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Senator site would permit the sale of the Franklin Building. <br />3. It may also be possible to use certificates of participation (COP) to acquire the <br />building. <br />D. OPTIONS CONSIDERED <br />1. The committee considered six options, four of which require the construction of <br />a new or downsized Public Service Building. <br />2. One option, which proved the least desirable, was the retention and remodeling of <br />the four existing downtown buildings. The downtown buildings do not contain sufficient office <br />and parking space to meet future needs and the Senator Building is in need of extensive repairs <br />within the next five years. Furthermore, the cost of this option could be nearly as high as the <br />purchase of the Equitable Building. <br />3. The purchase of the Equitable Building will require the county to conduct further <br />studies on the future use of the Senator Block and Franklin Building, including possibly <br />reconsideration of the joint development project with the Transit District. <br />E. RISKS AND LIABILITIES <br />1. The county has not conducted a detailed study of the Equitable Building to <br />determine its structural condition, state of repair or income and operating expenses. <br />2. It is also located two blocks from the courthouse which makes travel for <br />departments like the District Attorney more difficult. <br />3. The county will also need to evaluate future use of the Senator Block if that <br />property is not redeveloped for county offices. <br />4. In the event that voter approval is required to fund the purchase of the Equitable <br />Building or build a new Public Service Building, it may be difficult to obtain voter support given <br />the importance of detention, health and criminal justice facility needs that have been identified <br />PAGE 21 <br />ksj/cd/Facilities.Int 08/10/95 <br />