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• <br />Proforma <br />11/14/97 <br />Assumptions: <br />1. Five story building (258 parking stalls) <br />2. 59 additional parking stalls above grade <br />3. County controls 277 stalls, income per stall, $40/ month <br />4. Transit purchases 40 parking stalls <br />5. Counry occupies 82,959 sf <br />~~ <br />6. County eYpansion space, 29,000 sf (leased to non-exempt tenant) <br />7. Vacancy rate is 0% (7uly 1999) <br />8. Transit occupies 24,965 sf (pays rent for O& M costs only) <br />9. Transit contributes $9,844,000 to project <br />10. Joint hearing room 5,266 sf, shared 50/50 <br />11. Operations and maintenance cost, $.284 / mo. (escalates at 4% / yr) <br />12. Parking fers escalate at 4% ! yr. <br />13. Model reflects 51.30 / mo. (~15.60 annually) for county office rent <br />14. Expansion space leases at $1.60 / mo <br />I5. 25 year term on county revenue bonds <br />16. Blended interest rate for county 6.34% (tax exempt=5.79%, non-exempt= 8%) <br />17. _ Leasing commission is calculated..a ° o for fust 5 yrs. 3% for second 5 yrs. <br />18. Contin~ency increased to $1,450,000 , <br />Risks andlor variables: <br />1. Interest rates may change <br />2. Guaranteed Maximum Price (GMP) has not been fmalized <br />3. Environmental cleanup cost may exceed budget <br />4. Expansion space may not be fully leased <br />5. - O& M expenses ($.284) may be low <br />6. ParkinQ revenues may be overstated <br />7. Streetscape funds are not forthcoming <br />8. Square footage allocations for County Offices have not been fmalized <br />~ <br />