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approved). The remaining portions of the project (retail and private office) would be <br />funded by the developer. <br />2• The developer may act only as <br />a project manager providing financial, architectural and construction services. <br />3. <br />Project Scope: <br />The project will include the entire Senator block, approximately 2.65 acres. The transit district <br />will occupy much of first floor. Some retail is also expected on the ground floor. A 350-400 <br />space parking structure (county owned) is being considered either below or above ground or <br />some combination thereof. The upper floors will contain county offices, some privately leased <br />offices and transit district offices. In addition, other tenants may include the State of Oregon, <br />Council of governments, a day care facility and a private fitness/health club. The square footages <br />at time of initial occupancy are estimated as follows: <br />County offices 75,000 gsf <br />Transit offices (excluding bus mall) 20,000 gsf <br />COG and Day Care 20,000 gsf <br />Private retail 30,000 gsf <br />Private office (State etc) 45,000+ gsf <br />190,000 gsf <br />Financial Resources: <br />The following financial resources are available or have been requested to develop this project. <br />Transit District / FTA funding $7,000,000 <br />Federal grant (pending) $3.500,000* <br />City of Salem (urban renewal) $1-2,000,000 <br />Private financing (developer) ? <br />County ? <br />*$925,000 is earmarked for additional land purchase <br />Costs Issues and Assumptions: <br />Construction costs are estimated by developer at $90/ sq ft <br />Operation and maintenance costs are estimated by developer at $0.33 / sq ft. <br />Site demolition and abatement is estimated by county at $2,450.000 <br />Purchase of 3 parcels on block in private ownership is estimated at $925,000 <br />