Demolition Documents (compiled notebook)

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~ ~ C) Related to the issue of development of the north block, it is in the best interest of the Salem economy for the county and transit district to be able to sell a fee title for the north block. The county and transit district should examine all possibilities related to partitioning of land to enable this to occur provided that: 1) bond counsel is satisfied 2) the Transit District suffers no economic loss* and 3) the north block be subject to a significant easement for underground parking. *If the federal government is ultimately the obstacle that prevents the sale of the north block, the Chamber requests the federal documents showing such. D) Whether the north block is sold or leased, we believe the county should retain ownership and use of the underground parking due to security reasons. The Chamber stands by our original position that "the County must take full responsibility for the parking needs that the Courthouse Square project will generate." The additional cost required to build the underground parking under the north end of the block is worth the investment and the county should recover costs through monthly parking fees in reasonable time. II. Financial Feasibility In the Chamber's original report, we stated "if the Courthouse Square project is built efficiently, ~ it is financially feasible if the issues of parking and potential reduction in other county services are addressed." T'he Task Force was assured that the impact to county services will be minimal if any at all. It appears that the county is in a good financial position and the costs of the project aze within projections. It does make good business sense to take advantage of current interest rates and pursue the certificates of participation as soon as possible. Taking advantage of lower interest rates will provide the opportunity to make an investment in underground parking without significantly impacting original cost figures of the project. Consequently, despite the reservations of some board members, the Chamber will continue to support the Courthouse Square project if the project team takes prompt action and follows through with the parking recommendations as suggested in this summary.