Laserfiche WebLink
i <br />~ ~ <br />Courthouse Square Project Summary <br />Assumptions: <br />1999 County Budget (ali funds) $1,080,000 (see spreadsheets) <br />Desired lease rate (lease/purchase) $1.20/ sq. ft. <br />Amount to finance @ 25 yrs $13,858,000 <br />County occupancy based on 75,000 gsf (see occupancy report) <br />Number of parking stalls 340-400 (co. sp. 150-200) <br />Amortization of debt service 25 years <br />Factors influencing annual county cost: <br />(ea. l million in cost =$.07-$.10) <br />• reduce county occupancy (ea. 5,000 sq ft=$72,000/yr.) <br />• reduce gross to net square footage ratio (ea. 5% _$63,000/yr.) <br />• use Hatfield federal grant ($3.5 million) <br />• payments by transit to count~ ($1.5 million plus) <br />• demolition cost may be over budgeted (possible savings= $1 million) <br />• underground parking may add $1 million <br />• cost of tenant improvements and furnish'ings? <br />• construction cost at $80 vs $90/ sq ft <br />• interest rates (est @ 6.5%) <br />• changes in COP amortization schedule <br />• parking and land lease revenues <br />• contribution from Salem urban renewal funds <br />• purchase and/or condemnation of private property <br />4 <br />