EUGENE, Ore. -- (Feb. 10, 2011) -- An independent audit of the University of Oregon's Matthew Knight Arena construction project concludes that the facility was completed on time and on budget and realized a $5.4 million savings over the original $200 million construction budget. This savings was reinvested back into the project allowing construction of two practice courts, two additional elevators, an acoustical dampening system for live concerts and other improvements.
The Oregon University System commissioned the national consulting firm Marsh Risk Consulting to conduct a comprehensive audit of the project costs, as well as an in-depth review of the performance of the project's stakeholders. The Oregon University System routinely conducts audits on major construction projects.
Marsh found that the success of the project was attributable to those responsible for the development, construction and oversight of the facility, including: JMI Sports, the development manager for the project; Hoffman Construction Company; Ellerbe Becket Architects and TVA Architects. Marsh praised the stakeholders for their effective planning, execution and communications throughout the multifaceted project.
The audit found that Hoffman Construction Company, the project contractor, paid prevailing wages and competitively bid all of its subcontracts. Marsh also noted Hoffman's aggressive efforts to solicit and track involvement from local, minority-owned, women-owned and emerging small businesses.
"The Matthew Knight Arena is arguable the most complex construction project ever undertaken on the University of Oregon campus," said Frances Dyke, vice president for finance and administration at the UO. "It is remarkable that the construction of a facility of this size and scope could be managed so effectively. It is a tribute to the outstanding work of our development manager JMI Sports, our contractor Hoffman Construction, and Ellerbe Becket Architects and TVA Architects."
The economic impact of the two-year construction project is estimated at $320 million. The $200 million project employed 1,695 people during the construction phase that began in February 2009. Subcontracted work is valued at $124 million with $99.1 million being awarded to Oregon-based companies. This represented 79.9 percent of the total contract value.
The arena was funded through the sale of "XI-F" bonds, which will be repaid by users. No taxpayer money was spent on the project.
The 405,000-square-foot, 12,500 seat multi-purpose facility is expected to receive LEED Gold certification for its sustainable design and construction, which will make it the first such facility in the nation.
The Matthew Knight Arena is the new home of the UO men's and women's basketball teams and the women's volleyball team. In addition, the arena has played host to a variety of other performances since its opening on Jan. 13. Entertainment acts have included Disney Live and comedian Jeff Dunham. Upcoming performances will feature singer Elton John, the Original Harlem Globetrotters, the band Avenged Sevenfold and the Nike Clash of Champions tennis exhibition.
About the University of Oregon
The University of Oregon is a world-class teaching and research institution and Oregon's flagship public university. The UO is a member of the Association of American Universities (AAU), an organization made up of the 63 leading public and private research institutions in the United States and Canada. The UO is one of only two AAU members in the Pacific Northwest.
MEDIA CONTACT: Phil Weiler, 541-346-3873, pweiler@uoregon.edu
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