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OLD COURTHOUSE RESTORATION GRANT General Services Director Sonny Dean reviewed a Memorandum of May 16, 1995: DATBY MAY 16, 1995 TO$ HONORABLE BOARD OF COUNTY COMMISSIONERS THRUS JAMES E. CHANDLER COUNTY ADMINISTRATOR FRONS H.T. "SONNY" DEAN, DIRECTO DEPARTMENT OF GENERAL SERVICES 8UB.7ECTt OLD COURTHOUSE RESTORATION GRANT On March 14, 1995 at their regular meeting, the Board awarded a contract to Donadio and Associates, Architects, to write a grant application for restoration of the old courthouse. Mr. Donadio had until May 31, 1995 to compile the applicable information and write the grant application. On May 10, 1995, staff met with Tony Donadio-and his grant writer, Ruth Stanbridge to review the approximated restoration costs as presented. Ms.' -Stanbridge had been in contact with Tallahassee to ascertain matching funds and how they related to the priority list for awarding the grant. She was informed that the amount of matching funds decided where the applicant was placed on the list. Ruth recommended that in order for us to be considered at the 1996 legislative session, we would need to pledge approximately 50% of the monies requested in hard dollars and/or "in-kind" matching funds. Mr. Donadio has recommended the restoration process be carried out in three Phases. Phase I being the Research and Architectural Planning at a cost of $34,500, which is what has already been done by his firm and paid for by the County. The second Phase would consist of the Exterior and Building Stabilization at an estimated cost of $950,785. The third Phase would be Interior Restoration and Detail at an estimated cost of $421,432. A'breakdown of the various costs is attached to this memorandum.If it is the decision to proceed as recommended by Ms. Stanbridge, a 50% match would equate to approximately.$686,000 cash dollars and "in-kind" services. According to Ms. Stanbridge, the monies expended on Phases I and II would be counted as matching funds for Phase III, thereby reducing Indian River County's cash contribution. ANALYB18s Upon completion of the restoration there will be approximately 10.,000 square feet of space available for leasing. The average cost for leased space in the downtown area is ten to twelve dollars per square.foot depending on the amenities offered with the lease agreement. Staff has estimated the annual maintenance cost including utilities for the entire facility to be approximately $123,500. These costs to the owner would vary based on how a lease agreement was structured. Tony Donadio and Ruth Stanbridge will be in attendance to explain the renovation process and grant procedures. They will be able to provide historical data on similar grants and their respective awards. in order to meet a deadline of May 31, 1995 for submittal of the application, staff requests Board direction as to what course of action to take from this point. 33 BOOK95 1,91 May 23, 1995'