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regarding the Project, including whether the proposed atrium
should remain a part of the Project. Harrison Price prepared a
report dated August 20, 1980, entitled “Economic Contribution of
the Glass Pavilion to the United Bank of Denver”, setting forth
its opinion regarding the proposed atrium (the Harrison Price
Report). The Harrison Price Report assumed that the proposed
atrium would cost $16 million and estimated that it would
generate a net operating deficit of $100,000 a year, based on
revenues and operating expenses of $500,000 and $600,000,
respectively. The Harrison Price Report concluded that the
proposed atrium “is a rational and constructive commitment which
will return a positive benefit to the stockholders” of the Bank.
That opinion was based on three factors: (1) the proposed atrium
would increase the rental rates for 2UBC and 3UBC to generate a
value addition of $9 million, (2) the proposed atrium “provides a
means to counteract any adverse perception of Number 1 United
Bank Center associated with an off-Broadway location”, and
(3) the proposed atrium “will in all liklihood [sic] add power,
presence, and image to the Bank's operation which will be
reflected in greater market share.”
d. The Planning Dynamics Report
In a letter dated August 25, 1980, Richard R. Holtz,
president of Planning Dynamics, addressed the economics,
aesthetics, and functionality of the proposed atrium (the
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