Hartford Mayor Bronin: developer defaulted on downtown stadium
Bronin stated in the letter that Centerplan Construction, the developer behind the baseball stadium, defaulted on its agreement with the city.
The insurance company is now obligiated to step in to complete building the stadium, since Centerplan missed two deadlines.
Bronin said the stadium for the Hartford Yard Goats should have been completed by May 17.
There will be a meeting between the parties on Tuesday at 2 p.m.
Bronin’s letter states:
We are writing on behalf of the City of Hartford and the Hartford Stadium Authority, obligees under the above-referenced Performance Bond.
This correspondence serves as formal notice that your principal under the Performance Bond SU1127633, Centerplan Construction Company, LLC, (“Centerplan”) is in default of its Design Build Agreement for the Minor League Ballpark in Hartford, Connecticut (the “Project”). The defaults of Centerplan include, but are not limited to; (1) its failure to reach substantial completion by May 17, 2016; (2) its failure to pay liquidated damages that have been claiming since that date; (3) its failure to post a letter of credit regarding said liquidated damages; and (4) numerous construction deficiencies and code violations that remain on the Project. Also, Centerplan has publicly threatened to walk off the jobsite, which if done, will constitute yet another serious default.
We look forward to meeting with you at 2pm on May 31, 2016 to discuss these defaults. We trust that Arch will honor its obligations to its obligees, the City of Hartford and the Hartford Stadium Authority.