From the City of Tulsa website: (
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"Fact Sheet: Tulsa City Hall at One Technology Center
In 2008 the City of Tulsa consolidated employees and assets from five locations into a new City Hall. (Those included City Hall, 707 S. Houston, TFD Headquarters, Francis Campbell Council Room, Hartford Building)
Moving into City Hall at One Technology Center improved efficiencies reduced travel between remote sites and gave the City a new more energy-efficient home in the glass-curtained building at 175 E. 2nd Street.
Construction of the shell and core of the building cost $80 million. The price of the adjacent 1,000-space parking garage was $9 million. Furnishings, fixtures, mechanical systems and state-of-the-art technological features pushed the total cost of the building in 2001 to $224 million dollars.
Construction of One Technology Center was completed in 2001 by the Williams Companies. It was the new home of Williams Communications (Wil-Tel) and was a hub of high-tech, fiber-optic digital communications.
The City of Tulsa purchased the building, along with the garage and furnishings and fixtures and technological features, for $52.25 million, or about 23 percent of the building’s original cost. Taking inflation into account,price the City paid for One Technology Center is an even smaller percentage of the original cost.
In the new home, City offices occupy 30 percent less total space than before. And because OTC is one of the most energy-efficient buildings in the City, it is expected that there will be long-term savings in energy costs compared to lighting, heating and cooling the former City Hall and other buildings vacated by the move to the City’s new
home.
By vacating other buildings, the City also avoided millions of dollars in maintenance costs and capital expenditures required for those buildings currently and in the near future.
No additional taxes on citizens were required to purchase OTC. The purchase of the building was financed through the sale of $67 million in tax-exempt revenue bonds. That amount is greater than the purchase price because of moving and modification costs were included. Financial risks were minimized by creating a revenue stream from leasing of office space in the building not needed for City government functions.
The City utilizes about 38 percent of the building for its exclusive use. It also shares some spaces – conference facilities and more – with other tenants.
To protect Tulsa taxpayers from risk, the City negotiated a 10-year lease with Bank of Oklahoma, which guarantees $28.7 million in rent revenue over 10 years. The guarantee covers leases with Level 3 Communications and Deloitte-Touche, which continues to lease space. Additional space is still available and being marketed for lease by other clients." [end]
Being a former city council member in TX and a major municipal policy geek, Mama Blaster thinks the Tulsa One Technology Center purchase for its new City Hall is ABSOLUTELY BRILLIANT IN ALL RESPECTS!!