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Published Thursday, November 07, 2013

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Refinement of Minn. Vikings stadium costs drags on

The Associated Press - MINNEAPOLIS

An official involved in the Minnesota Vikings stadium project says planners won't meet a goal of finalizing key elements of the financing by week's end.

Minnesota Sports Facilities Authority Chairwoman Michele Kelm-Helgen told The Associated Press on Wednesday that her staff, team representatives and the main contractor are still working to reach a "guaranteed maximum price" for construction work. The project is capped at $975 million, but not all of that goes into the actual structure.

The authority had hoped to reach a price deal this week so the Vikings could finalize loans on a $477 million private share. The state won't sell bonds for a $498 million public portion until the Vikings do that.

Officials were eyeing mid-November for groundbreaking to get the stadium built by July 2016.

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