Agenda - 02-07-2008-6 - Laserfiche WebLink

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Option A: Lease/Purchase Hillsborough Commons (HC) Estimated Total Estimated Total Cost Minimum Cost After Anticipated Reimbursements Lease amount through February 2012 $2,611,972 $1,305,986 HC Upfit: • County responsibility upfit costs limited sustainable design (materials, lighting, low flow fixtures, but no structural or parking lot) • Basis: 56,327square feet at $35.50 per square foot, with the Landlord picking up a total of $600,000 of upfit costs. Sustainable Design: • Additional upfit costs for sustainable design elements desired if HC is purchased. Includes structural changes of entranceways, installation of windows, changes in parking lot. Purchase Option of Entire Shopping Center: • Purchase price, if exercised by deadline of February 2012 • Assumes an April 1, 2008 commencement date of lease, with 3 months free rent during which no rent credit is assessed, thereby allowing $660,000 rent credit (44 months@ $15,000/mo) Upfit for Health Department at HC: • Estimated upfit costs for Health Department at Hillsborough Commons after February 2012. • Estimate is based on 30,000 square feet at $175/s.f., which is the need articulate by the Health Department for space in Central/Northern Orange. • Remaining 20,000 s.f. may be available for leasing to existing tenants or other non- profit or non-County agencies who may be able to pay rent. • Upfit of the additional 20,000 s.f. would be carried out when needed. $1,400,000 $700,000 $600,000 $600,000 $14,829,000 $11,121,750 $5,250,000 $5,250,000 Estimated cost to provide space for human $26,090,972 $20,377,736 services delivery in Central Orange County. (This supplants the need to expand the Whitted Building as indicated in the space study. Does not eliminate the need for additional space in Chapel Hill, although the proposed addition to the SHSC could be smaller than the study pro osed . A(_- CJ 1r11LaA4