Laserfiche WebLink
Courthouse Square <br />Primary Budget Assumptions <br />• Assumes Marion County occupies 96,622 sf. An additional <br />2,633 sf is assessed for 1/2 interest in the first floor conference <br />room. Assumes a 0% vacancy rate within County-occupied <br />space. <br />~ Assumes Salem Area Transit controls 24,193 sf of office. An <br />additiona12,633 sf is assessed for 1/2 interest in the first floor <br />conference room. <br />• The model assumes 258 stalls subsurface and 59 above grade <br />parking stalls. <br />• Assumes Transit pays $9,844,000 cash for their interest and <br />pays no rent. <br />• The models reflect Marion County rents not to exceed <br />$1.30/month per rentable sf. <br />• Assumes a 5.25% (exempt) interest rate on a standard 25-year <br />amortization schedule.. <br />~ Assumes Marion County qualifies for a completely exempt <br />rate. <br />• Assumes Marion County leases out 15,302 sf of speculative <br />space. Assumes the space is leased to a non-exempt tenant. <br />The model assumes a 5% vacancy rate on speculative space. <br />3/6/98 <br />