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Question: What happens if Marion County and/or Salem Area Transit abandon the <br />Courthouse Square project, and: <br />A. Neither agency proceeds with a project on the current site? <br />Marion County would have to refund Salem Area TransiYs <br />properry acquisition payment of $2,232,563. <br />2. Marion County would have to repay the iuternal loan from the <br />solid waste management fund of $600,000 plus approximately <br />$48,000 interest, from general funds. <br />3. Salem Area Transit has to reimburse the U.S. Treasuiy the <br />federal portion of Transit's property acquisition grant and those <br />funds are lost to the District for a project on another site ............ $1,786,050 <br />4. Marion County and Salem Area Transit must pay off all <br />outstanding contracts for demolition, abatement, relocation, <br />contamination mitigation, architecture & engineering, project <br />management, legal, and financial and environmental consultants <br />with total expenditures at ......................................... $3,318,358 <br />5. Appraised value of Senator Block prior to demolition (less <br />euvironmental clean-up) ................................................... $4,814,000 <br />6. Current market value of Senator Block ................................... ($2,285,0~0) <br />Total Public Loss ..................................... $7,633,408 <br />Note: Transit would still have to acquire and develop an off-street downtown transit center <br />but would have $3,125,514 less funds available after loss of acquisition grant, lottery <br />funds, and unrecoverable expenses on Courthouse Square, which would l~ave to be <br />paid from the District's general fund. <br />Marion County would still need to move County agencies out of the Courthouse, to <br />a~~nmmnr~otA f6a QtnYn (':.~n..ik !'~...rto f.... l~if........ !',.....t.. ....A ....,...:A,. «,.,.«...«,.«F <br />