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~ <br />Summary of Fifth Floor option: <br />2/ 12/97 <br />Finance Options: <br />Budget: $1,017,000 (72,000 GSF @ $1.177 per/GSF) <br />Less: O& M: ~ 276,000 (72,000 GSF @$3.83 per/GSF w/o Taxes) <br />Debt Service: $ 831,000 <br />Debt: @ 5.75% / 25 yrs.: Fixed Payment : $10,990,000 <br />Annual Increase @ 2.5%: $14,320,000 <br />Assumptions: <br />Two level parking structure. <br />Gross Square Footage: 72,000 <br />No Lottery Funds Used. <br />Transit receives a 40% ownership. <br />Budget for Hazardous Materials: <br />Budget for Demolition: <br />Streetscape Credit: <br />Contingency Account: <br />$400,000 ( Assessment not complete.) <br />$800,000 (Without Bids.) <br />$301,000 (W/ County @ $196,402) <br />$720,396 @ 5% of total cost. <br />Estimated Gross Square Footage of Current Design: <br />Parking Count <br />175,300 Rounded 332 <br />Less; Transit: 19,323 23 <br />Ground Floor: 29,039 30 <br />County Balance: 126,938 <br />County Offices: 72,000 150 2.45 / 1,OOOsf <br />Private Offices: 54,938 +/- 129 2.3 /~ 1,OOOsf <br />Fifth Floor: 30,000 +/- 73 (@ 4~05 stalls) <br />2.4 /' 1,OOOsf <br />Problem parking for private at 3 to 4 per / 1,000 nsf. <br />(55,000 / 85% = 46,750 nsf: 140 to 187 spaces, versus 129. <br />Options: 1) Take 11 stalls from the County count. <br />2) Reduce the Private space to 32,000 to 43,000 ns£ , <br />This would not be a good option when you consider the rev~nue lost to <br />the County. <br />3) Redesign the Atrium to pick up 13 to 18 more stalls. <br />~ <br />