Development Team Meeting Notes (96-99)

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~ mechanical designs as well. The 5 story meets county's 20 year projections, but still may be a little on the high side as faz as square footage needs. ~ Takin these numbers and addin in TI costs from revious calculations, we are still at $21 million. S g P Randy and RG believe that number needs to be down at the $18 million figure. Some discussion was held if the TI costs were an accurate number to include. As far as TI's, county needs to pick a position and put it in the model and don't count on income in the performa. We have to go in with streetscape assuming it is a wash. The numbers that NIl~IDC will put together will give us a better target. It may help county out, but end up hurting tiansit. MIVIDC will have more information ne~rt week. We can focus on areas to cut or refine. We can squeeze the parking and shell and get tighter numbers structurally. Streetscape will take care of itself. Let's also look at pulling out 5,000-10,000 sf from building. Leonard has worked on a version that would do this. County had concems about indirect costs savings for giving up both space and income down the road and what it actually gains the project. Leonazd did a quick diagram with options to cut space, but it is limited by columns relarive to parking structure below. Right now we have a very efficient parking struchue. Working off the ideal floor plan that Dan and Craig have discussed thaR has a very efficient center core, lays out well and also leases well, cutting a section from this would not impact the design. It will shift about 2 feet on each side and won't be noticed that much. Work needs to commence on toning the shell and pazking mechanically, electrically, and structurally. Leonazd and Dave need to have a meeting to work on these areas as soon as possible and work with Interface on being more conservative in their numbers. ~ Byron asked if there are certain performance requirements to target to give Pence/Kelly more direction as to the true goals. Can we address the $2 million? County responded that there are choices to be made and it also depends on the interest rate available. The amount the county needs to borrow is critical. There isn't enough daia yet. Right now it shows we are off by $2 million, but it could go away. The target is not yet identified. Latest Design There is not a lot to show with regard to status of new concepts. The architect's office is continuing efforts to rationalize window schemes. Leonard can bring in drawings ne~ week to look at. We are looking ai options for a window scheme that would work better and make Dave happier. The issue of ~ concrete vs. steel has been raised with Mike Hayford, but we have not received any feedback. There are options to be analyzed as far as cost and/or time savings, as well as fireproofing the building. Additional discussion was held regarding availability of steel for the project. Given our current schedule, saving time in construction won't save dollars. We need to cut the cost of maierials. The time savings will affect overhead for Pence/Kelly, not the whole project. FTA funds are not limited by any time restrictions. North End Retail We have about a two to three week time frame before the RFP will be going out on the rztail development. We need to be thinking about different aspects of this process like how stringent in design review, how it will blend with our project and how logistically it will be reviewed. Defining compatibility is very subjective. We don't want to put too many conditions up front. There would be a review committee. County, transit and the developer will work together to continue the review process. There has been very positive interest by the northem neighbors of the project. Our leasing agent has indicated that the value of property on the west side of High Street will be extremely high. We want to ~, continue to include the adjacent businesses in our considerarions. Page 3 of 4