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~`~/~ ~~;i/~~~, <br />Courthouse Square <br />A Marion County/Salem Area Transit <br />Joint Development Project <br />~V~~~ <br />To: Board of Commissioners <br />From: Billy F. Wasson, Project Manager <br />Re: Estimate of remaining funds <br />September 27, 2000 <br />Craig Lewis, Melvin Mark and Co. , and I have collaborated to project an updated balance at the <br />conclusion of the project. Transit is behind in posting and updating the expenditure reports and <br />so we have taken a view from a"cash position" basis to view the closure. There are many <br />assumptions made in this projection and you need to keep that in mind. <br />Balance as of 8/31/00 <br />$2,489,881. ..Norwest bank Trustee <br />1,312,821. ...Marion Co. Treasurer <br />3,802,702 Total available <br />2,000,000) Early debt reduction <br />$1,802,702 Balance of cash available <br />856,034 Reimbursement from base contract Streetscape <br />8Q 175 Reimbursement from change orders Streetscape <br />$2,738,911 Cash balance <br />($1,463,081) July and August billing due Transit <br />$1,275,830 Balance <br />Balances owing Pence Kelly Contract <br />($80,862) Base construction contr~act <br />( 88,438) Change orders <br />( 72,0 %0) Change order #25 (not approved yet but on the way) <br />S0~o~7~ CO ~f?~ <br />$1,034,460 Balance <br />228,092) Unallocated contingency ~~o-U,f~ ~~'~~~Uh~ ~yi~ <br />806,368 Balance available to pay other obligations <br />