Boyer: Our money situation is fine

(Park Record) An official with The Boyer Company, the developer teaming with City Hall on a major Quinn's Junction project, said Thursday night the Salt Lake City firm is "well capitalized" when asked in an interview about its financial situation.

Patrick Moffat, The Boyer Company project manager for the deal with City Hall, said the firm has the financial wherewithal to proceed with the development as a partner with the municipal government.

"Financing's really not an issue," Moffat said.

Moffat, though, declined to discuss details of The Boyer Company's financial situation. The firm is privately held, meaning that it is not required to make its financial statement public. Publicly traded companies must release detailed information.

"I'm not going to get into our company's finances," he said, adding, "We're a big company, been around a long time."

The Park City Council on Thursday night voted unanimously in favor of a $5.5 million deal with The Boyer Company that makes City Hall a partner in approximately 200 acres of land. The two sides are considering a development with market-priced units and work force housing, but details will be decided later.

Moffat told Mayor Dana Williams and the City Council The Boyer Company would provide City Hall financial information, but he did not indicate what sort of documentation the firm plans to submit. It was not clear whether the documentation will be made public.

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