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,. <br />M1 <br /> <br />Trans(t Distrtct has budgeted only a small amount. Thts may be an overly conservattve <br />assumptton. A sale or lease of the North Block property should br(ng a strong posittve <br />return. Parktng spaces alone are currently leasfng for $65 per month tn 5alem and $165 per <br />month at some Portland parktng garages. <br />Desptte the strong destre of government entittes to encourage mass transit use, parking will <br />be a key negottattng factor. We understand 56 parkfng space5 are currently rererved for the <br />norCh block. These spaces may be included In the lease or sale of the whole properLy or they <br />could provtde ongotng revenue to the County and Transtt Dtstrtct. In additton to the 56 <br />reserved parktng space5, as many of the 258 reserved underground parktng stalis as posstble <br />5hould be ava(lable to the North Block butlding outstde of normal buslne5s hours. We <br />understand the need for securtty (n the parking area. <br />DeSired Outcome5 <br />The destred outcomes are presented in pr(ortty order. We acknowledge t~ie outcomes may be <br />(n confl(ct with each other. The outcomes must be balanced to f(rrd the overall most <br />de5frable proce5s. <br />Deslred Outcome #1: Maxlmum Utlllzatlon <br />We bel(eve tt ts most de5trable to have some uttlizat(on of the stte 24 hours a day. <br />To bring about th(5 desired outcome, we recommend: <br />/ Mtxed Use Whtch May Include: <br />• Retatl <br />• Offtce <br />• 5(ngle Room Occupancy (5R0) Houstng wtth approximately 270 sauare feet wtth <br />Murphy bed, prtvate bathroom, and kitchen area. <br />• Asststed Ltving <br />• Condomtntums in whtch occupants own thetr port(on of the building <br />• lofC apartmentslstudios <br />• Luxury houstng units <br />• Untversity student housing <br />. Parktng garage wtth a future converston optlon <br />/ Each posstble use should pay its true market rate. The north block 6hould not be seen as <br />an opportunity for soctal engtneertng. Permanent substdtzed houstng doe5 not have a <br />place on the most expenstve real estate tn 5alem. By permanent substd(zed housfng we <br />mean low income livtng arrangements perpetually substdized by government enttttes. We <br />do not mean housing that c~ualif(es for constructton tax credits such as the current 10 <br />year tax abatemer~t whtch we under~tand appltes to some of our mtxed use sugge~tions. <br />/ A stgntftcant anchor tenant wtll help keep occupancy rates up for the rert of the butlding. <br />The worst outcome would be an empty butid(ng or bustnesses constantly opentng and <br />closing. <br />Approved Yerslon 5.1- Page 2 <br />