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discussed the building commissioning process and the pros and cons of keeping it in the budget. <br />This item will be left out of the budget for now, but it's an optional service we could consider later. <br />~ Ra.ndy Franke cautioned that it is okay for planning purposes to sell revenue bonds up to $1.30/sf. <br />He does not want the $1.30/sf to be the floor of the costs, but the ceiling. He is also hoping it will <br />come in under this figure. <br />Project Management category lists both Melvin Mark and Pence/Kelly, which are known costs. <br />Under Contractor Bonding & Interest, a heading change to Bonding & Insurance was made and <br />county dollars need to pulled out from transit side. Dan Berrey costs are known. <br />Administration category Legal - county will stay at $100,000. The 140 fund - county $112,000 is <br />50% of Sheryl Derting and Billy Wasson salaries starting July 1, 1998 for 18 months, based on the <br />assumption that Sheryl and Billy will continue on this project through end of construction. On the <br />revenue side, we have included $112,000 from the 140 fund. Revenue bonds won't cover this, and <br />it will come from other sources. Ra.ndy C~utis has a proposal on how this could be done if a policy <br />decision is made that the 140 fund would cover this expense. He will meet with Billy Wasson and <br />Ken Roudybush sepazately on this issue. Other Administration fees include some chazges from <br />Centurywest and Legal that are being identified a.nd will be moved to other categories above. <br />Property Acquisition category is all known past history. Under the Demolition/Remediation <br />category, demolition is complete, and there are still some items we need to check with David <br />Hartwig regarding remediation. <br />Under the relocation category $210,000 was for moving back into the building. The county - out <br />figure includes costs of remodeling the office space, plus move in costs. The $210,000 move back <br />in figure only covers physical move in expenses. This was negotiated with the departments early <br />in the process. Tenant relocation expenses were for moving other tenants on the Senator block to <br />other locations. <br />The constructions costs aze a11 straight off the proforma. Streetscape will be carried in the county <br />side of the equation, since the funds were allocated by the city counsel for a county service center. <br />Removal of High Street terminal costs come straight from Pence/Kelly's costs. <br />Financing costs category still has the item of net capitalized interest that we are struggling to solve. <br />Ralph Grim will be consulted on this issue. Explanations "y & z" need a little more definition. <br />Melvin Mark was taking the same sheet and reconciling with their assumptions on the proforma. <br />Loan repayment from solid waste is self-explanatory. The interest was calculated by Elyn Lyon, <br />of General Services and someone from Solid Waste jointly. <br />Contingency was adjusted downward and the $1.4 million is the total contingency for the project, <br />but formulated between county and the transit. <br />~ Sheryl pointed out the "blue" numbers in the budget would denote any costs that would be attributed <br />to the total costs we would lose if the project is terminated. It was decided to remove the final <br />Page 5 of 6 <br />