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_ , lc~i~iy~ <br />~. ' - <br />11:Uy c~sus 5~~ b4yb -iuniAN <br />' <br />- Creneral questions and discussion; ~n order to be a COP if has to be a lease purchase and it has to pay <br />off the entire purchase. 'The state st~uctures it ~t the~'v`~°n the title aad walk away with ownership. <br />~~ If the public does not own it then you do not have a COP. You can arrange the COP to be taxable <br />and non- taxable. What you are laying on the table is the cost of taxable and non taxable. <br />Bob asked if we wanted a discussion or do we want to make the selection or do we want to address <br />~ the issue of this is do-able? He asked how important it is to the County that we come out with <br />ownership of the building. <br />' Randy and Gary responded that it is important. And it is still of interes~ RG stated that he <br />understood of Randy to have said that we would consider using the Franklin bldg. <br />~ Ra.nd agreed an until Dan mentioned it, Randy finds it truly to the county's benefit to have <br />y <br />ownetship and these ass~s. This raises new questions that have to be addressed. The vatue of the <br />i building for law fums with on site patl~ing <br />David re~ponded that he doesn't sce either of thesc proposals meeting the needs of County and <br />, Transit Neither of the proposals present ownership or invested interest. David suggested that we <br />list what the relative assets of all the parties are and see what we have. ff we can bring that to the <br />party, there is no reason to ask others to take the risk We could join up with someone w o ~s <br />, willing to take the risk in managing tiie reta,il apace. For the pubLc tlus ~s a much bc~ttear use or <br />money_ <br />,~ Richard added that it became very evident to him that this is a real advantage to look at the assets <br />and see how we can manage them. We do not need a private partner, especially one who is not <br />~ willing to make a commitment Whai would benefit this project is bond counsel. and he suggest we <br />are premature in making a selection. <br />' Gary asked Randy to explain the time sensitive issues of the transit district. <br />RG explained that they must have a plan submitted by Sept. or they lose the lst million. RG agrees <br />' we can still follow these suggestions and still have time to make an informed decision. <br />Gary questioned/suggested that SABA is basically a ttunkey operation. The second presentation <br />' shows that they haven't got the package ready. H'is question is still how can we go with either and <br />have a plan in place by the dea.dline. <br />' Ed Martin asked if the transit district and the couaty were to build it themselves who would pay the <br />construction costs. <br />' Randy responded that you would need to hire a construction management fum. The county has <br />equity in the project but he dcesa't know~vhat tranait would put up to help with these upfront costs. <br />~ Maynard stated that you can capture the expenses and costs and pay it to yourself out front. <br />r ~- <br />, <br />