Laserfiche WebLink
<br />providing additional pazking for shoppers, enhancing retail shopping and adding open <br />space (plazas) to the core area. The Courthouse Squaze project is in conformance with <br />all of these goals. <br />2• The public/private partnership will a(low the county to lower the unit cost of the project <br />without asking for additional voter approved funds. <br />3~ The transit district has been asked to relocate the existing bus mall off High Street while <br />~a~nta~ning a transit facility in the central core area. The relocation, to a downtown site, <br />is made possible by the county's participation in the project. The project will provide the <br />district with a new centralized ticket and administrative office together wi[h a joint <br />conference facility and modera, more efficient transit center. <br />4~ The use of video lottery funds allows the county to match a share of the federal grant <br />($1,836,125) and partner with the transit district and a private developer. This <br />partnership will allow federal funds to cover an estimated $9,000,000 of the $26,000,000 <br />project costs. In addition, the private developer may bring $2_3,000,000 in funds to the <br />project for private office and retail space. <br />Cash }low Analysis: Approval of the FTA funds is currently pending. Final budget and cost <br />projections together with development and condominium agreements are required to obtain full <br />release of these funds. The transit district is currendy advancing funds to the counry, as a credit <br />against their ultimate purchase of an undivided interest in the project. However, there are <br />several expenses that are being billed directly to the counry that wil( come due in the next 90 <br />days. At this time, the counry is not assured that the FTA funds will be available to cover all of <br />our cash flow aeeds over the nexi 90 days. <br />Over the next several months the county will be billed directly for cosu associated with the <br />following services: <br />Legal fees <br />Financial analysis (Scott Clements) $ ~ <br />Environmenta( testing and analysis $~0,000 <br />$98,000 <br />2 <br />