Nugget Project Presentation, Sept. 27, 2010

Carson City Center

Citizen’s Advisory Committee

Copyright P3 Development Inc 2010

Overview of P3’s Tasks Under the DCA

Desired Elements

Program Analysis

Present Final Development Program for

Acceptance by Board of Supervisors


Knowledge & Discovery Center

Business & Technology Incubator

Central Outdoor Plaza

Public Transit Hub

Digital Media Lab

Parking Structure

Desired Elements

Office Space

Retail Space

Evening Entertainment Venue

Residential Space

Public Improvements &

Infrastructure

Hotel and/or Event Center


Master Plan

Infrastructure Analysis

Parking Analysis

Real Estate Issues

Financing Analysis

Development Plan

Public Outreach

Program Analysis


Present Final Development Program for

Acceptance by Board of Supervisors

Next Step


Answer Questions We Posed to the Citizen’s

Committee

What would our clients like to build?

What can be built?

What is feasible?


Desired Elements in Different Combinations

Base Option

Additional Elements when Feasible

What Would Clients Like?


Site is Large Enough

No Substantial Physical or Environmental

Impediments

What Can Be Built?


What is Feasible?

Summary

Scope

Development Budget/Timeline

Financing Plan

Closing the Gap


Feasible: Capable of being accomplished or

brought about; possible

What is Feasible?


The project is feasible

Public-Private Partnership

The financing structure will not impact the City’s debt limit

The financing can be tax exempt

The City will not issue bonds

Long term lease subject to annual appropriation

Commence Summer 2011

First lease payment 2015

Summary


Project Assumptions

› Parking Requirement: 2 spaces per 1,000 sf

› Retail Forecast: 7,500 to 10,000 sf

Master Plan

Parking Plan

Scope


Scope: Existing Site


Scope: Roads


Scope: Public Improvements


Scope: Master Plan


Scope: Parking


Assumptions

› Public Investment

› Private Investment



Assumptions

› No Impact on City’s Debt Limit

› Lease/Lease Purchase

› Taxable or Tax Exempt

› Down Payment

Financing Plan


Financing Structure: Lease Based Financing

Viable & Flexible Method› Tax Exempt or Taxable Borrowing Rates

› Amount Financed is the Guaranteed Maximum Price

Numerous Structural Options Available

Lease/Leaseback Basic Outline› Developer/Project Leases Land from Hop & Mae Adams Foundation

› Development Team Builds Project for Guaranteed Maximum Price

› Project is Leased to City

› City Makes Lease Payments

› City Acquires Project at end of Lease Term

Financing Plan


Financing Plan

Reduce the Amount to be Financed› Cost of Improvements

› Increase the Amount of Cash Contribution

› Obtain Federal Grants

› Library Fundraising Program

Increase Annual Revenues

Closing the Gap


Nugget Project Presentation, Sept. 27, 2010

Documents

Transcript of Nugget Project Presentation, Sept. 27, 2010