From: John Simko, Town Manager

CC: Board of Selectmen
Mark McCluskey, A.E. Hodsdon Engineers

Date: 5/27/04

Re: Border Trust Company Building

Cindy Hanscom from our office contacted Jay Violette, President & CEO of Border Trust Company, regarding the possible sale of their branch office in Greenville Junction. This branch is closing very soon, and some Greenville residents have suggested this building might be a good solution for our municipal building. Cindy requested price and general building information about this structure, which Jay has sent and which is attached.

This building, in short, is smaller than the space we currently occupy, and is much smaller than what we have decided would be optimal to house all of our functions. Our current space for the Town Office, Town Manager's Office, Code Enforcement Officer's Office, Meeting Hall, Police Station and related functions totals 2,090 sq. ft. we feel we need approximately 3,108 sq. ft. to adequately house all of the aforementioned departments and functions. The Border Trust Building has only 1,248 sq. ft. on its first floor, and another 720 sq. ft. in the basement (which houses a meeting room). This totals 1,968 sq. ft., not all of which is ADA compliant. Even counting the basement level, this building is ~1,140 sq. ft. less in size than we need.

The cost of making this space all ADA compliant, and adding 1,140 sq. ft. to the structure to make it equal in size to our proposed structure on 7 Minden Street, would cost an additional $ as outlined below:

Total budget for proposed 7 Minden Street Project:

Purchase price: $ 42,000
Construction (3,108 sq. ft. @ $112/ sq. ft.): $350,000
Furniture, fixtures, and contingency (estimated): $ 19,000
Demolition: $ 2,100
TOTAL COST: $413,100

Purchase Price: $250,000
Elevator: $ 60,000
New Construction (1,140 sq. ft. @ $112/sq. ft.): $127,680
Renovation (1,968 sq. ft. @ $35/sq. ft. – estimated): $ 68,880
TOTAL: $506,560

I do not recommend this option.