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


Desired Elements

Knowledge & Discovery Center Office Space

Business & Technology Incubator Retail Space
Evening Entertainment Venue
Central Outdoor Plaza
Residential Space
Public Transit Hub
Public Improvements &
Digital Media Lab
Infrastructure
Parking Structure Hotel and/or Event Center


Program Analysis

Master Plan
Infrastructure Analysis
Parking Analysis
Real Estate Issues
Financing Analysis
Development Plan
Public Outreach

Next Step

Present Final Development Program for
Acceptance by Board of Supervisors


Answer Questions We Posed to the Citizen’s
Committee

What would our clients like to build?

What can be built?

What is feasible?


What Would Clients Like?

Desired Elements in Different Combinations
Base Option
Additional Elements when Feasible


What Can Be Built?

Site is Large Enough
No Substantial Physical or Environmental
Impediments


What is Feasible?

Summary
Scope
Development Budget/Timeline
Financing Plan
Closing the Gap


What is Feasible?

Feasible: Capable of being accomplished or
brought about; possible


Summary

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

Scope

Project Assumptions
› Parking Requirement: 2 spaces per 1,000 sf
› Retail Forecast: 7,500 to 10,000 sf
Master Plan
Parking Plan


Scope: Existing Site


Scope: Roads


Scope: Public Improvements


Scope: Master Plan


Scope: Parking



Assumptions
› Public Investment
› Private Investment


Financing Plan

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

Closing the Gap

Reduce the Amount to be Financed
› Cost of Improvements
› Increase the Amount of Cash Contribution
› Obtain Federal Grants
› Library Fundraising Program
Increase Annual Revenues


Nugget Project Presentation, Sept. 27, 2010

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