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Oa!11i98 13:0: $5015385526 CORRECTIONS F1'C ~~~ PERSONNEL [~OOii009 <br />. c. Construction of Courthouse Square would mean <br />renovation of parts of the Courthouse for court expansion and <br />modernization of the Franklin Building for commercial tenants. <br />~ SPOC believes that preliminary cost estimates for those two <br />projects need to be explained in greater detail and the costs <br />assessed in terms of their impact on county services. <br />d. SPOC needs a stronger demonstration that an assumed <br />rate of $1.64/ft/mo for expansion rate leases is reasonable. What <br />is the result if $1.60/ft/mo is not achievable? <br />e. A best and final project, financing and operating <br />budgets and an updated "pro forma" cash flow on the project should <br />be presented to SPOC. The pro forma shauld cover a 10-to 15-year <br />planning period. Further, the cash flow should be produced in a <br />traditional style showing deficits in periods in which expenses <br />exceed revenues. Al1 assumptions for the cash flow should be <br />shawn. <br />/ f. Have both boards examined their personnel needs in <br />order to have the most cost-effxcient operation possible? - <br />~ g. Is a blended interest rate of 6.34~ a reasonable <br />assumption? (See item 16 of the 11/14/97 pro farma.) <br />h. On the basis of data so far made available to SPOC, <br />SPOC estunates the county operating defi.cit caused by Courthouse <br />Square will be 5450,000/yr. SPOC is cancerned about the ability of <br />the county to pay for the facility without cutting into operations <br />of the departments. Without a completed budget process, and long- <br />range financial planning, is it possible to de.termine what program <br />5 <br />