Development Team Meeting Notes (96-99)

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RG asked if Curt could pull out the numbers attributed to the bus mall? Pence/Kelly will calculate for Transit to determine areas to cut if Transit is over-budget on project. They will also ~ include narratives for making the decisions and/or assumptions. Parking Structure Issue Discussions were held on the parking structure design. Early on in the design process we were at stall count of 423 with an$11,200 per stall cost. Can we get there once again with a good efficiency rating? By adding one more bay and moving west wall we can get an additiona125 spaces per floor and get the count to 425 spaces. The efficiency rating is not qui~e there. How do we resolve our parking issue of fewer spaces at higher costs? The olc~ design doesn't fit anymore. Design works better now. Could look at ratio of compact vs. standard size vehicles and make an adjustment with an additiona,l row of compact cars raising ratio from 18% to 30% compacts. The previous change from a 40' grid to 30' grid for costs savings, changed the parking grid from the original design on the pa.rking structure. That is why we can't get ba~k to that lower efficiency rating. Melvin Mark Companies requested copies of the azchitect's different scenarios for the parking structure to avoid duplicating any previous efforts. With the genexal contractor's deadline for bid package to go out approaching it is e~rtremely critical to get the parking structure stall count/efficiency rating/costs in line. Discussion was held on what kind of pazking ratios were needed. City of Salem Class A parking is at 0- 1.5. From a pre-leasing situation for retail space (60,000 squaze feet), 3 or 4 per thousand adds to the total leasing package we have to offer to potential tenants. Keepir~g the pa.rking structure at 377 stalls, County owns another parking structure across the street and could add additional stalls to the pot to increase the number of stalls, if that is what we need. Another would be to add the extra 48 stalls and then possibly lease out with meters. Our dollar r~turn would be much greater than a straight monthly lease. We still need to keep in mind the bid date and DD drawings to Pence/Kelly by July 15~', with August 15"' as due date for GMP. Leonard recalculated a 371.6 efficiency rating on pa,rking structure with 425 spaces. It was determined that what would be best would be to build the most efficient parking structure, while keeping costs down and bring the efficiency rating up. The main question now is balancing how many spaces to build in the structure? Melvin Mark Companies approach is if there is mazginal cost for an additional 48 spaces and marginal revenue to pay for it, then it would make sense to do it. If it won't pay for itself, then do we need the eztra spaces to make the retaW office space marketable? The concept of the bus mall in the building should encourage e~ra use of transit and could lower the requirement of pazking space. Transit does not intend to increase bus routes at this time, however. Leonard and Dave will work on the marginal costs of the parking s~~tructure. If it is a breakeven venture, then it should be built. Addition of 48 spaces will add costs ta total project. The goal is to get the cost per stall down. Let's take another 24 hours to take a lopk at the final numbers. Leonard will leave in residual space to store equipment such as street sweepers, mechanical space, etc.) and will create a more functional structure for us now. Discussion of pazking analysis for the Salem area included the following: Courthouse Square monthly rental rate would be $50; storage space and parking for office tenants in Courthouse Square Page 5 of 6