City of Salem Massachusetts
Public Meeting Minutes
Board or Committee: Redevelopment Authority, Special Meeting
Date and Time: Thursday, July 31, 2008, at 6:00 p.m.
Meeting Location: Third Floor Conference Room, 120 Washington Street
Members Present: Chairperson Michael Brennan, Russell Vickers, and Robert Mitnik
Members Absent: Conrad Baldini, Michael Connelly
Others Present: Executive Director and City Planner Lynn Duncan
Recorder: Lynn Duncan
Chairperson Brennan calls the meeting to order.
Old/New Business
1. 50 St. Peter Street (Old Salem Jail): Discussion and vote on proposed timeline extension
Duncan reads the extension request from New Boston Ventures (NBV). The request is to extend the closing date to November 30, 2008, a 120-day extension. Consistent with the previous timetable, the other deadlines would be as follows:
§ Submittal for building permit: Completed on or before December 15, 2008;
§ Commencement of construction of project: Completed on or before December 31, 2008; and
§ Construction of project: Completed on or before March 31, 2010.
Mitnik asks about the status of the tax credits.
Duncan states $500,000 in state historic tax credits have been awarded, and NBV will be applying for an additional $1,500,000 in a future round. The application for $2,000,000 in federal historic tax credits is being reviewed. Some minor changes may be needed to the plan, and NBV is working with the National Park Service.
Vickers asks what the total amount of historic tax credits is.
Duncan states NBV is requesting $2 million in state and $2 million in federal historic tax credits. Duncan adds that there were no awards made in the last round of state historic tax credits, and NBV will apply again in the next round. NBV’s lender will bridge the state historic tax credits until they are awarded. The federal historic tax credits need to be awarded in order to close.
Brennan states that this is a great development group and one of the best preservation architects in the country.
Vickers adds that he concurs and that the Department of Interior’s questions can be resolved.
Duncan indicates that NBV will likely make some minor changes and will be able to resolve the questions with NPS in a timely manner.
Vickers: Motion to authorize the chair to enter into the amendment to extend the closing to November 30, 2008, seconded by Mitnik. Passes 3-0.
Informal Discussion of Solar Trash Compactors and Recycling Kiosks
The SRA informally discussed the proposal for the Solar Trash Compactors and Recycling Kiosks that was submitted to the DRB by the City of Salem, as well as the DRB recommendation. It will be on the agenda for the August 13, 2008 meeting.
The meeting is adjourned at 6:25 PM.
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