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DRAFT <br />DATE: March th , 1998 <br />FROM: Marion County Commissioners <br />TO: Special Project Oversight Committee <br />RE: Economic Feasibility of Courthouse Square Project <br />With reference to the `Interim Report to the Transit District and County of the Special Project <br />Oversight Committee' dated March 13, 1998 Item 13; the Marion County Commissioners, at this <br />stage, extend their confidence and support to the County Budget officer's conclusions, (please <br />see attached memo), that the Courthouse Square Project is economically feasible, and total <br />project financing and operating budgets are reliable, and that the project meets expectations <br />without "substantially hurting" existing County programs. <br />As stated in Mr. Roudybush's memo, (please see accompanying data), Marion County expects <br />that the County General Fund will incur an additional $218,500 in annual rental costs as a result <br />of moving certain departments to the Courthouse Square at a rental rate of $1.30 per SF. The <br />impacts to the County non General Funds, under these same conditions is $395,757. <br />Marion County currently anticipates an increase in revenues of approximately $2.1 million in <br />Fiscal Year 1998-99 that will be sufficient to mitigate the anticipated additional costs of -~ <br />$218,500 to the Marion County General Fund. <br />Therefore, the Commissioners are confident that based on the County Administrator's analysis, <br />completion of the Courthouse Square project is economically feasible, and will not <br />"substantially hurt" existing county programs. <br />