USS Saratoga Museum Foundation, Inc.

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RUSSIAN SUB
Saratoga Press Release

FOR IMMEDIATE RELEASE
July 13, 2001

Contact: Frank Lennon
      (401) 831-8696

      Christopher P. Morra
      (401) 438-8880

CARRIER MUSEUM PROJECT RECEIVES $250,000 COMMITMENT FROM SECURITY COMPANY

The USS Saratoga Museum project took another large step toward reaching its fund raising goal with today's announcment that National Security Fire Alarm Systems has committed to donate $250,000 worth of equipment and technology to the project. The East Providence-based firm will design and install access control, fire alarm and security systems for the USS Saratoga Museum Foundation, Inc., which seeks to develop a non-profit Air, Land & Sea Heritage and Technology Park as part of the Quonset-Davisville development.

"I think having a carrier museum in Narragansett Bay is a solid idea," said National Security president Christopher P. Morra. "In fact, when I first heard about the ships being mothballed at Pier 1 in Middletown I put a group together and approached the Navy about the USS Forrestal, Sara's sister ship. We were looking to place her along Veterans Memorial Parkway to help revitalize the East Providence waterfront.

"The Navy told me about the Saratoga group, and said their effort was pretty far along" he continued. "They hinted that it might be better to join forces rather than have two competing proposals in one location."

Frank Lennon, President of the USS Saratoga Museum Foundation, Inc., is very glad Morra took that advice.

"This is a very important step forward," said Lennon. "Security and fire protection concerns play a major role in the Navy's review of our application, and having the prestige and expertise of National Security behind us will be a big plus," he contined.

"The more we can get local companies involved, the stronger our project becomes," Lennon added. "We hope Chris Morra's commitment will lead the way for similar participation by other Rhode Island firms."

While Morra believes this commitment makes good business sense long-term, he also acknowledges an emotional tug played a role in his company's decision.

"My father, William J. Morra, served on USS Ticonderoga from 1955 to 1958," he said. "That carrier was also based at Quonset, and I am making this donation in his memory."

The Saratoga project is a nonprofit blend of past and future, family attraction and scientific frontier that would:

  • Attract over a half million visitors annually, many of whom would not otherwise come to the region;
  • Generate more than $30 million in annual economic impact;
  • Directly and indirectly, create more than 575 jobs;
  • Produce more than $1.6 million in direct tax revenue;
  • Result in a world-wide public relations boost for Rhode Island and North Kingstown;
  • Offer public access to and use of another part of the Quonset waterfront.
Of the estimated $7.5 million start-up costs for the project, $5 million in financing is tentatively in place. That commitment is conditioned upon state approval of an appropriate mooring, the Navy's eventual donation of the vessel as a museum, and the Foundation's ability to raise the $2.5 million balance.

"The Navy will accept firm pledges to be paid over a reasonable period of time, as well as bona fide in-kind contributions that would otherwise represent cash disbursements," Lennon said. "This commitment dirctly knocks a quarter of a million dollars off our pre-opening costs."

The proposal for the Park received a major boost in February when The Champlin Foundations committed a $500,000 grant. The Rhode Island General Assembly has also committed a total of $50,000 in legislative grant funding for the project in recent months.

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