Meetings Steering Committee(Folders 1-2)

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Added to this capital cost would be the operating costs for an estimated two shuttle buses to sen~e the southem portions of the Capitol Mall and Downtown areas. Annual operating costs are estimated at $280,000, along with a one-time capital cost of $400,000 to purchase the necessary vehicles. Over a 25-year period, capital and operating costs combined (excluding maintenance and depreciarion) is estimated to exceed $11 million. Oddfellows Site Design, engineering and conshucrion, induding removal of the existing buildings, is estimated at $3.6 million for the transit-only portion of the project. Over 25 years, total costs including the full multi-level development out to 400 parking spaces (and less maintenance and depreciation) is estimated at $8 million. It is expected that a significant portion of this cost would be offset by revenues from ]ease of parking and commerciaUretail space. SUIvIMARY Measured against the typical evaluation criteria that are used by transit operators to analyze potential facility sites, each of the two locations _reviewed in this report is suitable for development. In the case of the Marion Parkade, the Disri-ict is looking at the remodelling of an existing parking structure to serve the needs of a public transit center. While not an ideal way to develop a transit facility, the point to be made in this report is that it appears to be feasible both economically and from an engineering perspective to undertake this project. It is, in a word, "doable." Whether it is feasible from the standpoint of businesses that may or may not want to have the ri•ansit center in the parkade is a reasonable question, but that is not the topic of concern at this point. The site's sh•engths are its initial low cost, its minimal impact on existing businesses, and the speed with which conshuction could be completed and operations begin. While the parkade offers a low initial capital cost, that changes with the addition of a level of replacement parking and with the ongoing operating cost resulting from the needed shuttle services. In the case of the Oddfellows site on High St., the initial investment in both time and resources is at a higher level. It would appear, though, that the potential retum is greater, in teims of supeiior location for the convenience of transit riders, lower operating costs, and return on the inveshnent. The project would be designed and conshucted as a transit faciliry, and would better meet the needs of the Dishict and the public. Impacts on surrounding businesses could be moderated significantly, particularly when considering the excellent cenri~al location of the site. 6