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use of internal resources would be in accordance with the policy principles. These financing options are described more fully in Attachment E. Option D - Full Consolidation City Hall plus Community Safety Building Option D provides for Police space needs through 2028 with a 107,000 square foot building, consisting of 87,000 square feet to support Police functions (excluding FEU/PCU, which would remain at the Roosevelt site) plus 20,000 square feet to accommodate partnerships with social service agencies and additional public meeting room space. No improvements to the Park Block or 8th Avenue as the City's Civic Street are included in Option D, other than the block-long segment of 8th Avenue fronting City Hall and the Community Safety Building. The estimated cost of the Community Safety Building in Option D is $37.8 million. City Hall would be reconstructed or replaced under Option D with a 207,000 square foot building on the current City Hall site. City offices, including Public Works downtown functions, Planning and Development Department, and the Finance and ISD Divisions, would be consolidated into City Hall, and overall space needs would be met through 2020. Approximately 20,000 square feet of additional expansion space is included and it is assumed that the space would be leased out to another government partner, such as LCOG, for 10-15 years until it is needed by the City. The space needs of other agencies, such as EWEB or School District 4j, could also be accommodated if those agencies contributed additional resources to expand the building. During Construction, the City offices currently located in City Hall would need to temporarily move into other space. Municipal Court may be able to move to current federal court facility vacated when the new Federal Courthouse opens, or it would need to find other leased space suitable for court functions. CMO and HRRS could potentially move into other City-owned space in the interim, or might need to move into private leased space during construction. While the concept of a new City Hall is very preliminary at this point, the estimated cost based on general assumptions could reach $72.3 million. Total project costs for both the Community Safety Building and City Hall are projected at $111.5 million. Finance Costs In addition to the construction and soft costs for the building and amenities, the project budget must also include finance costs. In Options A through C1, there is $150,000 of estimated finance costs for an interfund loan. This will be needed because these options rely on Facility Reserve funds in future years beyond the end of construction. Options B, C and D include bond issuance costs and financial tracking costs. When the City issues bonds, it incurs costs to pay the underwriter, bond counsel, financial advisor, paying agent and Moody's Investors Service, as well as to prepare and distribute the bond documents. The financial tracking costs in Options B through D are for a part-time person to keep track of the various projects and funding sources included in the larger, more complex undertaking. L:\CMO\2004 Council Agendas\M040714\S040714A. doc