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we are competing for Steve's time while he is working on another county project. I~'this is the case, <br />~„r Randy asked to be informed so he can bring the parties together to set some priori ies. <br />~ <br />Sth Floor: Dan reported that with the parking stall cost down, he had assumed l~e would get his <br />overall costs down by putting the fifth floor on the building. There are assumptions~ that the county <br />and transit will be paying 100% for some of their design features. His con~ern is that by <br />compensating the county for the land lease and parking, he may not be able to get th numbers down <br />to an amount that he can afford. If the fifth floor doesn't get built we might get a G P that is higher <br />than what has been forecast by having a tw-o story parking structure. The county wil not suffer. RG <br />may, but he is a little over budget. Dan does not have a back door. If he doesn't ge~ the fifth floor, <br />he will lose his investors. Once the cost goes over $50.00 sf, his backers will lose i$~terest. $45.00 <br />sf is acceptable. He doesn't have the high ti costs for retail that he has for the offic~ space. Dan is <br />very confident that we can get there with what we know today, but it is very tight. , <br />Dave reported that Curt generated the pricing from contractors and we should have current rates. <br />Alan asked if these are based on current construction market rates, or what we will see in the fall. <br />Dan said that we are not locking prices on the structure until November or Dece ~ber. Everyone <br />agreed that the later, the better. Dan wants a presentation for Randy and the Finan~e Team by the <br />end of next week. I <br />Randy is concerned that if the cost of the fifth floor is under $50.00 sf and the rest bf the structure <br />~ is $58.00 sf, it would appear that the fifth floor was subsidized. He has to be certain hat the county <br />doesn't give anything away. We need to be able to show the benefit of the fifth flo r to the rest of <br />the project or it will not survive the audit. Dan said that he has to be careful of the ov~rall blend rate. <br />He still has to contribute to the cost of the structure below. <br />Design: The design will be completed by June 4. Dan and Randy will meet v~ith the finance <br />team next week. ' <br />RG reported that there is growing concern from the merchants on High Street that ~e project will <br />take away their parking. They are also concerned about the noise and nuisance of th construction. <br />RG wants us to be proactive by getting a statement out as to what street areas we w'~11 take up with <br />construction. Alan said that we would be taking the parking lane from Chemek~' ta, Court and <br />Church. Len said that there may be periods of time when we will have to impede thel,parking on the <br />High Street side. There was discussion around taking the parking off High Street w~en the project <br />is complete. When transit takes out the space on High Street, parking will be returr~ed to the front <br />of the Courthouse. ' <br />The plaza space can be used for staging for the most part. Once the parking garage i complete, we <br />have the area of the bus mall for staging. Contractors are going to want trailers o the site. Dan <br />suggested staging on the Courthouse block, but Randy doesn't think this will happen. ; It will impede <br />on the courts and the visitors to the courthouse. ' <br />~ RG asked that the team make some of these decisions now, to be proactive <br />