Note Book: R.C - Laserfiche WebLink

Home Browse Search

~ The Project will be located in downtown Salem, adjacent to the Marion County Courthouse. The full block Project incorporates a new bus transit center, public areas and an approximately 141,362 rentable square foot office building. The Project will also be developed w~ith 80 percent of the block in subsurface parking. An additional building pad with the general dimensions of 277 feet by 50 feet will be conscructed at the north end of the block. The site bounded by Chemeketa Street, Church Street, Court Street and High Street is owned jointly by the County and the District as part of a condominium agreement. Similarly, the completed Project will be owned jointly by the County and District (the "Owners"). The north end opportunity pad will likely be leased to a developer under a long-term agreement. A private developer will be selected to create, finance and operate a mixed-use component on the northern portion of the property. This component will not be financed with the proceeds of the 1998 Certificates. The new bus mall will run (east/west) the full length of the block. This area is intended to create an inviting and comfortable environment for bus riders while at the same time enhancing the efficiency and safety of the operation. The mall will have covered pullouts for each of the buses and will have covered walkways interconnecting the mall, sidewalks and the ground floor public use areas. The five-story office building will be located at the south end of the block. Approximately 90 percent of the office space will be occupied upon completion. Tenants will include the County, which will occupy approximately 99,036 rentable square feet ("rsf') of office space and the District, which will occupy approximately 24,206 rsf of office/customer service/operations/retail space. Additionally, the owners will share an approximately 5,295 rsf conference center. It is anticipated that the building will also have approximately 13,633 rsf of speculative space that will eventually accommodate the County's long-term expansion needs. The Project will have a subsurface parking level that runs approximately 93,272 gsf under the office building and transit mall. The parking level will contain 258 stalls which will be shared by owners and future tenants. The bus mail, sidewalks and other public areas around the Project will have upgraded finishes in the form of pavers, covered walks, benches and planters. The office building will be constructed on an elevated slab. Construction will be of post tensioned concrete with a red brick exterior. Punched windows will run along the length of each building face with some feature bay windows at the front and side entrances. The Project currently reflects a two-story lobby space, which will provide separate access to the public (transit) and private (office) components of the development. The Project was designed by Arbuckle, Costic Architects Inc., Salem, Oregon. The Owners have retained Melvin Mark Companies, Portland, Oregon, as development consultant through plan development and as construction manager during the construction phase of the Project. The following table shows the sources of funding for the Project: Development Agreement The County and the District have entered into an Intergovernmental Development Agreement (the "Development Agreement") dated as of October 28, 1998, pursuant to which they will construct the Project. The Site upon which the Project is to be located is owned by the County and the District as tenants in common, with the County owning a 68.71 % undivided interest and the District owing a 31.29% undivided interest. The Development Agreement provides that the parties will construct the Project, each paying its respective share. T'he County share is approximately $24,100,000 and the District share is approximately $9,860,000 for the land, construction costs, and all other Project costs. Either party may terminate the agreement if either party cannot, before February 1, 1999, obtain financing or if the lowest responsive public bid for construction exceeds the ~ respective share of either party. The District has already obtained a Federal Transportation Administration grant for its share of the Project. If one party terminates the agreement, the other party may elect to partition the real property, 18