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~ <br />~ <br />~ <br />10. Until a private partner for development of retail on north pad is known, the financial impacts <br />on total project are unknown. The public/private partnership has been the major theme in <br />this project and if successfully done completes the vision. <br />11. Additional environmental cleanup costs may be incurred during excavation phase. <br />After further discussion by staff and at staff's request, item #1 pertaining to the sinking fund will <br />be removed from this report before it is sent to SPOC. It is an issue that needs attention, but it is <br />a county-wide issue a.nd should not solely be attached to Courthouse Square. It will be addressed <br />in another forum and covered under today's agenda item #4. <br />Staff also recommended a change in terminology for #6 parking issue. The word required should <br />be changed to "required/desired". <br />The Opportunities category listed several options under consideration to minimize risks outlined <br />above. <br />1. Blending of various rental rates for county buildings and changing assessment polices would <br />spread facility expenses across all funds countywide and effectively lower assessment to <br />Courthouse Squaze departments. Staff discussion lead to the deletion of this item from the <br />Courthouse Square document as well, as it addressees similar issues/concerns as item #1 of <br />risks, and would be addressed in another forum. <br />2. Project contingency fund is $3.6 million. This was addressed in Tuesday's meeting as well <br />as in a county board presentation. <br />3. Profits generated from commercial leases in Franklin Bldg. and Courthouse Square could <br />be used to offset assessments to county depts. <br />4. The ability to invest in quality and energy efficient building systems can reduce long term <br />maintenance costs. <br />In addition to this written report, there will be back up data attached to this report including <br />proforma, O& M expenses & narratives, a.nd Melvin Mark work. Recommendation was made to <br />change the title to Courthouse Square Proforma Analysis and put a current date at the top of the <br />report. This is a good report. <br />4. Coun.t~ Impact Analysis <br />Billy Wasson handed out a copy of the Service Impact Options - Marion County Courthouse Square <br />that was distributed at Tuesday's internal county meeting. Ken Roudybush made that presentation <br />and went through the document for staff. The first page addressed option to address the shortfall <br />and were not in any priority. Ken went through the assumptions used for the analysis. The total <br />general fund impact as known now shows a$218,000 increase in rental change. The state court <br />impact costs to backfill the courthouse are at $201,000, making a total of $420,000. R.G. <br />Andersen-Wyckoff had a copy of a 1996 draft analysis that was prepared by Randy Curtis and <br />presented to the board back in 1996 showing projected rental impacts. This number isn't materially <br />different from the bottom line numbers on Ken's spreadsheet. The $420,000 is based on the $1.30 <br />Page 3 of 4 <br />