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<br />rlarron Count~ <br />OREGON <br />GENERAL SERVICES <br />ADMINISTRATION <br />(503) 588-5455 <br />FAJ( (503-588•5495) <br />FACILITIES <br />MANAGEMENi <br />(503) 588-5754 <br />FA%(503~373-4430) <br />HUMAN RESOUFCES <br />(503) 588•5765 <br />FAX(503-588-5495) <br />PURCHASING & <br />SERVICES <br />(503) 588-5295 <br />FAXI501-37J~4379) <br />PROPER7Y MANpGEMENT <br />(503) 588-5047 <br />FAX (503-588-5495) <br />BOARD OF <br />COMMISSIONERS <br />Randall Franke <br />Gary Heer <br />Mary B. Pearmine <br />ADMINISiRATIVE <br />OFFICER <br />Ken Roudybush <br />Ch2 1r'roject ~Kemorancdum <br />To: Board of Commissioners <br />From: Itandy Curtis, Project Coordinator ~2e' <br />Subject: Video Lottery funds <br />Date: February 12, 1997 <br />e~~n:~~~ co!~rri~r <br />nl r.NNl~ir, ,r:n~~^:nni <br />FE~ 2 6 1937 <br />Background: In December of 1996, the Boazd gave tentative approval to allocate <br />$459,031 in video lottery funds to the Courthouse Square project. These funds <br />would sen+e as the matching funds to the federal (FTA) grant secured by Senator <br />Ha~eld. As a condition of final approval, the Board requested a cash flow <br />analysis for the project and justification that the funds would support economic <br />development. <br />Economic Development: Courthouse Square is a joint redevelopqaent of the <br />Senator Block in downtown Salem. A partnership has been created between <br />Marion County, the transit district and a private developer. Upon completion, the <br />project will include a new Vansit mall, county offices, private office and retail <br />space and parking for 330 vehicles. The use of video lottery funds for the project <br />will result in direct bene6ts to the greater Salem community and support <br />economic development goals in the following maoner. <br />1. The project is in conformance with the ~ewly adopted Core Area master <br />plan for downtown Salem. The plan envisions refurbishing store fronts, <br />1 <br />Senator Building • 220 High Street NE • Salem, Oregon 97301-3670 <br />