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Special Board of Aldermen 12-07-2021 Page 21
Chairman Dowd

Hello, Treasurer Fredette you want to answer that? If we don't spend the money. | think | know but | think I'd rather
have the answer come from the Treasurer.

Laurie Ortolano
Thank you.

David Fredette, Treasurer/Tax Collector

We don't have this problem very often. | haven't seen it for quite a while but we may be able to use it to help make
payments on bonds but okay the principal on bonds. But there's a lot of IRS rules on that because these are non-
taxable bonds that we Sell. So there's rules on that. That's possibly one area that it could be used for.

Steve Bolton, Corporation Counsel

Mr. Chairman. We have to either use it to repay the principal on the bond or transfer it to another bondable
expenditure.

Chairman Dowd

I'm assuming testimony from Mr. Hudson that we have sidewalks in desperate need of repair and that's sort of a
safety issue.

Laurie Ortolano

So just a point of clarification.

Chairman Dowd

Excuse me, who’s speaking?

Laurie Ortolano

It's Laurie Ortolano. You know | would like you to consider changing the rules when you have a hearing so that we
can ask more than one question because clarification is important. If | want to back something, | want to understand
it. I'm just trying to understand what attorney Bolton said. So if the money has to be used toward the principal or on
the bond, you have this extra money from the LED projects. We are allowed to transfer it over to do sidewalks. Do
we have any money currently earmarked to address sidewalk issues?

Chairman Dowd

| think it was just pointed out that monies are collected when people do developments towards sidewalks and that
money is already being used to repair some sidewalks. This would be the additional funds so we can fix more of the

sidewalks that are in total disrepair.

Alderman O’Brien

30 seconds.
Laurie Ortolano

Okay. Well, we just finished redoing all the handicap ramps on sidewalks or I've been working on a big project on that
now. Was that done by impact fees or was that a separately funded project?

Dan Hudson, City Engineer

Sure. So the work we've been doing on the ramps is related to the paving program per federal regulations were
required to replace the ramp access or actually to make it ADA compliant. | should be clear. The ADA access to the
sidewalk system, so that work has been done and paid for as part of the paving program, although that is work that

Special Board of Aldermen 12-07-2021 Page 22
those funds could use for. As | said, | don't have the balances of those own accounts with me tonight. But it's not a
significant amount of money and it is something that we will continue to use and could be used towards that type of
work.

Laurie Ortolano

Thank you.

Chairman Dowd

Anyone else testimony in favor? Seeing none. Testimony in opposition. Seeing no one, other testimony in favor?

TESTIMONY IN OPPOSITION - None

TESTIMONY IN FAVOR

Laurie Ortolano

Yes. Laurie Ortolano. How will it be determined what sidewalks are going to be addressed? Is there an existing
sidewalk plan in place that you are working off of to do improvements throughout the city?

Dan Hudson, City Engineer

So to my knowledge, no. | mean there are specific issues that the Attorney General's Office is asking us to address
that have come to light relative to complaints we received. So Mr. Cummings will be up to speak about Riverwalk
later and that will address some of those issues. But no this is something that we need to do. The city needs to
develop a comprehensive plan and that's what part of this money will be used for but there are no shortage of areas
needing repair. | can go out and find you a dozen in a few minutes. So this funding will be helpful. It's something that
we certainly want and need to focus more on is going forward.

Chairman Dowd

Okay. All set?

Laurie Ortolano

Yes.

Chairman Dowd

This is testimony in favor.

Alex Comeau

Thank you Mr. Chair. Alex Comeau, 4 Lewis Street. | guess I’m undecided at the moment. | have a couple of
questions for Mr. Hudson if that’s all right. Forgive my ignorance but is there currently an amount already budgeted
for improvements in the design and construction of sidewalks? If there is, are you projecting a shortfall for that
amount that would make this expenditure from the bond proceeds necessary? Lastly is your department going to be
taking suggestions from neighborhoods for sidewalk projects that are necessary (inaudible)?

Dan Hudson, City Engineer

Sure. So there's a lot there. We're happy to take suggestions if people have issues with mobility and accessing
sidewalks. We're happy to take those complaints. The city also has an ADA coordinator who can be a point person
for those complaints as well. There's a lot of work that needs to be done and sidewalks is one area that we really don't
have a dedicated funding source for so to speak other than those contributions. We do make some repairs each year
through our Street Department and that's through some of the infrastructure funding that's provided in the budget for
the Street Department. But no comprehensive regular plan is in place and that's something that | think the city
eventually we need to get to there. But we need to do some work ahead of that. We need to do, like | said, an
extensive inventory and (inaudible) prioritize where money is best directed to have the maximum benefit. Then we

Special Board of Aldermen 12-07-2021 Page 23

would develop such a plan and hopefully at some point have a, you know, continuing funding source that we can rely
on to make those repairs.

Alex Comeau

Okay, thank you.

Chairman Dowd

All right. Any other testimony in favor?

Derek Thibeault

Derek Thibeault, 9 Emerson Road. Since we're asking questions, my curiosity is during a public hearing are we
supposed to just talk about what we want to talk about or do we ask questions? Because | thought we don't ask
questions right?

Chairman Dowd

In a public hearing, you can ask questions if there's somebody here that can answer they will. If we can't, they differ
it?

Derek Thibeault

Okay, so I'll get onto my point about roads. Roads, sidewalks - sidewalks need fixing. | talked to Lauren today at the
DPW and she said there is no sidewalk program like the paving program. So | think we do need to take that money
and fund the sidewalk program. Thank you.

Chairman Dowd

Thank you. Anyone else testimony in favor?

TESTIMONY IN OPPOSITION

Laurie Ortolano

Laurie Ortolano. Okay I'm now officially in opposition and I'll tell you why. | would like to see a comprehensive plan
developed and | don't think developing a comprehensive plan will cost $400,000. I'd like to see that done so that we can
get a picture of what the big, you know, the total cost of this project is and whether or not we can really begin funding it or
start that work given where we're going particularly next year with the new property assessments and the amount of debt
we've taken on. | don't want to authorize $400,000 to do not only the study, but potentially start something that we can't
finish. | also feel we're halfway through the spending year. If we could fund just the study, you know, by the time you're
ready to begin developing a new budget in April, you can look at funding this further if it's possible, but | think we're going
to be up against a wall when it comes to spending and when we know what's coming down the pipe on these new
properties which will be out next August. So I'm in opposition to this. Thank you.

Chairman Dowd

Anyone else in opposition? Seeing and hearing no one, I'll close the public hearing on R-21-187.

R-21-189
AUTHORIZING THE MAYOR AND CITY TREASURER TO ISSUE BONDS NOT TO EXCEED THE AMOUNT OF
ONE MILLION EIGHT HUNDRED FIFTY NINE THOUSAND FOUR HUNDRED AND FORTY DOLLARS ($1,859,440)
FOR VARIOUS IMPROVEMENTS AT THE SOLID WASTE DEPARTMENT FOUR HILLS LANDFILL AND THE
PURCHASE OF A REFUSE TRUCK AND WHEELED LOADER

Jeff Lafleur, Superintendent of Solid Waste

In this resolution, you'll see a lot of big ticket items but they're very important to the landfill. The first two I'll speak to is the
continuation of the Phase III landfill expansion and the Phase IV permitting for our landfill air space. The amounts there

Special Board of Aldermen 12-07-2021 Page 24

are for engineering of the expansions and the new permit for Phase 4. This will get us all the way through to construction.
DES has been giving us a real hard time trying to get the Phase IV permitted so this will be for the engineering and, you
know, answering questions for DES and public hearings when that finally comes to fruition.

Recycle area upgrades is another big ticket there. Our recycling area - | don't know how many of you have come to our
landfill but it is starting to deteriorate very, very quickly. We need to do some repairs there. Pavement some buildings are
starting to fall apart. We want to make it safe for our residents.

The wheel loader that we're asking for is a very intricate piece of equipment at the landfill. It's very much needed. It ships
all of our equipment. We load all of our recycling. We haul all our daily cover to cover our landfill and then the refuse truck
is one of our CNG sideload trucks that is needed to collect recycling and trash.

Chairman Dowd

Any questions from the Aldermen? Thank you. Seeing none, I'll open the public testimony for testimony in favor.
TESTIMONY IN FAVOR

Laurie Ortolano

Yes can you just tell me what the cost of the vehicle is relative to between the projects? I'm just wondering whether the
split is.

Chairman Dowd
The class of vehicle?
Laurie Ortolano

No the cost? This is a $1.8 million and it's for various projects with the landfill as well as a vehicle. What's the vehicle
cost?

Jeff Lafleur, Superintendent of Solid Waste

Jeff Lafleur, Superintendent of Solid Waste. The refuse truck that we're purchasing is $423,990.
Laurie Ortolano

And was that - so was that separate? That wasn'ta CERF item? It's here being proposed because it wasn't proposed in
the CERF budget?

Jeff Lafleur, Superintendent of Solid Waste

No, it's proposed as part of our CERF but the city decides to bond some of our equipment since they're such highly priced.
Laurie Ortolano
Okay. Okay. | gotcha.

Jeff Lafleur, Superintendent of Solid Waste

And just to answer the first part of your question, | am getting a wheel loader - the large wheel loader and that's $495,450.
Laurie Ortolano

Okay.

Chairman Dowd

All set?

Special Board of Aldermen 12-07-2021 Page 25

Laurie Ortolano

Yeah, | just think that, you know, that might be something we should have budgeted in the regular budget. That's just my,
you know, my feeling on them.

Chairman Dowd

So, the items are in CERF and some of the items especially larger items in CERF we have recently gone out and bonded
with a low bonding rate. Also, all of these cost items are in the legislation.

Laurie Ortolano

Okay, well I'm not going to talk again because they'll stay in the | favorite column. I'm not changing my mind.
Chairman Dowd

Okay, any other testimony in favor?

TESTIMONY IN OPPOSITION - None

TESTIMONY IN FAVOR - None

TESTIMONY IN OPPOSITION - None

Chairman Dowd

Seeing none, I'll close the public hearing on R-21-189.

R-21-193
AUTHORIZING THE MAYOR AND CITY TREASURER TO ISSUE BONDS NOT TO EXCEED THE AMOUNT OF
TWENTY ONE MILLION DOLLARS ($21,000,000) TO FUND ARCHITECTURAL, ENGINEERING, SURVEYING,
CONSTRUCTION AND OTHER RELATED WORK FOR THE DESIGN AND CONSTRUCTION OF A RIVERWALK
ADJACENT TO THE NASHUA RIVER NEAR MAIN STREET

Chairman Dowd
Okay. Yes Director Cummings would you like to come up?

Tim Cummings, Economic Development Director

Yes. Thank you, Mr. Chairman. For the record, Tim Cummings, Director of Economic Development. | put a quick
slide deck together to help organize my thinking this evening. I'm just going to quickly share my screen so it can come
up in front of everyone.

So again, I'm here before you this evening looking for authorization for $21 million for the implementation of the
downtown riverfront plan. Before | begin my comments, | think two points | want to make right off the bat because |
heard some earlier testimony. First and foremost, this project has been discussed here at the Board of Aldermen. In
fact, it was discussed with the Infrastructure Committee this fall and it has come up regularly over the last few years.

And then secondly, the monies used for this project are coming from the TIF District and you can only use these
monies within the district. So therefore, | just want to be clear that outside of the TIF District no one would be
supporting or paying for the cost of this project. This was a strategy that was implemented by the city very early on
when we endeavored to take on this type of revitalization project. I'll get into a little bit more of that as we continue
here.

So the genesis for the project. So if everyone recalls, we actually undertook a development plan. We did some
significant outreach throughout 2016 and then we adopted this plan in 2017. This was really an effort undertaken by
Director Marchant and she led a robust public engagement initiative. We had a lot of community outreach and it really
set the priorities that the folks who wanted to see the downtown river used differently outlined their priorities, outlined

Special Board of Aldermen 12-07-2021 Page 26

their thoughts, and we tried to capture those sentiments in this document and essentially what we're here today to do
is to implement that vision.

But before | go down that path, | want to just take a moment and say that this has been a long term plan that | have
heard about that the city has endeavored to do. In fact when | interviewed for this position, Brian McCarthy and |,
during my interview, spent a long time talking about mill cities and how mill cities really needed to use their riverfront
as a value proposition, as a natural asset that these middle cities had that could be used as part of a revitalization
strategy to redevelop their downtown. And it was, you know, in those types of conversations that started way back in
2016 that helped, you know, Director Marchant and | develop the plan that is, again, what we're using as our guide
post. And so what does this plan ultimately capture? It talks about multimodal connectivity, access to the river,
recreation, green space, environmental stewardship, environmental floodplain resiliency, environmental stewardship,
and economic development.

So after the plan was developed, we started with design and we put together a project team. We have VHB,
Halverson Design, Hayner Swanson, HL Turner, Fitz Myer Tauchi, and actually tomorrow we'll be interviewing
construction managers and hopefully a selection will be made sometime in the month of December and a contract
sometime in January so we can continue on with our timeline. But Halverson Design has been with us from the
beginning. They actually were the landscape architect that led the planning initiative back in 2016/ 2017.

So the project area. So the plan talked about four different quadrants. We're really focusing on quadrants two and
three of the plan and it's basically the parkway with the Veterans Memorial Parkway formerly known as the Broad
Street Parkway all the way to BAE. If you can see my cursor here, it's really what we refer to as the pedestrian pan-
am bridge.

So Resolution 21-193 before you tonight is a resolution seeking bond authorization for $21 million to implement the
Riverfront plan as described and to be considered a TIF project. The project before you would be utilizing TIF funds
generated through the TIF program and only TIF dollars will be used for this project. So | just want to make that
abundantly clear because | think there might have been some confusion about that.

So one thing | do want to talk about is the focus and the priority. So the focus and the priority will be the west side of
the river from Main Street Bridge to the parkway bridge. Due to the construction climate that we're in, currently I'm not
inclined to commit the entire project as presented but we'll take a phased approach and whatever available budget we
have and in consultation with the construction manager will focus on doing projects on the east side of the river. I'll
talk a little bit more about that. So we're looking at a $21 million project. We have about soft costs of $4.5 million.
Hard construction target of $15 million. We have a contingency of $1.5 million, which is the $21 million. The project
that we have conceptualized that I'm about to go through is above this $21 million figure. We will do the best we can
to get as much for the community as it can within the budget that we're allotted. The construction climate that we
have right now has been very challenging to say the least. | sent a communication to this body a few weeks ago
pointing out that construction prices are going up and it's very hard to forecast right now. So | would recommend
taking a little bit more of a conservative approach and then once we understand where we actually have available
budget, we look to add on some of the projects that I'll be talking about.

So here's the list of the projects that was identified in the plan. As you can see, a Pine Street extension crossing of
about $40,000; Factory Street extension improvements, which is $862,000; Parc de Renaissance a $4 million project;
Water Street improvements at $310,000; 4 Water Street $1.76 million; Bicentennial Park improvements at $583,000;
Riverside BBQ at $1.7 million; shared use path in between at $125,000; substation screening at $180,000; boardwalk
and dock $1.37 million; existing shared path improvements $230,000; Cotton Mill ADA ramp $576,000. That is one of
the projects that | believe our city engineer Mr. Hudson had mentioned that earlier that | would be talking about.
That’s a project that we need to prioritize to ensure that we get it done. A pathway around BAE is $600,000; construct
shared path at 60 Main Street, which is $530,000; widen the existing ramp that's their $130,000; boardwalk around 60
Main Street $1.3 million; lighting at $700,000, and then a pedestrian bridge. So one of the things that we discovered
as we Started design originally, we wanted to rehabilitate the pan am pedestrian crossing that's currently in existence.
So we were thinking we would use the existing bridge that's there. As we studied that initiative over the last couple of
years, it became apparent that the life of that is too far gone and it would be wiser and more efficient for us over a
lifespan of the project to actually for us to put a brand new pedestrian bridge in so we're providing for that at $1.7
million.

So I'm just going to quickly just go back here because | think | skipped over timeline and | want to make sure | catch
that. So | put a quick timeline in that kind of shows the master planning effort that took place in 2016 through 2017.
Then we as a community decided if we wanted to pursue this initiative, we really needed to adopt a TIF. So that's

Special Board of Aldermen 12-07-2021 Page 27

what we did in 2018/2019 very early on. Nothing that we're talking about here today is new. We've been discussing
this for quite a while.

And then preliminary design, we've been doing preliminary design for about two years now. One of the reasons why
is because we had to go through a lot of federal permitting process to be able to work within the waterway. That was
a year, year and a half on its own. So moving forward, hopefully we get bond authorization in 2021. We will continue
with design which should be about six months’ worth of work in 22. We would look to start construction and 22 and
final design is modeled for somewhere in 24 - 25. So this is a long-term project. We won't see this project concluded
until somewhere around 2025 maybe a little earlier but that really depends on how our construction manager develops
their schedule.

So going back to what | was just talking about here. What I'm highlighting is red is what | would be recommending we
commit to and that's, you know, just about $12 million in cost. So that is the $40,000 crosswalk on Pine Street
Extension, doing the improvements around and behind Clock Tower at just under $900,000, doing the Parc de
Renaissance which has been the gem that everyone has been discussing up to up till now which is a big part of the
initiative at about $4 million. Water Street improvements at $310,000; boardwalk around 4 Water Street at $1.76
million; Bicentennial Park improvements at just under $600,000; boardwalk around Riverside Barbecue at $1.7 million.
And again, | just want to remind everyone the City of Nashua embraced this idea of doing these cantilevered
boardwalks back in the early 2000s. And in fact, this initiative of trying to connect the riverfront through these
boardwalks started with Peddlers Daughter that is currently in existence. And so this is just a continuation of that
vision that started back in | would say 15 or 20 or so years ago. A little less than 20 years because | know a bond was
issued on that for about $8 million and | don't believe that's due to expire until 2024 or there abouts. So then with that
being said, we would be continuing on with the shared use park at $125,000; substation screening at $180,000;
boardwalk and the dock around Parc de la Renaissance at $1.37 million; existing shared path improvements at
$200,000; and again, that Cotton Mill ADA ramp at just under $600,000.

Then once we see how we're standing - so everything that I'm presenting before you right now in red, we have a
healthy contingency built into that as well as we have a separate contingency at $1.5 million. But as | said, I'm very
conservative in my approach here. Once we actually start the project, find more design done, we will have a better
understanding as to where we would have available budget, and where we do have available budget, I'd be
recommending we continue on with the yellow which is basically the east side of Main Street, particularly prioritizing
the pedestrian bridge at $1.7 million and then looking to do the other improvements.

So I'm just going to quickly walk around here so people can see what I'm talking about. Starting here is Riverside
BBQ. We'd be putting a boardwalk in and along through here and we've got a connection right to here. This would be
the shared use path and we'd have another boardwalk that would go in front of the substation. We'd be looking to
screen the substation. We have an existing path right here, but we'd be looking to make some improvements,
particularly adding lighting. This whole project contemplates the addition of lighting throughout the whole area to
improve upon it. And we have the ADA ramp that was discussed right in through here. Here’s the Cotton Mill transfer
bridge. Here’s the crossing that we're talking about here. Making improvements in and along Factory Street, behind
Clock Tower - this alleyway here making the major improvements along Parc de la Renaissance; making
improvements with yet again another boardwalk behind the Water Street building connecting on up to Bicentennial.

So I'll walk through some images to kind of show you what's been designing this far. So this would be Bicentennial.
One of the reasons why we're looking to do this is because technically right now Bicentennial Park is not ADA
compliant. Again, another issue that our City Engineer was representing that | would talk about. We would look to be
making this ADA compliant. How are we going to do that? Well right here folks may not realize that there's a
significant grade difference from when you're at Main Street as compared to when you get down to the bottom of the
green space. And technically right now all you can do is go straight down. Basically how my cursor is traversing the
screen. We would be adding in a new pathway around which, again, is meeting grade compliance but for ADA and
particularly people with mobility issues. So then we have the boardwalk around Water Street — 4 Water Street here.
So very similar. Everything here has been modeled after what was done over at Peddlers Daughter. Looking to do
the same thing. Here's kind of an image of what Parc de la Renaissance would look like if you were coming in off of 4
Water Street. Here's the idea of the connectivity down to the floating dock. You're coming in off of 4 Water Street or
Park de la Renaissance. Here’s the new image of what Parc de la Renaissance would look like from this view. Here's
what it would look like from the other side. Again, currently a lot of this is parking in through here. So it would be
removing a lot of that parking. We'd be looking to introduce it up here onto Water Street - basically create this green
space that people would be able to use as passive recreation. And also the thought process is this right here could be
used as a nice little area and you could do some informal type of performances right here. It kind of acts as like an
amphitheater of sorts. Here’s another view of what that would look like just to kind of show folks what we're talking
about.

Special Board of Aldermen 12-07-2021 Page 28

So Water Street reconfiguration. Again goes part and parcel with doing this Parc de la Renaissance Project. We
would be looking to introduce one way flow along Main Street here. We would not lose any parking down here, which
currently is where it exists. We would actually be looking to add it in on street. What does happen is Water Street
would no longer be two way, it would only be one way from Main Street to Factory Street. Then when you get to
Factory Street, you could make a left or a right. We're also talking about an addition of parking on to Factory Street
right here with parking that actually we tested this summer to see how it would do. Then ultimately if you wanted to go
north on Main Street, we would be looking to go left and you'd be able to go left down Factory Street and on to Main
Street. Now what folks may be asking themselves is without being able to make a left here and a left here is that
going to cause any type of impact? So | will tell you right now, you will be losing the ability to make a left out here
onto Main Street, but you'd be pushing it all onto Factory Street. We believe it can be accommodated but without
question, there will be some folks who won't like the queuing that will occur. We don't believe it will queue past here
and it would be actually a more efficient use of the space. But nonetheless, there is that convenience right now
having this be two way. | fully recognize that but we're not going to be able to accommodate everything. If we've
been designing this under the direction that folks going to keep the parking and that's exactly what we're doing. If we
were to remove this parking, you would be able to have that two way flow. But that's not the recommendation at this
time.

So here's just another look at what Parc de la Renaissance looks like at an aerial view of how it would be transformed.
Here's a closer look at the dock. So how the dock would work if you would be coming in off of the new boardwalk
here and there'd be basically a switchback right here. It'd be a landing on terra firma here. Some sort of land plank
out, and then the dock down, and the idea would be for it to be accessible for kayaks and what not.

So here's the improvements that we're talking about. What we refer to as the Factory Street improvements. This is
behind Clock Tower. Here’s the existing condition that's out here. What we'd be looking to do is add in some curving
on either side. We'd be adding in some bollards. We'd be screening. We'd be basically trying to make this more of a
pedestrian realm. We'll be adding lighting. So trying to create a more comfortable type of environment so people will
use this. And again, the idea would be to connect people walking from Mine Falls to the downtown through this type
of multimodal accommodation.

Here's a view of what the boardwalk would look like off of Riverside BBQ. Again, mirroring very similar to what was
done outside Peddlers Daughter and then continuing on and connecting up on to terra firma and the existing path
that's out there right now. So that's essentially what this project would be and then what I'm about to talk to you guys
about is what | would like to endeavor us to continue on doing when we have a better sense of the budget and to stay
within the budget of the $21 million, which first and foremost we would be just to orientate people here. Here's the
Jackson Falls Condominiums. Here's the Peddler’s Daughter. We would be starting right in about here with a new
path and in and around BAE where people would be able to walk. Then here is the new pedestrian bridge that we
were talking about adding in. We would essentially be looking to decommission. Now, this is not owned by the city.
The city has a lease on this. This is owned by Pan-AM. Pan-AM would still use it for its freight rail but we would just
be discouraging any type of walking across this bridge and we would be encouraging people to use this bridge
creating a better experience along here by paving it. There is an existing path right now. But it's rather basic or non-
paved. | will need to be enhanced. Then we'd be looking to make another improvement here by widening the ramp,
connecting it up because there's a big grade change. Here’s the dam. So if you recall, so here is the grade change
here to here. And then we would do another boardwalk around 60 Main Street, which is the Telegraph building. So
here's the widening of the ADA ramp that we were talking about that's currently narrow. Here's what would be the
new path that we'd be looking to create by BAE. That, again, would connect give full connectivity. So the new
pedestrian bridge concepts that we'd be looking to implement — here’s just a kind of give you an idea of what we
would be doing. And here's what it would look like actually installed.

So that's basically the project at hand that we've been working on over the last couple of years and bringing to design.
We are concluding preliminary design now. We'd be rolling into final design just after the New Year trying to get under
construction for the summer of 22. So relative to the debt schedule, and TIF revenue, and Treasurer Fredette is here
and he can go through the model in more detail but essentially we will need to generate just over a million dollars to
cover the level principal and level interest on a 30 year bond. Just want to note everything that we're doing here has a
life expectancy of 50 plus years. We're talking about boardwalks, and major infrastructure, and then we would have
an interest rate model at 2.75%. | have often told Treasurer Fredette that | think that that's extremely conservative,
but | understand why we're doing that. And then the TIF dollars generated. So to date we have about a million dollars
in the account. We've modeled that we will have a growth of conservatively 2.5 year over year. We'll end with $2.2
million and this leaves us enough room to also maintain and have maintenance done year over year for this area. So
| don't know folks have noticed over the last couple of years, but we've actually made a concerted effort of
landscaping, and removing trees, doing a lot of vegetation removal, getting rid of invasive species, really trying to

Special Board of Aldermen 12-07-2021 Page 29

open up the riverfront and make it enjoyable. A lot of people have remarked that they didn't even realize that there
was a river there. So we'd be looking to maintain it as we go forward and we built that into the model.

| believe Treasurer Fredette put this together for you. | can defer to him but essentially it goes through in detail what |
just discussed, which is a 30 year horizon. Here we have a beginning balance of $1.1 million. We have what will be
generated with TIF revenue. We have level payments of $1,000,037 and then we'll have available balance throughout
the entire TIF schedule. | will send this off to everyone if they so desire. | can | can e-mail it out. | don't know if
there's any anything that Treasurer Fredette wants to say on that but that concludes my comments that | have this
evening. Thank you Mr. Chairman.

Chairman Dowd
Treasurer Fredette did you have anything you wanted to add or

David Fredette, Treasurer/Tax Collector

| have some hard copies here if anybody wants them. Dave Fredette, City Treasurer/Tax Collector. As Director
Cummings said, we ran this through 30 years and of course, no one can predict years out but we do the best we can.
We start off with Fiscal Year 22 and what's in the balance in the TIF account. As you know, the tax revenue raised or
a portion of the tax on raising the TIF goes into this account each year. | have that growing as he said by 2.5 percent
each year. Maintenance costs - this year, it's high because they started last year. They did a lot of work but starting
‘23, it would be $260,000. It would go up each year by another 2.5 percent. So it shows the ending balance each
year what would be in that account. It would become the beginning balance the next year, the expenses that are
planned, and it shows a balance each year. So although it shows going down to around almost $270,000 at the end
of 30 years, the account would be - if everything goes according to plan - would have around $6 million in it which
could be used | guess for another bond is my guess. So we used a 2.75% interest rate and we also have the revenue
and the maintenance costs increasing each year by 2.5 percent. We did something like this similar for the paving
program. The payment perimeter is $37.5 million dollar bond over a period of years and that has revenue that pays
for that from two sources. Budgeted all that very conservative and that's turned out to be good, too, because the rates
on those sales have been lower so we've been able to do more on that project. | mean, you know, 2.75 is
conservative right now but, you know, | don't know what's going to happen in a couple of years. We plan to sell the
bonds in Fiscal Year 23 and possibly something | don't know yet. So anyways, that's the plan to pay off the bond.

Chairman Dowd
Any aldermanic questions for Director Cummings or Treasurer Fredette?

Alderman Wilshire

| just have a question if someone could explain the TIF a little bit so the public understands what the TIF is.

Tim Cummings, Economic Development Director

Yeah, happy to. Essentially what a TIF is, is tax increment finance in which you have the base level taxation which
goes to the general fund and then the increment that is above a development is captured, segregated, and set aside
for specific projects or specific priorities as outlined by the community. That is what we did with basically it's the Brady
Sullivan loss 34 project that we used as the as main genesis of where these revenues are coming from. We very
astutely knew that that project was because it was an empty mill building was going to have an increment and we
could capture that increment and then dedicated to the improvement of the riverfront for the entire city.

Chairman Dowd

Any other questions?

Alderman Kelly

Thank you and thanks for the presentation on this. It was really helpful. My question, actually, | was really
appreciative of the discussion around kind of taking a slow approach to this. At a previous meeting, | had asked about
what are we doing for contingencies as materials are going up? So | just want to make sure | understood it sounded
like $50 million what you’re asking for but you're going to only start with that $11.8 million and see where you're at
before you go. | guess (inaudible) additional projects. Is that correct?

Board of Aldermen October 25, 2016

PERIOD FOR GENERAL PUBLIC COMMENT

Ms. Mary Elizabeth Carroll, 91 % Chandler Street

| have been hospitalized three times in the last six months in the mental health ward because doctors
don’t see anything on me. This airborne chemical is microscopic like dust. You do see it on the streets,
sidewalks, parks, yards, schools and libraries. You also see it on the dashboard of your car but you don’t
see it on you. | went to a new internist in May as my internist that | had for two years thinks | am
hallucinating. | went doctor shopping and found another doctor and I’ve had two skin scrapings over the
summer and they found nothing. | saw a dermatologist yesterday in Boston and she would not biopsy
me because all she found was lumps and dry skin. | guess a lump isn’t going to tell you that you have
something under the skin. | did take a sample from my car and | told her what is in the car is inside me
but with no cuts and rashes then no biopsies. I’ve been seeing the glass on me three times a week since
March, outside, most of the time in the sun. Heidi does not believe me, she tells me to my face that it is
a perception of mine. It’s a common sense, what is on the dashboard is inside of me. | know what | did
and | know what she did. | played with fire and burned myself. Heidi Peek played with fire and burnt the
whole world. Every person in all seven continents has some type of mineral or chemical that feels like
and looks like glass in the pores of their skin, in their cars and their clothes. Heidi did nothing, she did
not call the police department or poison control, she called a psychiatrist and still three years later she is
calling a psychiatrist every time | go see her. We all different, it's an allergy. Our allergies are different
just like our favorite color. | guess if the whole world ends in ten years that’s on Heidi and not on me.

REMARKS BY THE MEMBERS OF THE BOARD OF ALDERMEN

Alderman Lopez

| wanted to express my condolences to the family of Amber Carroll.

| also wanted to invite anyone who would like to participate to the Nashua Crop Walk. It’s a good way to
walk in solidarity with people who are less fortunate around the world and to raise money for local
charities such as the Nashua Soup Kitchen.

Alderman Siegel

| would like to thank Fred Teeboom for all of the work that he has done. There is no doubt that the
memorial is a very good thing and | would like to thank him. I’m sure my colleagues would echo that as
well.

| would also like to thank the Mayor and the city staff. We are a city but we actually have a small town
heart and that was very clear in the wake of this tragedy. Everyone worked very hard and | appreciate
that and all of the sentiment. | think the Mayor and his staff did the best job possible under pretty horrible
circumstances.

Finally, congratulation on becoming a dad to Alderman Schoneman, welcome to the club.
Alderman Deane

| would like to echo with what Ken had to say. Jim, you and your staff did a great job handling what was
a terrible accident. Things are being addressed but it’s terrible to see such a young life taken.

I’d like to send my condolences out to the family and friends of Mark McAffee who passed away last
week at the age of 23 years old; another young life taken. As a city everybody came together and
provided due diligence on what had happened. There was a lot going on at the time in the city behind