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Proforma <br />11/14/97 <br />Assumptions: <br />1. Five story building (258 parking stalls) <br />2. 59 additional parking stalls above grade <br />3. County controls 277 stalls, income per stall, $40/ month <br />4. Transit purchases 40 parking stalls <br />5. County occupies 82,959 sf <br />6. County expansion space, 29,000 sf (leased to non-exempt tenant) <br />7. Vacaacv rate is 0% (July 1999) <br />8. Transit occupies 24,965 sf (pays rent for O& M costs only) <br />9. Transit contributes $9,844,000 to project <br />10. Joint hearing room 5,266 sf, shazed 50/50 <br />11. Operations and maintenance cost, $.284 / mo. (escalates at 4% / yr) <br />12. Parking fees escalate at 4% / yr. <br />13. Model reflects 51.30 / mo. (~15.60 annually) for county office rent <br />14. Expansion space leases at $1.60 / mo <br />15. 25 year term on counry revenue bonds <br />16. Blended interest rate for county 6.34% (tax exempt=5.79%, non-exempr 8%) <br />17. Leasing commission is calculated at 6% for first 5 yrs. 3% for second 5 yrs. <br />18. Contingency increased to $1,450,000 <br />Risks and/or variables: <br />1. Interest rates may chaage <br />2. Guaranteed Maximum Price (GMP) has not been fmalized <br />3. Environmental cleanup cost may exceed budget <br />4. Expansion space may not be fully leased <br />5. O& M expenses ($.284) may be low <br />6. Parkin~ revenues may be overstated <br />7. Streeucape funds are not forthcoming <br />8. Square footage allocations for County Offices have not been finalized <br />