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1. Proceed. with the project as a three party venture. Federal funds would finance the <br />transit portion and a small part of the county's costs. The county would use <br />COP's or similar financing to pay for our portian of the project supplemented by a <br />small federal grant (if approved). The remaining portions of the project (retail <br />and private office) would be funded by the developer. <br />2. Proceed as a finro party venture (county and transit only). The developer may act <br />only as a project manager providing financiai, architectural and cons#ruction <br />services. <br />3. Withdraw from the project (no build) and seek other opportunities. <br />Project Scope: <br />The project will include the entire Senator block, approximately 2.fi5 acres. The transit <br />district will occupy much of first floor. Some retail is also expected on the ground floor. <br />A 350-400 space parking structure (county owned) is being considered either below or <br />above ground or some combination thereof. The upper floors will contain county <br />offices, some privately leased offices and transit district offices. In addition, other <br />tenants may include the State of Oregon, Council of govemments, a day care facility <br />and a private fitness/health club. The square footages at time of initial occupancy are <br />estimated as follows: <br />County offices 75,000 gsf <br />Transit offices (excluding bus m~ll) 20,000 gsf <br />COG and Day Care 20,000 gsf <br />Private retail 30,000 gsf <br />Private office (State etc) 45.000+ Qsf <br />190,000 gsf <br />Financial Resources: <br />The following financial resources are available or have been requested to develop this <br />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 />