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••••• DKAPT DOCUM~N'f - Nsxti Mestlrie Cbelrtbrr GowmmaMt AKaire Commtcuw y~o0 AM, Citxmber -••••• ,~ <br />Task Force Mi~Sion <br />. ~ <br />~ <br />Expfore opttons for deve(oPmerrt of the ~N6rth ~~Black of Cour~hause 5c~uare. ~ormula~Ce a plan, <br />Refine the Plan w(th Input frcm nori~Ghatnber s~akeh~otderg. Obt,~ln C?overnrnent Affalr6 ~nd <br />Board approval. Gommuntcatie aP~lroved find(nga to Lhe Marion County Board of <br />Commts6taners and the Salem Area Mass~•TranglC District. <br />f'rede~Cerminations <br />'Che follow(~g are slgnif(cant pt'edetei-mfned fac~s and not SubJect to our plan: <br />•'(he s(t~,e stze and tnaxtrrium heigFrt are fixeci. . <br />~'fhe currer~t butlding p~oJecti'w{It ~ovfda a con~tsuc~tan pad. capabia of supportlttg five <br />floorg. ~ ~ . ~ <br />• Extst(ng government tenantt •need 258 underground pa~{cing ~C~liS durtng normal <br />busMe55 hours. ~xlet(ng. governrnent tienarct's' do not currer~(y need the North B(ock <br />but(d(ng. Occupancy for other than Gounty or 7ransiti Dist.r(ct use must pcsovtde mar~ket <br />rate returns. ~ ~ ' ~ . <br />. fhere is Ukely a fitCure naed fo~•ad~t(tlanal GouY~y and TranslL afiPice space. 7he cou~y <br />has nat yeti commttted 'Co ctther a centralized or cleceritra~ixed strategY• Count~l budge~ <br />managers are concernec! wfth tihB•Posgt~llty cf p~ytng htgher~nterrtat rent~ for downtow~ <br />o~ff(r,e 6pace. 1'hey ~ect rents c#~aKged aga(nst thelr budgeC6 w~1i Increase from 7'O cer~ts <br />~Co $1.30 pe~ sc~uare f~ot. ~ ~ ~ . ~ , <br />Key Pot~rtS of Negotfatton <br />Tf1(6 ~ite !g emr{ronmental(~t clean anid in a des(cable area of 5alem. The butldtng wf(~ have three <br />of four s(des opcn for wfndow~. Howev~t', co„struct~on ~lowtttown ts e~cpenstve ~nd praseritly <br />there may be limtted ttt~r'keC demand.for.ofH~e space (n downtown Salsm. 'fhls proJect m~y be <br />put ou~ to btd only t~ flrtd there~are~t+o bidders. <br />fhe County ar~d 'franslt Dlstrlct liave .~ta~Ced. ~hey wlll ohly sesk market return5, not cost <br />recovery ~ market retu,rne. We do`not belteve..the~ NarCh Block projecti fs fea~tole for priv~te <br />developrnent under cost recovery p(us'r~iarket return aseuh+p~Ctans. <br />7}~e Gounty and Translt Distiricti Plart.~to retaln the land end allow a long term leaee. Thls may <br />be acceptable ~o a developer, but th~e Couh~jr and Transit D(g~Cr(ct should rematn ope„ ~o a <br />sate of the !a nd. . ~ . ~ <br />The Courity hes assumed no ope,ratltig revettue from. the North 6lock and t1~e 7rangt~ Dtst~fct <br />ha6 budgeted only a emall gmounC. fikls may be an ove~ conservaLtve a6~um~tton. A e~le or <br />lease of tihe North 61ock propertiy shduld bring a~etrong posttive return. <br />. . . ~ ' ~ ~ ~ ~ (,~,= <br />5alern Area Chamber of Commerce ~ ~~~~` J <br />~ North ~ Block ~Task Force Report ~` <br />Draft Ysrs(on ~d.2 - Patge 1 <br />