Local leaders have approved the final, non-binding concept plans for the proposed county consolidated office building in Bishop.
On Tuesday, the Board of Supervisors signed off on designs for a 41,944 square-foot building to house county Health and Human Services, Sheriff’s Department facilities and other departments who have offices or work primarily in Bishop.
The board also updated the non-binding term sheet for the build-to-suit lease option for the building. The update, County Administrative Officer Kevin Carunchio said Tuesday, is to reflect an increase in construction and financing costs.
The next step, Carunchio said, is to have county counsel begin work on a lease agreement for the $10.96 million building.
According to real estate and finance advisor Allan Kotin of Allan D. Kotin and Associates, when the county first embarked on its quest to research the economic viability of building a consolidated office in Bishop two years ago, “you started with the lowest interest rates in my lifetime, but they’re going up, and will continue going up. So whatever you don’t do now is going to cost more in the future.”
Read more in the Thursday, Nov. 14, 2013 edition of The Inyo Register.