A NEW CIVIC CENTER VISION
Transcript of A NEW CIVIC CENTER VISION
New Civic Center Vision • Honors and Repurposes a Civic Icon
• Showcases Historic Preservation
• Revitalizes Adjacent Neighborhoods
• Provides a Financeable Strategy
• Catalyzes Redevelopment of Decommissioned VA Site
• Stabilizes Annual Operating Costs Below Current Levels
• Improves Efficiency & Quality of Workplace for Workforce
• Operational by Fall 2017
Why City Hall & CDC Need to Move • City Hall and CDC buildings are both over 50 years old and becoming functionally obsolete
• Maintenance on aging equipment, including originally installed elevators, HVAC systems,
generators, pump systems and incidentals are costing the City and Court:
– City Hall $350,000 (2012) CDC $250,000 (2012)
• Annualized Operating Expenses for City Hall and CDC are currently $240,000 per year in
janitorial expenses, plus an additional $630,000 in staff salaries for engineers/maintenance
workers, totaling $870,000 for both buildings
• Both buildings are facing a number of structural issues including aging plumbing and fixtures,
leaks and subsidence
• Both buildings are lacking modern, up-to-date Computer IT infrastructure including
inadequate wiring and electrical power to properly run and cool IT equipment, lack of space
for data centers and IT equipment, and poor wireless capabilities throughout buildings
• Both buildings are at maximum capacity with limited office space and storage available:
– City Hall 316,622 SF CDC 116,602 SF
Debunking the Myths about the
Charity Hospital Building • Charity’s structural integrity has been validated as
structurally sound.
• Charity’s basement will be filled with concrete and
pilings to reinforce foundation.
• Courtrooms will have 12’- 17’ high ceilings that are
fully open spaces with no obstruction from ceiling
beams or columns.
• Charity provides large floor layout possibilities.
Area Summary Total Project Sizing and Areas GSF Total GSF
City Hall Tenant Space (Existing Inefficient Footprint is 338,905 sf) 281,325
Civil District Courts Tenant Space (Includes Courtrooms) 284,695
City Council Tenant Space (Includes Chamber) (Existing Footprint is 35,640 sf) 34,320
Public Commons Tenant Space 23,650
Mothballed Future Tenant Space 0
Fourth Floor (Dedicated to Central, Mechanical, Electrical and Plumbing Services) 48,005
Decommissioned Basement (Used for Total Foundation Infrastructure Replacement) 109,785
Selective Demolition (Two Rear Flanking Wings on Gavier Street Side) 194,415
Original Gross Total Area (NIC Post-1939 Extraneous Additions) 976,195 GSF
Less Decommissioned Basement 109,785
Less Selective Demolition 194,415
Net total Area (NIC Post-1939 Extraneous Additions, Basement, Selective Demolition 671,995
Add New Atrium Court 10,240
Add New Elevator Shafts 31,740
New Gross Total Area 713,975 GSF
New Gross Total Area Less Common Areas 600,340 GSF
City Hall and City Council Percentage Share Breakdown 315,645 52.58%
CDC Percentage Share Breakdown 284,695 47.42%
NOTE: CDC is currently 116,602 SF
Project Development Costs Total Building Construction Costs and FF&E Allowance
Total Project Construction Cost (713,975 GSF at $265 PSF) $189,203,375
Total FF&E Allowance Cost (Total for City Hall, City Council, and Courts $20,000,000
Selective Demolition Allowance $5,000,000
AFC $214,203,375
Design & Engineering Fees per FP&C (8.86%) $16,680,128
Total Building and Furniture, Fixtures and Equipment Construction
Costs
$230,883,503
Site Infrastructure Improvement Costs
Utility Infrastructure Upgrades (Including Co-Gen linkage) $2,000,000
AFC $2,000,000
Design & Engineering Fees per FP&C (7.6997%) $893,165
Site Infrastructure Total Construction Cost $2,893,165
Total Costs
Building & Infrastructure Total Construction Cost $243,376,668
Construction Cost Contingency @7.5% $18,253,250
Gross Total for Construction Cost & Contingency $261,629,918
Developer/ Project Management Fees @ 4% $10,465,197
Overarching Project Contingency (on both construction cost and
mgmt. fees) @ 3%
$8,162,853
TOTAL PROJECT DEVELOPMENT COST $270,657,968
Sources & Uses of Funds
Sources of Funds Percentage Credit Basis for Credit
State Contribution* $100,000,000
Historic Tax Credits on Net Total
Area Improvements (State Only)
(NIC Post-1939 Additions,
Basement)*
25% $178,078,675 $33,389,752
New Markets Tax Credits * $18,000,000
FEMA Funds from Existing City
Hall FEMA Project Worksheets
$11,000,000
Estimated Contribution from CDC $0
Recovery Dollars $30,400,000
City-Issued Revenue Bonds $77,868,217
Total Sources of Funds $270,657,968
Total Project Development Cost $270,657,968
*Funds specifically attached to Charity Hospital building
Annual Civic Center Complex
Operating Costs Annualized Operating Expenses (Responsibility of City and CDC)
Civic Complex Operating Expenses 713,975 sf @ $8.00 psf $5,375,960
Reserve/Maintenance on 713,975 sf at $1.0 psf $713,975
Annualized Cost of Debt Service (Tax Exempt Bonds to
support $77,868,217 Bond Issue)
$5,979,176
Total Gross Annual Costs (for both City and Courts) $12,069,111
CITY OF NEW ORLEANS ANNUAL COSTS* 52.58% $6,805,717
CDC ANNUAL COSTS* 47.42% $6,138,394
*Share split based on prorated occupancy square footage.