Deal Cut To Expedite Miami Arts Center Job Owner, contractors and architect settle claims and set new schedule for much-troubled project 08/30/2004
The owner, architect and builder of the $419-million Miami Performing Arts Center have reached a $44-million settlement that is expected to put the high- profile project on positive footing after years of delays and big cost overruns. The two-building complex is 600 days over its original schedule and more than $67 million over budget, but the pact resolves all claims and carves a finish date in stone.
Under the settlement reached last month, contracts among the parties are restructured so they can work collaboratively to move the project forward, says Tim Ackert, program manager for URS Corp., San Francisco, who was brought in last year by owner Miami-Dade County to help put the project back on track.