Laserfiche WebLink
~ Project Summary <br />Nov. 14, 1997 <br />(5-story design) <br />Building size: <br />Land size: <br />Estimated cost: <br />County will finance ~ <br />Tra.nsit funding: <br />Streetscape (Salem): <br />Private development: <br />152,000 gsf (141,000 ns~ <br />County/transit office building only <br />349 x 331= 2.65 ac <br />$30,100.000 (excluding land )O <br />$19,500,000 <br />$ 9, 844, 000 <br />$ 1,300,000+ <br />unknown <br />Paz~g~ 258 stalls (underground) <br />66 space may be added underground on north side of block <br />59 space may be available at grade on north side of block <br />Interest rate & term: 6.34% @ 25 yr. (tax exempt portion @ 5.79%) <br />Estimated rental rates <br />County depts. $1.30/sf (85,000 s~ <br />private office $1.60/sf (29,000 s~ <br />Occupancy: <br />County <br />Co. expansion <br />Transit <br />Transit mall <br />55,000-99,000 gsf (first yeaz) <br />16,000-29,000 gsf <br />27,000 gsf <br />58,000 sf <br />Risks associated with cunent design & performa: <br />• Change in interest rates <br />• Guaranteed maximum price (GMP) may exceed cost estimates <br />~ Pre-construction environmental cleanup cost may exceed estimates <br />~ Expansion space may not be fully leased <br />• Cost for Operations & maintenance may exceed budget ($0.28/s~ <br />• Streetscape funds are not forthcoming <br />• Parking revenues may be overstated <br />~ Cost estimates do not include private development costs for north side of block. <br />