Meetings Steering Committee(Folders 1-2)

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What are the costs associated with remodeling the three downtown office buildin~s? Although it may not be feasible to upgrade each building to current seismic standards, we have included seismic upgrades in the remodeling costs. The Senator Building will be the most costly of all buildings to remodel. Unfortunately, seismic upgrades of these old buildings will not guarantee their useability after a major earthquake. The cost estimate for seismic upgrades of all three buildings is $ 1,600,000 - 3,400,000. Senator remodel: $ 3,500,000 - 6,000,000 Franklin remodel: $ 1,000,000 - 1,500,000 CDC (Ticor) $ 200,000 - 500,000 $ 4,700,000 - 8,000,000 v~~ ^ ~~~ da~~:~u ~ **** Option 2 Analysis **** What is the cost of buildin~ a new Public Service Buildin~? This option is based on the recommendations contained in the Downtown Subcommittee report. Public Service Bldg. (110,000 ns~ 110,000 nsf = 138,000 gross sq. ft. 138,000 gsf x$135/sq. ft. _$ 18.6 million $ 18.6 million construction cost $ 1.0 million demolition cost ~ $ 19.6 million .~ ~~ p PAY k~ h,' S~~ c C **** Option 3 Analysis **** What is the cost of purchasing the Equitable Buildin~? The Equitable Building is located two blocks north of the Courthouse. It contains 132,000 gsf and 115,000 nsf. It also has 152 on site parking spaces. The net leasable sq. ft. appears to be adequate to accommodate the County's 2013 space needs. The Building and land is valued at $7,549,620. We have no information on the seismic standards, therefore we have assumed that it does not meet current code requirements. Some remodeling would also be required to accommodate public offices, ADA standards and computer/telecommunication links with other offices. The cost estimate below is not based on a consultant's review of the Building. $ 7.6 million purchase costs $ 1-2 million seismic upgrade $ 1-2 million remodeling/code upgrades $ 9.6 - 11.6 million