.   He said that he pays current price for materials on added stuff but the majority of his house was built at material prices from last November when he signed his contract.   

 
Stumpy1 said:
I am going to guess that the contractor lost his a$$ on some other projects due to material increases and that is why he added that.  A good friend of mine is just finishing up his new house and he was able to lock in material pricing when he signed his building contract.   He said that he pays current price for materials on added stuff but the majority of his house was built at material prices from last November when he signed his contract.   
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Oh totally they order the material as soon as possible. However if a delay occurs etc. the price change goes to the buyer not the builder. Which is what you are saying. I spoke to several builders and all have the material increase clause in their contracts anymore. I know most of the builders if that occurs around here try to help by buying down your rates for mortgage etc to help as much as they can. 

 
I don't know, that sounds like BS to me.

If I go buy a car and the next month the car is more expensive I would not expect the dealer to call me up and tell me I owe them more.

 
HS_Coach_C said:
A multi-year construction project is a bit different than going to a dealership and driving away with a new car in one day. 
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I totally agree.  I just think if you are quoted a price, that is the price.  

Don't get me wrong, if I was the builder I would do it the way they do it too.  

 
You people are crazy. You think there isn't gonna be quite a bit of flex on a 150 million dollar quote? Frankly the bigger the project, the bigger the margin of error is on the quote. There is too much that can happen to perfectly estimate the cost of construction. 

 
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