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'OS/OS/98 09:09 '~`60~b888b26 CORRECTIONS wC ~a~ BOC ~ 003/005 <br />Quest~ion: What happens if Marion County and/or Sa~em Ar~a Transit abandon the <br />Courthouse Square Project, and: <br />A. Neither agency proc~eeds with a prnject on the current site? <br />1. Marion County would havc to refund Salem Area Transit's <br />prop~rty acquisition payment of $2,232,563. <br />2. Marion County would have to repay thc interna! loan from the <br />solid waste management fund of $600,000 p~us approximately <br />$48,000 intetest, ftoin getl~tel funds. d.,1~ 4f,ooo i~ a ~ec~ <br />3. Salcm Area Transit has to reimbwse tho U.S. Treasury tha <br />faderal portion of Trdnsit's property acquisition giaat and those ~ <br />funds are lost to the District for a project on another si~te ............ $1,786,050 <br />4. Marion County and Salcm Area TYaasit must pay off' all w~ ~~ ~,~ <br />outstanding contraccs for demolition, abatement, relocation, <br />contamination mitigation, architecturc & enginoeting, project <br />mauagcm~nt, legal, and financial and environmental consulrants ~` ~ <br />~-.,,,~`. <br />with total cxpenditutes at MM~wN~~wMM~y~r~~~~MM~~~~NN~ $3,318,358 ~ L~, , <br />5. Appraiscd vaiu~ o~ Senator Block prior to dcmolition (less <br />cnvironmental clean-up) .............».................................... $4,814,000 <br />6. Ciurent market va~uc of Senator Block ......................»........... ($2,285,000) <br />Tota! Public Loss ....» ............................... $7,633,408 <br />Note: Transit v~+oald still have to acquire and dcvelop an of~ street downtown transxt center <br />but would have $3,125.5141rss funds available after loss of 2~cquisition grant, lottery <br />funds. and unrecoverable eacpenses on Courthouse Square, which would have to be <br />paid fram the District's general fund. <br />Marion Coumty vc-ould still need to move County agencies out o~ the Courthousa, to <br />accommodate the Stat,e Ci~+cuit Courts for Marion County, and ptovidc permanent <br />facilities for departments tomporarily housed in thc Best building on Lazxcaster B~vd. <br />The County would have $4,9~ ess funds availablc after sale of the block, <br />repayment of Traasit's land acquisiGon cost, and loss of unrccoverable expenses on <br />Coarthouse Square, which would have to bc paid from the County's general fund. <br />cn2 ~wr,at rt~• ~rzaiss 2 <br />Pa9e !t <br />