PDA Packet for Special Council Retreat/Workshop Date ......PDA Council Retreat/Workshop Agenda July 19th, 2012 12:30pm to 6:00pm Economy Atrium Conference Room 12:30pm Welcome/Approval

PDA Packet for Special Council Retreat/Workshop Date: Thursday July 19th, 2012 Time: 12:30 p.m. – 6:00 p.m. Location: Atrium Conference Room The Following Materials are included in the Packet:

A. Meeting Agenda

B. Financial Pro-Forma’s including:

1. Base “average” model 2. Minimal parking revenue model (if we only get 250 parking spaces) 3. Minimal commercial rent model (assumes 70% decrease in performance) 4. Minimal residential rent model (assumes lowest end for rent if we secure

LITEC (Low Income Tax Credits) which would result in $500/per unit rents) 5. Combined “worst case scenario” model combining all minimal assumptions 6. Back up for assumptions and comps including current market income from

retail/restaurant by location type and construction estimates and confirmation memo from our estimator.

C. Project Timeline

D. Matrix comparing all current design concept options for PC1 N

E. Miller Hull Design Issues/floor plate presentation

PDA Council Retreat/Workshop Agenda July 19th, 2012 12:30pm to 6:00pm Economy Atrium Conference Room

12:30pm Welcome/Approval of Agenda - James Savitt

12:40pm Draft Financial Model - Ben Franz-Knight & Joe Paar A. Rough Draft Pro-Forma Analysis - Review of Assumptions and Calculations

2:00pm Project Timeline - Ben Franz-Knight, Joe Paar & Peter Steinbrueck 2:45pm MOU/Heritage House (Closed Session Per (RCW 42.30.110(1)(b))

A. PC1N MOU with City of Seattle B. Heritage House

3:30pm Break 3:45pm Design Issues - Miller Hull & Peter Steinbrueck

A. Review and Discussion of Design Issues and Studies 5:00pm Design Option Refinement - James Savitt

A. Discussion of Design Option and/or Options to be further refined

6:00pm Adjournment

DRAFTNet Operating Income Model @ 250 Parking Stalls

`

Do Nothing Option BB - Option BB + Option A Option B Option C Option D

Low Income House SF Gross 12,077 23,783 25,153 21,014 27,069 19,772

Low Income SF Net (80% Efficiency) 80% 9,662 19,026 20,122 16,811 21,655 15,818

Number of Units at 375 SF Per Unit 375 26 51 54 45 58 42

Monthly Rent Per Unit (Studio 55%) 847$ 847$ 847$ 847$ 847$ 847$ 847$

Gross Monthly Rent 21,822$ 42,974$ 45,450$ 37,971$ 48,912$ 35,727$

Gross Annual Rent 12 261,868$ 515,692$ 545,398$ 455,651$ 586,943$ 428,720$

Vacancies at 7% -7% (18,331)$ (36,098)$ (38,178)$ (31,896)$ (41,086)$ (30,010)$

Net Annual Rent 243,537$ 479,593$ 507,220$ 423,755$ 545,857$ 398,710$

Expenses at $350 per unit per month (350)$ (9,017)$ (17,758)$ (18,781)$ (15,690)$ (20,212)$ (14,763)$

Expenses per year 12$ (108,210)$ (213,096)$ (225,371)$ (188,285)$ (242,538)$ (177,157)$

Net Operating Income 135,327$ 266,497$ 281,849$ 235,470$ 303,318$ 221,553$

Retail SF Gross 6,144 6,144 9,914 16,395 22,232 16,263

Retail SF Net (85% Efficiency) 85% 5,222 5,222 8,427 13,936 18,897 13,824

Base Annual Rent Per SF 20.00$ 104,448$ 104,448$ 168,538$ 278,715$ 377,944$ 276,471$

Vacancies at 7% -7% (7,311)$ (7,311)$ (11,798)$ (19,510)$ (26,456)$ (19,353)$

Expenses at $9 Per SF Per Year (9.0)$ (47,002)$ (47,002)$ (75,842)$ (125,422)$ (170,075)$ (124,412)$

Extra Rent Payment for Expenses 9.0$ 47,002$ 47,002$ 75,842$ 125,422$ 170,075$ 124,412$


Restaurant SF Gross 13,169 13,169 11,099 8,804 9,712 7345

Rest SF Net (90 % Efficiency) 90% 11,852 11,852 9,989 7,924 8,741

Base Annual Rent Per SF 40.00$ 474,084$ 474,084$ 399,564$ 316,944$ 349,632$

Vacancies at 7% -7% (33,186)$ (33,186)$ (27,969)$ (22,186)$ (24,474)$

Expenses at $10 Per SF Per Year (10.00)$ (118,521)$ (118,521)$ (99,891)$ (79,236)$ (87,408)$

Extra Rent Payment for Expenses 10.00$ 118,521$ 118,521$ 99,891$ 79,236$ 87,408$

Net Operating Income 440,898$ 440,898$ 371,595$ 294,758$ 325,158$

Light Manufacturing SF Gross 3,860 3,860 7,030 0 0 0

Light Manufact. SF Net (85 % Efficiency) 85% 3,281 3,281.00 5,976

Base Annual Rent Per SF 12.00$ 39,372$ 39,372$ 71,706

Vacancies at 7% -7% (2,756)$ (2,756.04)$ (5,019)

Expenses at $7 Per SF Per Year (7.00)$ (22,967)$ (22,967)$ (41,829)$

Extra Rent Payment for Expenses 7.00$ 22,967$ 22,967$ 41,829$

Net Operating Income 36,616$ 36,616$ 66,687$

Parking Stalls 250 250 250 250 250 250

Annual Revenue ($3,000 per stall) 3,000$ (360,000)$ 750,000$ 750,000$ 750,000$ 750,000$ 750,000$ 750,000$

Expenses at 20% -20% 108,000$ (150,000)$ (150,000)$ (150,000)$ (150,000)$ (150,000)$ (150,000)$

Net Operating Income (252,000)$ 600,000$ 600,000$ 600,000$ 600,000$ 600,000$ 600,000$

Total Net Operating Income (252,000)$ 1,309,978$ 1,441,148$ 1,476,870$ 1,389,433$ 1,579,964$ 1,078,671$

Total Expenses Per Year (446,700)$ (551,585)$ (592,932)$ (542,943)$ (650,021)$ (451,569)$

DRAFTUses of Funds @ 250 Parking Stalls


Construction Costs

Pre-Construction Services 1 300,000$ 300,000$ 300,000$ 300,000$ 300,000$ 300,000$

Build Foundations Around Train Tunnel 1 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$

Shoring Wall @ Western & Excavation 1 2,750,000$ 2,750,000$ 2,750,000$ 2,750,000$ 2,750,000$ 2,750,000$

Fluid Coolers / Build Around / New 2 1,000,000$ 1,000,000$ 1,000,000$ 1,000,000$ 1,000,000$ 1,000,000$

Parking 35,000$ 12,250,000$ 12,250,000$ 12,250,000$ 12,250,000$ 12,250,000$ 12,250,000$

Storage / Loading Dock 1 1,500,000$ 1,500,000$ 1,500,000$ 1,500,000$ 1,500,000$ 1,500,000$

Rework Food Bank Access / Relocate Food Bank 1 500,000$ 500,000$ 500,000$ 500,000$ 500,000$ 500,000$

Retail / Rest / Light Manufacturing 200$ 4,634,600$ 4,634,600$ 5,608,600$ 5,039,800$ 6,388,800$ 4,721,600$

Residential 275$ 3,321,175$ 6,540,325$ 6,917,075$ 5,778,850$ 7,443,975$ 5,437,300$

Public Open Space 100$ 3,500,000$ 3,500,000$ 3,500,000$ 3,500,000$ 3,500,000$ 3,500,000$

WSST 9.5% 3,111,799$ 3,417,618$ 3,545,939$ 3,383,772$ 3,670,114$ 3,321,096$

Design and Construction Contingency 15% 5,380,136$ 5,908,881$ 6,130,742$ 5,850,363$ 6,345,433$ 5,741,999$

Construction Escalation 10% 4,124,771$ 4,530,142$ 4,700,236$ 4,485,279$ 4,864,832$ 4,402,199$

Total Construction Costs 45,372,481$ 49,831,567$ 51,702,592$ 49,338,064$ 53,513,154$ 48,424,194$

Design Costs

Programming & Schematic Design 1 175,000$ 500,000$ 500,000$ 500,000$ 500,000$ 500,000$ 500,000$

Architecture Design Documents, Permit Documents, and Construction Documents8% 3,629,798$ 3,986,525$ 4,136,207$ 3,947,045$ 4,281,052$ 3,873,936$

Contract Administration 2% 907,450$ 996,631$ 1,034,052$ 986,761$ 1,070,263$ 968,484$

Miscellaneous & Other Design Costs 1 200,000$ 200,000$ 200,000$ 200,000$ 200,000$ 200,000$

Survey 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$

Soils Report 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$

Phase I & II Haz Mat Surveys 1 25,000$ 25,000$ 25,000$ 25,000$ 25,000$ 25,000$

Total Design Costs 175,000$ 5,362,248$ 5,808,157$ 5,995,259$ 5,758,806$ 6,176,315$ 5,667,419$

Other Soft Costs

Permits 1.5% 680,587$ 747,474$ 775,539$ 740,071$ 802,697$ 726,363$

Utility Fees other than SCL 1 300,000$ 300,000$ 300,000$ 300,000$ 300,000$ 300,000$

Seattle City Light Fees 1 450,000$ 450,000$ 450,000$ 450,000$ 450,000$ 450,000$

Builders Risk Insurance 0.25% 113,431$ 124,579$ 129,256$ 123,345$ 133,783$ 121,060$

Public Communication & Outreach 1 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$

GeoTechnical Inspections 1 200,000$ 200,000$ 200,000$ 200,000$ 200,000$ 200,000$

Special Inspections 1 200,000$ 200,000$ 200,000$ 200,000$ 200,000$ 200,000$

Commissioning 1 200,000$ 200,000$ 200,000$ 200,000$ 200,000$ 200,000$

Public Art 1 250,000$ 250,000$ 250,000$ 250,000$ 250,000$ 250,000$

LEED Certification & Consultant 1 150,000$ 150,000$ 150,000$ 150,000$ 150,000$ 150,000$

PDA Project Management 1 850,000$ 850,000$ 850,000$ 850,000$ 850,000$ 850,000$

Consultant Project Management 1 350,000$ 350,000$ 350,000$ 350,000$ 350,000$ 350,000$

Legal 1 500,000$ 500,000$ 500,000$ 500,000$ 500,000$ 500,000$

Financing During Development 10% 5,073,473$ 5,563,972$ 5,769,785$ 5,509,687$ 5,968,947$ 5,409,161$

Total Other Soft Costs 9,417,491$ 9,986,025$ 10,224,580$ 9,923,103$ 10,455,427$ 9,806,585$

Total Use of Funds 175,000$ 60,152,220$ 65,625,748$ 67,922,432$ 65,019,973$ 70,144,897$ 63,898,199$

DRAFTSources of Funds @ 250 Parking Stalls


Bond Financing 9,152,220$ 10,625,748$ 12,922,432$ 10,019,973$ 15,144,897$ 8,898,199$

Philanthropy, Grants, Tax Credits 8,000,000$ 12,000,000$ 12,000,000$ 12,000,000$ 12,000,000$ 12,000,000$

Equity 175,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$

Other Contributions 40,000,000$ 40,000,000$ 40,000,000$ 40,000,000$ 40,000,000$ 40,000,000$

Total Sources of Funds 175,000$ 60,152,220$ 65,625,748$ 67,922,432$ 65,019,973$ 70,144,897$ 63,898,199$

Annual Bond Payments at 4% Interest 30 Yr 4.0% (524,329)$ (608,747)$ (740,324)$ (574,043)$ (867,649)$ (509,776)$

Annual Bond Payments at 4.5% Interest 30 Yr 4.5% (556,475)$ (646,069)$ (785,713)$ (609,237)$ (920,844)$ (541,030)$


Annual Bond Payments at 5.5% Interest 30 Yr 5.5% (623,584)$ (723,982)$ (880,466)$ (682,708)$ (1,031,893)$ (606,276)$

Net Operating Income 1,309,978$ 1,441,148$ 1,476,870$ 1,389,433$ 1,579,964$ 1,078,671$

Debit Coverage @ 5.5% Rate 2.10 1.99 1.68 2.04 1.53 1.78

DRAFTNet Operating Income Model @ 70% Rents

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Monthly Rent Per Unit (Studio 55%) 847$ 847$ 847$ 847$ 847$ 847$ 847$



Vacancies at 7% -7% (18,331)$ (36,098)$ (38,178)$ (31,896)$ (41,086)$ (30,010)$

Net Annual Rent 243,537$ 479,593$ 507,220$ 423,755$ 545,857$ 398,710$




Retail SF Gross 6,144 6,144 9,914 16,395 22,232 16,263



Vacancies at 7% -7% (5,118)$ (5,118)$ (8,258)$ (13,657)$ (18,519)$ (13,547)$







Vacancies at 7% -7% (23,230)$ (23,230)$ (19,579)$ (15,530)$ (17,132)$







Vacancies at 7% -7% (1,929)$ (1,929.23)$ (3,514)




Parking Stalls 300 300 300 300 300 300


Expenses at 20% -20% 108,000$ (180,000)$ (180,000)$ (180,000)$ (180,000)$ (180,000)$ (180,000)$




DRAFTUses of Funds @ 70% Rents


Construction Costs





Parking 35,000$ 14,000,000$ 14,000,000$ 14,000,000$ 14,000,000$ 14,000,000$ 14,000,000$




Residential 275$ 3,321,175$ 6,540,325$ 6,917,075$ 5,778,850$ 7,443,975$ 5,437,300$


WSST 9.5% 3,278,049$ 3,583,868$ 3,712,189$ 3,550,022$ 3,836,364$ 3,487,346$




Design Costs



Contract Administration 2% 955,931$ 1,045,112$ 1,082,533$ 1,035,242$ 1,118,744$ 1,016,965$


Survey 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$

Soils Report 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$



Other Soft Costs

Permits 1.5% 716,948$ 783,834$ 811,900$ 776,432$ 839,058$ 762,724$







Commissioning 1 200,000$ 200,000$ 200,000$ 200,000$ 200,000$ 200,000$

Public Art 1 250,000$ 250,000$ 250,000$ 250,000$ 250,000$ 250,000$




Legal 1 500,000$ 500,000$ 500,000$ 500,000$ 500,000$ 500,000$




DRAFTSources of Funds @ 70% Rents


Bond Financing 12,127,749$ 13,601,277$ 15,897,961$ 12,995,502$ 18,120,426$ 11,873,728$


Equity 175,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$



Annual Bond Payments at 4% Interest 30 Yr 4.0% (694,797)$ (779,215)$ (910,792)$ (744,510)$ (1,038,116)$ (680,244)$


Annual Bond Payments at 5% Interest 30 Yr 5.0% (781,253)$ (876,175)$ (1,024,124)$ (837,152)$ (1,167,292)$ (764,889)$

Annual Bond Payments at 5.5% Interest 30 Yr 5.5% (826,320)$ (926,719)$ (1,083,202)$ (885,444)$ (1,234,629)$ (809,013)$



DRAFTNet Operating Income Model @ $500 per Month per Housing Unit

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Monthly Rent Per Unit - Studio 500$ 500$ 500$ 500$ 500$ 500$ 500$



Vacancies at 7% -7% (10,821)$ (21,310)$ (22,537)$ (18,829)$ (24,254)$ (17,716)$

Net Annual Rent 143,765$ 283,113$ 299,421$ 250,151$ 322,229$ 235,366$




Retail SF Gross 6,144 6,144 9,914 16,395 22,232 16,263



Vacancies at 7% -7% (7,311)$ (7,311)$ (11,798)$ (19,510)$ (26,456)$ (19,353)$







Vacancies at 7% -7% (33,186)$ (33,186)$ (27,969)$ (22,186)$ (24,474)$







Vacancies at 7% -7% (2,756)$ (2,756.04)$ (5,019)




Parking Stalls 300 300 300 300 300 300


Expenses at 20% -20% 108,000$ (180,000)$ (180,000)$ (180,000)$ (180,000)$ (180,000)$ (180,000)$




DRAFTUses of Funds @ $500 per Month per Housing Unit


Construction Costs





Parking 35,000$ 14,000,000$ 14,000,000$ 14,000,000$ 14,000,000$ 14,000,000$ 14,000,000$




Residential 275$ 3,321,175$ 6,540,325$ 6,917,075$ 5,778,850$ 7,443,975$ 5,437,300$


WSST 9.5% 3,278,049$ 3,583,868$ 3,712,189$ 3,550,022$ 3,836,364$ 3,487,346$




Design Costs



Contract Administration 2% 955,931$ 1,045,112$ 1,082,533$ 1,035,242$ 1,118,744$ 1,016,965$


Survey 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$

Soils Report 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$



Other Soft Costs

Permits 1.5% 716,948$ 783,834$ 811,900$ 776,432$ 839,058$ 762,724$







Commissioning 1 200,000$ 200,000$ 200,000$ 200,000$ 200,000$ 200,000$

Public Art 1 250,000$ 250,000$ 250,000$ 250,000$ 250,000$ 250,000$




Legal 1 500,000$ 500,000$ 500,000$ 500,000$ 500,000$ 500,000$




DRAFTSources of Funds @ $500 per Month per Housing Unit


Bond Financing 12,127,749$ 13,601,277$ 15,897,961$ 12,995,502$ 18,120,426$ 11,873,728$


Equity 175,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$



Annual Bond Payments at 4% Interest 30 Yr 4.0% (694,797)$ (779,215)$ (910,792)$ (744,510)$ (1,038,116)$ (680,244)$


Annual Bond Payments at 5% Interest 30 Yr 5.0% (781,253)$ (876,175)$ (1,024,124)$ (837,152)$ (1,167,292)$ (764,889)$

Annual Bond Payments at 5.5% Interest 30 Yr 5.5% (826,320)$ (926,719)$ (1,083,202)$ (885,444)$ (1,234,629)$ (809,013)$



DRAFTNet Operating Income Model @ 250 Parking Stalls, 70% rents & $500 per Month per Housing Unit

`





Monthly Rent Per Unit - Studio 500$ 500$ 500$ 500$ 500$ 500$ 500$



Vacancies at 7% -7% (10,821)$ (21,310)$ (22,537)$ (18,829)$ (24,254)$ (17,716)$

Net Annual Rent 143,765$ 283,113$ 299,421$ 250,151$ 322,229$ 235,366$




Retail SF Gross 6,144 6,144 9,914 16,395 22,232 16,263



Vacancies at 7% -7% (5,118)$ (5,118)$ (8,258)$ (13,657)$ (18,519)$ (13,547)$







Vacancies at 7% -7% (23,230)$ (23,230)$ (19,579)$ (15,530)$ (17,132)$







Vacancies at 7% -7% (1,929)$ (1,929.23)$ (3,514)




Parking Stalls 250 250 250 250 250 250


Expenses at 20% -20% 108,000$ (150,000)$ (150,000)$ (150,000)$ (150,000)$ (150,000)$ (150,000)$


Total Net Operating Income (252,000)$ 1,037,810$ 1,072,273$ 1,090,565$ 1,049,639$ 1,153,343$ 838,191$


DRAFTUses of Funds @ 250 Parking Stalls, 70% rents & $500 per Month per Housing Unit


Construction Costs





Parking 35,000$ 12,250,000$ 12,250,000$ 12,250,000$ 12,250,000$ 12,250,000$ 12,250,000$




Residential 275$ 3,321,175$ 6,540,325$ 6,917,075$ 5,778,850$ 7,443,975$ 5,437,300$


WSST 9.5% 3,111,799$ 3,417,618$ 3,545,939$ 3,383,772$ 3,670,114$ 3,321,096$




Design Costs



Contract Administration 2% 907,450$ 996,631$ 1,034,052$ 986,761$ 1,070,263$ 968,484$


Survey 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$

Soils Report 1 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$



Other Soft Costs

Permits 1.5% 680,587$ 747,474$ 775,539$ 740,071$ 802,697$ 726,363$







Commissioning 1 200,000$ 200,000$ 200,000$ 200,000$ 200,000$ 200,000$

Public Art 1 250,000$ 250,000$ 250,000$ 250,000$ 250,000$ 250,000$




Legal 1 500,000$ 500,000$ 500,000$ 500,000$ 500,000$ 500,000$




DRAFTSources of Funds @ 250 Parking Stalls, 70% rents & $500 per Month per Housing Unit


Bond Financing 9,152,220$ 10,625,748$ 12,922,432$ 10,019,973$ 15,144,897$ 8,898,199$


Equity 175,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$ 3,000,000$




Annual Bond Payments at 4.5% Interest 30 Yr 4.5% (556,475)$ (646,069)$ (785,713)$ (609,237)$ (920,844)$ (541,030)$



Net Operating Income 1,037,810$ 1,072,273$ 1,090,565$ 1,049,639$ 1,153,343$ 838,191$


ID Task Name Duration Start Finish Predecessors

1 MH - develop Concept Options 2.15 mons Fri 6/1/12 Tue 7/31/12

2 PDA - approval of massing option 1 day? Tue 7/31/12 Tue 7/31/12

3 MH - complete Concept Design 23 days? Wed 8/1/12 Fri 8/31/12 2

4 PDA - approval of draft proforma + MOU terms 1 day? Fri 8/31/12 Fri 8/31/12

5 PDA - negotiate MOU w/ city 2 wks Mon 9/3/12 Fri 9/14/12 4

6 City Council approves MOU 1 day? Mon 9/17/12 Mon 9/17/12 5

7 PDA - finalize design contract w/ MH 10 days? Mon 9/17/12 Fri 9/28/12

8 PDA - review/approval next phase 1 day? Fri 9/28/12 Fri 9/28/12

9 PDA - extend design team contract 1 day? Fri 9/28/12 Fri 9/28/12

10 State RFP for parking mitigation funds 1 day? Mon 10/1/12 Mon 10/1/12 9

11 Schematic Design 4 mons Mon 10/1/12 Fri 1/18/13

12 Design Development 4 mons Fri 2/1/13 Thu 5/23/13 11

13 Contract Documents 6 mons Mon 6/3/13 Fri 11/15/13 12

14 Permit Review 4 mons Tue 10/1/13 Mon 1/20/14

15 Construction 18 mons Mon 6/2/14 Fri 10/16/15 14

16 Tunnel Opens 1 day? Fri 1/1/16 Fri 1/1/16

17 Demolition of Viaduct 152 days Fri 1/1/16 Mon 8/1/16

18 Const of Western/Elliott Connector 12 mons Mon 8/1/16 Fri 6/30/17

19 Const of Waterfront Connector 18 mons Mon 7/3/17 Fri 11/16/18

20 GC Selection Process 0.65 mons Mon 10/15/12 Wed 10/31/12

21 contract w/ State for Design 1 day? Fri 2/1/13 Fri 2/1/13

1/15 4/1 6/17 9/2 11/18 2/3 4/21 7/7 9/22 12/8 2/23 5/11 7/27 10/1212/28 3/15 5/31 8/16 11/1 1/17 4/3 6/19 9/4 11/20 2/5 4/23 7/9 9/24 12/10 2/25 5/13 7/29 10/1412/30 3anuary 1 June 11 November May 1 October 11 March 21 September February 1 July 21 January 1 June 11 November May 1 October 11 March 21 September Feb

Task

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Milestone

Summary

Project Summary

External Tasks

External Milestone

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Project: PPM Project ScheduleDate: Wed 7/18/12

PC1 N Concept Design Options Comparison

VALUES: Strong - 3 Moderate - 2 Weak - 1

CRITERIA A B BB BB+ C DReturn on Investment

(Net Operating Income) 3 3 2 3 3 1Enhance Public Views

(Non-Propriety Public Areas

West)1 2 3 3 2 2

Maintain Existing Public Views 2 1 3 3 1 1Max Commercial/Retail

Restaurant(GSF) 2 1 2 2 3 3

Max Residential (GSF) 3 2 1 3 3 2

Max Light Manufacture (GSF) 3 1 2 2 1 1*Parking Replacement

(# of Parking Spaces)

Respect Market Character: Scale,

Granularity, Porosity, Massing 2 1 2 3 1 2

PC1 N Concept Design Options Comparison

VALUES: Strong - 3 Moderate - 2 Weak - 1

Enhance Market Arcade:

Flow, Circulation, Experience 1 1 2 3 1 1Respect Steinbrueck Park: Views,

Character, Sacred Place 2 1 3 3 1 1*Social Service Benefit:

Location: Food Bank + Services

Western Avenue:

Pedestrian Experience, Flow,

Retail Activation2 2 3 3 2 2

Market Identity - West:

Gateway Experience, Sense of

Arrival1 1 2 2 1 1

Civic Public Space:

Quality, Size, Access, Character 1 2 2 3 2 1

TOTALS 23 18 27 33 21 18

* Parking Replacement &

Social Services Benefit: All

Options the Same