Courthouse Square Internal Staff Team Minutes

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The rent speculative space was also removed to create a new cost flow. With the changes the marginal cost is 85¢ per rentable square foot. R.G. Andersen-Wyckoff said the thing that does not show up is that the change increases transiYs cost by $601,408, which makes it a project transit cannot afford to build because it increases the cost per square foot. Dan Petrusich said the change is about the same change in rent as the Franklin Building. However, the Franklin Building is eighty years old versus a new building with built in efficiencies. It is possible to put the occupants of the Frank~in Building into Courthouse Square and use 10-15% less space. There is also the long term maintenance issue of an eighty year old building. Randy Curtis noted based on a year 2000 figure the escalated square foot for the Frankin Building is 87¢ per square foot. Mary Pearmine noted the County left discussions on the Franklin Building out of the mix. It is an opportunity to use it as an asset to sell and consolidate people into Courthouse Square. The other concern is having the County look like it is competing with the private sector with the rentable space. This information will be good selling points for the five story building. Even with the politics it is important to build what the County really needs for space over the next twenty years. Discussion followed of growth within the County and the need for Courthouse Square to meet the growth for the next twenty years. Randy Curtis said if the growth continues as it is now the building will serve the County for ten years. The decision on the Franklin Building can be revisited over the next two years. Mary Pearmine said consideration needs to be given whether or not the County will grow in the same way it has in the past based on the past revenue patterns. Mike Hansen noted multiple governments are now sharing a tax base. In the past we could count on stable funding from year to year, now we are left with options to fix the plan. The plan will build on stability and cost handling. There was discussion on selling the expansion space if necessary in the future to return funds to the County. Randy Curtis noted if the space is leased the County will keep the space and continue to draw revenue from the leases. Craig Lewis noted having the expansion space provided an opportunity to subsidize the County space. The fifth floor will house all of the County leasable space and the Transit District. ~ 5. Sub-committee Status Page 3 of 4