Meetings Steering Committee(Folders 1-2)

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than constructing a new Public Service Building and at least $S'million less than a downsized (Phase I) Public Service Building. 2. The acquisition of the Equitable Building would permit the county to sell the Franklin and Senator properties; and the construction of a new Public Service Building on the Senator site would permit the sale of the Franklin Building. 3. It may also be possible to use certificates of participation (COP) to acquire the building. D. OPTIONS CONSIDERED 1. The committee considered six options, four of which require the construction of a new or downsized Public Service Building. 2. One option, which proved the least desirable, was the retention and remodeling of the four existing downtown buildings. The downtown buildings do not contain sufficient office and parking space to meet future needs and the Senator Building is in need of extensive repairs within the next five years. Furthermore, the cost of this option could be nearly as high as the purchase of the Equitable Building. 3. The purchase of the Equitable Building will require the county to conduct further studies on the future use of the Senator Block and Franklin Building, including possibly reconsideration of t~e joint development project with the Transit District. E. RISKS AND LIABILITIES 1. The county has not conducted a detailed study of the Equitable Building to determine its structural condition, state of repair or income and operating e~enses. 2. It is also located two blocks from the courthouse which makes travel for departments like the District Attorney more difficult. 3. The county will also need to evaluate future use of the Senator Block if that PAGE 21 ksj/cd/Facilities.Int 03/18/95