2005-11-03 SRA Special Meeting Executive Session MinutesSRA Minutes
November 3, 2005
Page 1 of 1
EXECUTIVE SESSION
MINUTES OF THE BOARD MEETING
OF THE SALEM REDEVELOPMENT AUTHORITY
HELD ON NOVEMBER 3, 2005
REDEVELOPMENT AUTHORITY PROJECTS
Executive Session
Old Salem Jail – Review and discussion of confidential financial information submitted by the
finalists for the redevelopment of the Old Salem Jail Complex and the review provided by Peter
Smith Associates.
Peter Smith discussed his financial analysis of the finalists proposals based on the financial
statements submitted, background and credit checks, and financial references. He noted that
Diamond/Sinacori only provided information on the firm and not on the individual partners.
Mr. Smith stated that each team was financially capable of completing the project and would be
able to obtain loans for the project. He stated that Diamond/Sinacori was not as strong in their
net worth but they are finalizing the
Adjournment