TITLE: Title
203 Project with Projections
PURPOSE: The purpose of this item is to provide the Town Council with a report on cost projections related to parking leases and construction, and energy efficiency/carbon reduction strategies.
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DEPARTMENT: Planning, Finance, Economic and Community Development
CONTACT INFORMATION: Patricia McGuire 919-918-7327, pmcguire@townofcarrboro.org; Arche McAdoo 919-918-7439, amcadoo@townofcarrboro.org; Annette Stone 919-918-7319, astone@townofcarrboro.org
INFORMATION: On January 14th, the Town Council received an update on the project being planned for 203 S. Greensboro Street project, including the proposed uses and draft building program, estimated cost and schedule. The Council accepted the report and indicated the following:
* Continue with the plan as outlined
* Bring back the blackbox theater component for a discussion with Council for a decision
* Review the idea of additional stories for commercial space
* Review additional parking spaces in deck and report back
* Continue to seek replacement parking that has equal spaces available as the current surface parking lot (for downtown businesses)
* Work to not overwhelm existing residents with parking problems
The Council also approved a motion for staff to provide a projection of debt capacity and impact on savings over ten years with the project and leased parking costs accounted for. The Council also directed that staff provide information on how to include net -zero standards for carbon and energy in achieving LEED Gold equivalent in the project. Energy efficiency improvements currently included are anticipated to achieve 20- 25 percent below ASHRAE 90.1 2016. Staff will present information on other strategies at the meeting.
Current estimated costs of construction are as follows: Building core and shell-- $11,483,500 Parking structure-- $4,050,000 Building upfits -- $6,748,500 Total-- $22,282,000. An additional design service fee of $493,445 has been ide...
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