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Special Bd. of Aldermen — 03/6/2018 Page 9

Alderman Lopez

One of the things in the video that made me a little bit nervous was where they were talking about run down
neighborhoods where all the crime was happening and everything and they were like and we invested, and we
rebuilt things, and like they're totally different houses so yeah they sure invested. | had actually talked to
Director Marchant about the possibility of this inadvertently finding specific neighborhoods. She had pointed
out that the district that we’re talking about doesn’t have neighborhoods per say. It has apartment buildings
like Clocktower, Cottonmill, or those future buildings. |’m pretty confident we’re not going to be bulldozing
neighborhoods or anything. There was in the plan a section where it talks about relocation of businesses and
individuals. So | just wanted to touch upon why that’s in there and what’s meant by that.

Director Cummings

Thank you. So to be compliant with the RSA, we had to make sure we dedicated a section in the plans
speaking to what we’d need to occur if we were ever to go in that direction. It is not our interest or intention to
do anything like that. This again is just creating the governance model so we could have a conversation about
what | believe is the adoption of the Riverfront plan which is really just infrastructure improvements along the
waterway.

Alderman Lopez

There’s a very small section so | just wanted to raise the question because it looked like it was just at an end to
be thorough. | also noticed on that list of different alternative like once you start a project you have to have a
diversified funding source. | just want to repeat my annual complaint that | think CDBG is something we do
really well. It’s listed as a potential funding source for projects. Personally | would be not enthusiastic about
trying to change that model for development purposes when it serves an immediate and existing community
need.

Director Cummings

Thank you. Your point is well taken. Again just to try to be all encompassing, we just wanted to put in all of the
potential programs.

Alderman Lopez

It looks better when you have a lot of bullet points than like two.

Director Cummings

Yeah that could be used. CDBG is one of them. I’m not saying that we will take advantage of that. | will also
want to take this opportunity to point out — and I’m not saying that we would do this — but | know of other
communities who have set aside TIF funds to help current residents in neighborhoods that have the fear of
being dislocate because of gentrification support them with additional assistance. It is none uncommon
practice of creating a revenue stream to help your current clientele so they feel welcomed and they don’t feel
like they’re being pushed out of their community. As one of the great ways in resources to use your TIF funds
for. Again we’re not going to talk about specifics but | wanted to make sure you knew that that was one of the
ways you could use your funds.

Alderman Lopez

Well | appreciate that observation just because this part of the TIF district doesn’t seem to include the other
side of the river but the riverfront development plan does include the area by the library walk and I’m imagining

Special Bd. of Aldermen — 03/6/2018 Page 10

the neighbors whose backyard of the library walk might feel like what are you doing to my backyard. What's
going to happen next?

Alderman Klee

Thank you. So the TIF money stays within the district that it is collected from. Is that correct?

Director Cummings

Yes.
Alderman Klee

So it will be just the riverfront and currently it’s just going to go from the bridge all the way. | can see from
there. It’s not going to be on the Peddler side, or the Marguerita side, or BAE then is that correct?

Director Cummings

On the Peddler side, there’s an existing TIF. So that will stay in place. However on the library side if you will,
there would be no TIF on that side as of today. If all goes well, maybe we’ll be back and we’d be looking to do
that.

Alderman Dowd

A couple of things. The TIF really helped to change a blighted area as we all know into a really nice area over
by Peddler’s that used to be a very bad place. In this instance if this gets passed, tax money from that area
would be put into a special account to be used for development. Two questions. One the river project seems
like — and | think we may have talked about this before — probably too big to be run without help. Are we
looking to develop some kind of | don’t want to say committee, some kind of a group that’s going to oversee
this? The other question associated with that is as | believe you said before that any expenditure of those
funds in this area would come back to the Board of Aldermen for approval?

Director Cummings

So the answer is yes to your questions. First what | would envision and recommend is that the riverfront,
Riverwalk if that is the first priority and | believe it would be to get endorsed and move forward from an
infrastructure perspective also have a component where through a private sector RFP contractor would be
brought on board to help with the maintenance and to make sure that we had an operational plan as well as a
capital plan and we would use the money from that to service that improvement. | think that is the best
practice that is used across the country to ensure that we are taking care of our priorities once they’ve been
met.

Alderman Dowd
Follow up. As a logistician on thing that concerns me all the time is we build something and then forget about

it. I’m going to make the presumption, correct me if I’m wrong, that these TIF monies can also be used to
maintain whatever we do in that area to keep it up and running.

Director Cummings

Yes. Again | think it would be through an RFP, a private sector vendor who would be accountable to a board.
Our current TIF has a board and an administrator. The Director of Economic Development is the administrator
to the Board. So there is a TIF Committee already established that would be — if you want to think it in a way,

Special Bd. of Aldermen — 03/6/2018 Page 11

it’s like the Downtown Improvement Committee. It’s a very similar model to our Downtown Improvement
Committee and again it would be a similar type of governance process. What would come back before the
Board of Aldermen would be an amendment to the plan and that amendment would articulate how the differing
financial plan would work and what projects would be expended or spend money on. Then it would be the
committee that would have to actually execute on the project.

Alderman Dowd

Just one other follow up that just came to mind. Did we already address any environmental pollution agency
concerns about working in this area?

Director Cummings

So I’m going to defer to Director Marchant. My understanding is that was part of the plan that was developed
this summer.

Director Marchant

It certainly was. It was some of the biggest concerns that we got from the public was the invasive species and
the inability to access the river and the lack of maintenance. The city with its partner with the Cottonmill
development actually did a lot of invasive removal also with some other funding sources in the past 3 to 5
years but because of the lack of maintenance, it’s all completely grown back again. The point this time is to do
it right and to be ready to maintain it because we have a dedicated funding source. We are on a very limited
budget and we have so many resources and it’s very hard for the city to get to all of our resources. That is a
huge part of the plan and it’s a huge part of what we’ve heard from the public about what was most important
to them. As far as other contamination, or cleanup, or issues, there are no other known ones at this time and
we’ve worked with all of our property owners along the river depending on whatever they’re doing at any point
to take care of things.

Alderman O’Brien

Thank you Madam Chair. | think this is perfect for this particular area. This is a part of the city that’s a
diamond in the rough that really needs it. My personal walking many of the surrounding areas on it, I’ve seen
some of the investment we’ve put in it unfortunately some the beer cans and trash that’s on there but | think
once the people see the investment that we’re putting into it will be good. My question is on the TIF itself.
Have there — which | support don’t read between the lines but I’m saying have there been communities that
revoked the TIF and is there a procedure to that? In case something unforeseen in the city’s future is there a
failsafe to that?

Director Cummings

Yes absolutely. That’s a great question. Madam Chair and through you to the Board. 1) The body can pull
back and revoke the TIF at any time for moving forward except for funds that have been already obligated. If
you issue a bond and you have debt service, you’re going to need to maintain that until your debt service runs
out. You can with free and clear cash money if you will you can eliminate your TIF at any point in time.

To the second part of the question which is a really important one and one | have taken some time to study is
the best practice is one should invoke if you are going to adopt a TIF. The reason why you should do that is
because there can be waste. There can be abuse and not to name names but | think the Chicago if you were
to do any research has proven out that fact that without adopting some best practices you can get into some
real trouble. One best practice — you want to leverage your private sector dollars. So you want to see and
develop a certain ratio. Maybe it’s 10 to 1. For every $10 the private sector invests, maybe you do $1 of public
investment. That is just an example. By no means do you have to follow that metric but you want to leverage

Special Bd. of Aldermen — 03/6/2018 Page 12

private sector development. You also want to make sure you have a development agreement in place. You
don’t want to be doing anything on the wish, and the hope, and prayer that if you build it they will come. That is
something that can get communities into trouble. | can tell you here locally in the State of New Hampshire, the
City of Concord has done an excellent job actually of developing some best practices and some rules that they
live by. | would suggest that we would emulate those types of rules to ensure that we do things on the up and
up. The last part is making sure we have accurate and clear reporting. That would be really important to me so
everyone knows exactly how the TIF dollars are being used in the community.

Alderwoman Melizzi-Golja

First of all Director Cummings and Director Marchant thank you for this evening. | think it’s really important to
remember why April 1* is so important in terms of capturing the most we can. When | had raised my hand, it
was while Alderman Dowd was asking questions and | was just going to ask you to basically summarize what
is on the last page of the memo you gave us regarding how the TIF is administered and when and how it can
be dissolved basically for people who are listening. | think in responding to Alderman Dowd and responding to
Alderman O’Brien you have done that. | think it’s important that anyone who is watching this evening or who
listens in the next week or so understands what we’re about to do and that it will have its own advisory board
but they will be reporting back to us. As you indicated, it can be dissolved once the obligations are met. Could
we have this attached to the minutes so people can also reference this for this meeting? Thanks.

Alderman Jette

So I’m wondering | think I’ve seen the master plan is to continue the riverwalk to the east side of Main Street.
Right now the riverwalk goes on the north side of the river and by Peddler’s Daughter. | thought the plan was
to loop the riverwalk around so that it came back across the south side of the river and to the east of Main
Street all the way to where there’s a walkway right at the dam there behind the library. It seems like a glaring
omission to my eye. I’m wondering why.

Director Marchant

So that was one of the phases of the riverfront plan. The riverfront plan was broken down into four sections
and this was the third section. The focus of this portion of the TIF is to start with that piece between the Main
Street Bridge and the Broad Street Parkway to focus the funds there, to get us started, to walk not run like Tim
said, to see if we can focus on that piece and from there to potentially with success add on this area absolutely
which has a different feel. A little bit of different improvements involved here and then also to do the first
section which is closer to Mine Falls Park as well. So we were just focusing on this middle section for the initial
TIF.

Chairman Wilshire

It’s possible that we could take this all up at the committee meeting all this debate on the TIF. You can
continue Alderman Jette but | think it might be more appropriate to take all this up at the committee after the
hearing. Is that all right?

Alderman Jette

Okay. | guess I’m unclear. Are we not asking questions now?

Chairman Wilshire

We can continue with the questions | just want to put it out there that there’s a meeting after the public hearing
to discuss the whole TIF.

Special Bd. of Aldermen — 03/6/2018 Page 13
Alderman Jette

Is there anyone from the public here to speak?

Alderwoman Melizzi-Golja

If | may | guess for new members of the Board, typically a public hearing is a presentation to give information
and then we ask members of the public who may be here to speak in favor of or against very similar to what
happens at Planning Board and Zoning. Then the hearing is closed and that’s our time to go into whatever
meeting. Sometimes it’s a full Board of Aldermen meeting. Sometimes it’s another committee meeting to then
ask questions. | think that’s what Alderman Wilshire was talking about not to end questioning but to talk about
the appropriateness of what we’re doing because at some point on her script it says as for statements for those
in favor and opposed and then if there are none to close the public hearing and go into the meeting. | think it
was just the procedure she was talking about.

Alderman Jette

Since | don’t see anyone from the public here, so whether | ask the questions now or in the next phase of this,
that’s up to you | guess Madam Chair.

Chairman Wilshire

| think we’re going to continue with the public hearing and then turn this over to the Planning and Economic
Development Committee. That's what you’re having your meeting on, right?

Alderwoman Melizzi-Golja
Correct.
Chairman Wilshire

Is that okay with everyone? | think really what we’re doing is opening this up for the whole committee but we
want to move along with the public hearing. With that said, | think what I’m going to dois...

Director Cummings

Thank you Madam Chair. | just want to note for the record because we are in a public hearing and this is just
more of a housekeeping item, | would like the record to reflect that we properly notified all stakeholders as per
the RSA including the Board of Education and the County Commissioners. So | just want to make sure that
that’s on the record.

Chairman Wilshire

Very good. Thank you. What l’m going to do is I’m going to open this public hearing up to the public. Anyone
here who might want to give testimony in favor?

Special Bd. of Aldermen — 03/6/2018 Page 14

Testimony in Favor — None

Anyone want to give testimony in opposition?
Testimony in Opposition — None

Testimony in Favor — None

Testimony in Opposition — None
ADJOURNMENT

MOTION BY ALDERWOMAN MELIZZI-GOLJA TO ADJOURN
MOTION CARRIED

The meeting was declared adjourned at 8:04 p.m.

Attest: Patricia D. Piecuch, City Clerk

RFPO609-031116
CITY OF NASHUA LED STREET LIGHTING CONVERSION PROJECT
MANDATORY PRE-BID MEETING Q&A

1. Specify the project timeline.
a. We would like the project done by the end of calendar year 2016 or sooner.

2. What are the Fixture Standards?
a. Please see “1. What constitutes an “accepted LED fixture?” in the attached “SCHEDULE

D, RATE EOL LED FAQ.”

3. Provide inventory of fixture types (decorative, cobra head, etc.).
a. The City does not have a street light inventory broken down by type. The Eversource
street light ledger may provide more guidance regarding this question.

4. Provide the Eversource street light ledger.
a. The Eversource street light ledger is attached as part of this addendum (see “SCHEDULE

C, EVERSOURCE STREET LIGHT LEDGER”).

5. Fuse clarification.
a. Eversource has fuses already incorporated into the power feed. Therefore, fixtures do

not require internal fusing.

6. Clarify work hours.
a. The City wants work to occur during regular working hours, with some overtime work as

needed. Noise ordinance hours are 7:00am to 8:00pm.

7. Specify maximum allowable work days per week.
a. Monday through Friday, with some pre-approved Saturday work.

8. Provide published Police regulations for Traffic Control.
a. Refer to the attached Schedule E Rules and Regulations for Street Encumbrance Permits.

9. Will there be an Eversource contact if bad arms, etc. are discovered?
a. Yes, Eversource will provide a dedicated contact for assistance and coordination with

this project.

10. Do LED fixtures require labeling?
a. Fixtures require a sticker that can be read from the ground indicating wattage. See other

terms in “SCHEDULE D, RATE EOL LED FAQ” attached with this addendum for further
description.

11. Clarify where to insert labor markup.
a. “SCHEDULE B, COST PROPOSAL SHEET TEMPLATE” has been updated with clarifications.

Labor markup related to installation to be included in “Installation Labor Unit Cost Per
Fixture” column.

RFPO609-031116 Addendum 1- City of Nashua LED Street Lighting Conversion Project Page 2 of 6
229 Main Street » Nashua, New Hampshire O3060 » Phone (603) 589-3330 « Fax (603) 589-3344

3/6/2018

Tax Increment Financing Presentation

Presented By:

Tim Cummins

Director of Economic Development
_ City of Nashua

Sarah Marchant
Director of Community Development
City of Nashua

What Is TIF...

+ Established In the 1970s in N.H.
* RSA 162-K Enabling Statute

+ Captures all property tax revenues generated by new development
within a TIF district to fund projects (capital/operating costs)

* Please Memo

Overview of the General Concept

How It works....

TIF Assessed Vaiue (AV) Over Project Life

Assessed Value (AV)

Hypothetical An Exaggerated Example

* “Original” or Base value = $3,000,000

* Post Project Value = $50,000,000

* Increment or “Captured Value” = $47,000,000

* Tax revenue on $3,000,000 “Original” value = $60,000 (s20 x Rate)
* Tax revenue on increment = $940,000

* $60,000 to General Fund

* $940,000 to Captured In the “TIF”

Nashua Riverfront
Tax Increment Finance District

Revoleprent Promcam & Financing Plan
esr 2018

ean vet THF Pa eh

3/6/2018

NASHUA DOWNTOWN
RIVERFRONT
DEVELOPMENT PLAN
FINAL REPORT

ioe dnonden

Camenunity Developenent Obeion

Prepared by Haleorsan Desk
Auapont 2007

Six BIG ideas for
Nashua’s Riverfront

ep oeeopea aetonres on $
fronts oct me och coaans ecb

RECREATION A GREEN SPACE

Specifically.... Nashua’s Riverfront TIF
Potential ~~ TIF Projects 2% wit hae
We will be implementing the Riverfront Plan...

Riverwalk

Greeley House
Lighting

Fountains

Boat House/dock
Plaza(s) & Courtyards
Screening of Substation
Bicycle Connections

We will need to come back before
you to amend the document to do
anything specific project

neta $ as RIVERFRONT beeen
NASHUA, NEW HAMPSHIRE =

Questions....

SPECIAL BOARD OF ALDERMEN
MARCH 6, 2018
7:00 PM Aldermanic Chamber
PRESIDENT BRIAN S. MCCARTHY CALLS ASSEMBLY TO ORDER
PRAYER OFFERED BY CITY CLERK PATRICIA D. PIECUCH
PLEDGE TO THE FLAG LED BY ALDERMAN TOM LOPEZ

ROLL CALL

PUBLIC HEARING
O-18-006

EXPANDING THE TAX INCREMENT FINANCING DEVELOPMENT DISTRICT UNDER
RSA 162-K AND NRO 295-11, ESTABLISHED BY O-03-171 AND REPLACING THE
TAX INCREMENT FINANCING DEVELOPMENT PROGRAM AND FINANCING PLAN
ADOPTED BY R-03-197 AND R-04-58

Testimony in Favor

Testimony in Opposition

Testimony in Favor

Testimony in Opposition

ADJOURNMENT