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OS/25/99 14:a3 $503 588 5495 HLTMAN RESOURCES <br />To: Bob Cannon, County Adtninistrator <br />zomL Wasson <br />llate: August 9, 1 g~~3 <br />Re: Counti~s debt service and rental rate far Caurthouse Square <br />l~ 002 <br />~~c~~o~~ <br />~ D <br />• AU6 9.1999 <br />MARION CpUNTIr SUPPpRT <br />SERVlCE3 DEPAR7MENT <br />I received a voice mail fram David Hariwig concerning your questions and need to have an <br />undeistanding of the rental rate for Courthous~ Squar~:. I suggest wc g~t all the right parties in the <br />same room (David, Randy C,, You and who evcr else you deem appropriate) and I can take you <br />ttuough the detail and assumptions that make up the $1.20/ sq. ft projection. <br />Attached is t.~.e Proforma for the projec~ this is a lool that Melvin Mark and Com~an.y brough# to <br />the project. The key page to understanding the financial plan is the eighfh page titied " Schedule <br />of prosgective cash flow"_ Notice that thc revenue from Transit for their share of operations and <br />maintenancc and the revenue from pazking are bQth used as an o.ffset ta the ~ebt service. This <br />scheduie also assumes that we ha.ve used $2million of bond pmceeds to pay off debt early, that is <br />why the debt service at the bottam of the page is $1.3million per year rathcr than $1.Sm.. You <br />might als~ aate thax there is an annual sct aside for "major maintenance" of just over ~2300Q, I <br />don't believe we dQ that for other county buildings. <br />1 hope tius helps with an understanding of the $1.20 projection, I stand prepared to assist where <br />ever possible_ Thanks. <br />cc: Randy Gurtis <br />~:~avid~:Harhwig?: <br />Randy Fra,nke <br />