Development Team Meeting Notes (96-99)

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Dave recommended that the de-watering process go through Centurywest. V~e will need to ~,,~ know what the water is doing. There will be some contaminated water on ' ite. Th r ~ e e are concerns with water table at highest point now. Bringing in someone will ad~l to the costs. Leonard will talk with Kathleen about bringing someone in from the outsid~ to handle this situation. Leonard will also provide design and de-watering numbers as soon'~ as possible for Pence Kelly. Curt will try to get in touch with someone who worked on tt~e Capitol Mall pazking structure and get a set of old plans. Possible space reduction? Randy brought out a concern to have the group brainstorm to get ideas on th~ possibility of cutting 20,000 square feet. Status from Dan on leasing out 80,000 square feet shdws we have no commitments right now on leased space and this will impact financing. The goup looked at current drawings and came up with some different options, The second floor has a bay area of 30 x 169 feet between grids D& E, and could generat~ about 10,000 square feet. One option is to not take the 20,000 square feet or a smaller portion, but build the shell and not budget for tenant improvements in the leased space azea could result in possible savings of $600,000. For the moment, Dan is still handling the leased space, and it needs ma~-keting. Even though vacancy rate downtown is low now, it may not be that way in two yea.~s. County is ~ cunently carrying the ti's for the 3ra floor. , Another choice is to fmd an investor who wants to own 20, 000 - 30,000 squar~ feet of lease space. This option would work great if this area would be on its own floor or sepa~ate area. Ra.ndy doesn't want to make any cuts yet, but if you see an opportunity where we can reduce square footage, let me know. There is a possibility of 10,000 sq. ft. on floors ~, 3, & 4 and 2,000 sq. ft. On the ground floor near the ramp. By reducing size of project co~ts per square foot in shell go up. It's best to leave where it is at, not reduce size to save dollars. ' Randy figures we currently have 178,000 gross square feet office space @$52 sqj. ft. The TI's are at 150,000 net sq. ft. @$30 sq. ft. (including retail space). Dan's budget ~vas providing TI's @$15 sq. ft. on retail space, with the leasee paying for any additional costs fdr TI's. Once Randy and RG have established a budget, it will be shared with the group to make Isure it makes sense to everyone. : Dave is looking for an update the on structural drawings. These should be availab~e either later today or tomorrow. ' The remainder of the meeting was spent going through questions and/or areas of co~cern that the general contractor had with the azchitect. ' Corridors - There aze no general zones of ingress/egress required for shell permit`~ No. We may know how 3rd floor will breakout, 2"d floor no design - county not required; 4"` floor open