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C) Related to the issue of development of the north block, it is in the best interest of the Salem <br />economy for the county and transit district to be able to sell a fee title for the north block. The <br />county and transit district should examine all possibilities related to partitioning of land to enable <br />this to occur provided that: 1) bond counsel is satisfied 2) the Transit District suffers no <br />economic loss* and 3) the north block be subject to a significant easement for underground <br />pazking. <br />*If the federal government is ultimately the obstacle that prever.ts the sale of the north block, the <br />Chamber requests the federal documents showing such. <br />D) Whether the north block is sold or leased, we believe the county should retain ownership and <br />use of the underground parking due to security reasons. <br />The Chamber stands by our original position that "the County must take full responsibility for <br />the parking needs that the Courthouse Square project will generate." The additional cost <br />required to build the underground parking under the north end of the block is worth the <br />investment and the county should recover costs through monthly pazking fees in reasonable time. <br />II. Financial Feasibility <br />In the Chamber's original report, we stated "if the Courthouse Square project is built efficiently, <br />it is fmancially feasible if the issues of pazking and potential reduction in other county services <br />are addressed." <br />The Task Force was assured that the impact to county services will be minimai if any at a11. It <br />agpeazs that the county is in a good financial position and the costs of the project are within <br />projections. It does make good business sense to take advantage of current interest rates and <br />pursue the certificates of participation as soon as possible. Taking advantage of lower interest <br />rates will provide the opportunity to make an investment in underground parking without <br />significantly impacting original cost figures of the project. <br />Consequently, despite the reservations of some board members, the Chamber will continue to <br />support the Courthouse Square project if the project team takes prompt action and follows <br />through with the pazking recommendations as suggested in this summary. <br />~ <br />