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C ourthous e S quare <br />A Marion County/Salem Area Transit <br />Joint Development Proj ect <br />PROJECT FINANCIAL STATUS REPORT <br />AT 50% COMPLETION POINT OF CONSTRUCTION <br />Attached is a project financial report of all project activity beginning in <br />1996 through December 17~'. 1999. The report is derived from financial <br />records of Marion Co. and Salem Area Mass Transit and converted into <br />the project proforma format of Melvin Mark and Company (construction <br />managers under contract to Marion Co. and Transit). Some overall <br />observations may help in understanding this project status report: <br />• Change orders are included through number 16 <br />• Funds have been moved from contingency to cover change orders <br />as they have been approved. . <br />• Marion County has spent 50% of its resources as of the date of this <br />report. <br />• 46% of the Pence Kelly construction contract time period has <br />expired. <br />• Approximately 80% of the total project time period has expired. <br />• This report includes the expense for Courthouse Square and the <br />Northblock development to date. <br />• In the next 30 days staff will propose an amended financing <br />worksheet adjusting the anticipated sources and uses for the <br />balance of the project. <br />January 12, 2000 <br />