ATTACHMENT 1

TO AGENDA ITEM #2A

 

MEMORANDUM

 

TO:                  Mayor and Town Council

 

FROM:            W. Calvin Horton, Town Manager

 

SUBJECT:       Transmittal of Draft Cost Estimate and Financial Analysis Report on Town Parking Lots 2 and 5 and Related Sites

 

DATE:             September 13, 2004

 

 

Attached is the draft Cost Estimate and Financial Analysis Report by consultant John Stainback, managing partner with Stainback Public-Private Real Estate. The Report examines the financial feasibility of development phasing options (see Tab #2) for Town Parking Lots 2 and 5, the Wallace parking deck and the RBC-Centura Bank.

 

The Report is for the Council Committee meeting at 4 p.m. in the First Floor Conference Room at Town Hall and the Town Council meeting at 7 p.m.