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~ <br />Question: What happens if Marion County and/or Salem Area Transit abandon the <br />Courthouse Square prnject, and: <br />A. Neither agency proceeds with a project on the current site? <br />1. Marion County would have to refund Salem Area Transit's <br />property acquisition payment of $2,232,563. <br />2. Marion County would have to repay the internal loan from the <br />solid waste management fund of $600,000 plus $25,000 interest, <br />from general funds. <br />3. Marion County would have to repay lottery funds of $459,031 <br />from general funds. <br />4. Salem Area Transit has to reimburse the U.S. Treasury the <br />federal portion of Transit's property acquisition grant and those <br />funds are lost to the District for a project on another site ............ $1,786,050 <br />5. Marion County and Salem Area Transit must pay off all <br />outstanding contracts for demolition, abatement, relocation, <br />contamination mitigation, architecture & engineering, project <br />management, legal, and financial and environmental consultants <br />with total expenditures at ......................................... $3,295,358 <br />6. Appraised value of Senator Block prior to demolition (less <br />environmental clean-up) ................................................... $4,814,000 <br />7. Currsnt market value of Senator Block ................................... ($2,285,000) <br />Total Public Loss ..................................... $7,610,408 <br />Note: Transit would still have to acquire and develop an off-street downtown transit center <br />but would have $3,125,514 less funds available after loss of acquisition grant, lottery <br />funds, and unrecoverable expenses on Courthouse Square, which would have to be <br />paid from the District's general fund. <br />Marion County would still need to move County agencies out of the Court.house, to <br />accommodate the State Circuit Courts for Marion County, and provide permanent <br />facilities for departments temporarily housed in the Best building on Lancaster Blvd. <br />The County would have $4,943,924 less funds available after sale of the block, <br />repayment of Transit's land acquisition cost, and loss of unrecoverable expenses on <br />Courthouse Squaze, which would have to be paid from the County's general fund. <br />cn2 h-vnac irr ~ns~ss 2 <br />Page # <br />