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Special Board of Aldermen 03-15-2021 Page 10

Who is paying for the enhanced intersection? | am guessing that if it is not part of the project it is going to
become part of a budget item so | just wonder if that’s been covered or not?

President Wilshire

Director Cummings?

Director Cummings

Yes, thank you. So no that hasn’t been covered yet but | think it is a good point that | want to just kind of hit
upon. Right now on the Broad Street Parkway there is only one access point. It is what is referred to as a
limited access roadway. It has always been planned that “curb cut” would happen in one designated area
which just so happens to be right along where the Fimbel Door and the City’s right-of-way is. And | know it
is the intention of Blaylock to construct a roadway that could accommodate the development that they are
talking about and they are anticipating. We, as a City, have also from a long-term planning perspective told
them that we need to make sure that we also anticipate other type of development happing at the site so
we don’t preclude ourselves from any type of future development that might not be done by Blaylock itself.

Studies to get us that far and what type of infrastructure, how much cost has not been done yet. | do think
that Blaylock will represent to us that they want us, the City, to entertain all that type of infrastructure
investment. So that’s going to be a conversation to be had for sure as the conversation moves on. And |
suspect it will be a negotiating point as we continue, if we continue. And that is something that we should
be thinking about and should be in the back of our mind.

Madam President, | do want to just touch upon one comment that Alderman Dowd made when he first
started his comments which he mentioned that the EPA is going to “do the monitoring”. | just want to clarify
for the record, the EPA cannot do the monitoring. My understanding is the DES has the responsibility of
doing the monitoring or other entities not the EPA. And in this instance, my understanding is they actually
have the onus of the “monitoring” happening with Blaylock itself. So Blaylock has, as | understand it,
agreed to do the monitoring and the operations and the on-going oversight of that area which | think is a
little bit of a concern and | have raised this with everyone so far. And | think it is something that that we are
going to need to continue to talk about moving forward. But DES has indicated that they are not going to
take on the onus of it. EPA is precluded from doing it; and the City has also said that we are not interested
in taking on the O&M.

Alderman Dowd
Quick follow-up?
President Wilshire
Alderman Dowd?
Alderman Dowd

| guess that would be one thing we need to nail down is who is going to do the monitoring. Based on what |
had seen from those presentations | don’t know if we have the local expertise to do that. So that would
either be a cost to the City if it’s not being picked up by somebody else. The other thing is the newer
members of the Board may not realize the Tamposi’s have a piece of land that they haven’t been able to
develop because they haven't had street access. But if this is opened up to the Broad Street Parkway, they
would have access and there would be that development as well, which from a tax standpoint would be
good because there’s a lot of tax on property there that add to our tax base. These are a lot of things that
were in presentation previously that perhaps we ought to resurrect.

Special Board of Aldermen 03-15-2021 Page 11

Director Cummings

And if | may, Madam President, | just want to clarify, so there is money as | understand it, set aside to do
the ongoing O&M, it is just who will do it and access that (audio cuts out) is | think the question to be had.
And, of course, one of my concerns is enforcement. If we see the O&M is with the EPA or the DES and the
City of Nashua doesn’t have the ability to enforce it, we are the ones that have to live with it. So if
something happens we want to make sure that we have some strong oversight on that front. So, again, this
is a subject area that is going to need more conversation so everyone gets to a comfort level. But it is one
that | want everyone to be aware of.

President Wilshire

Thank you. Alderwoman Kelly.

Alderwoman Kelly

Thank you Alderman Wilshire. Actually Alderman Dowd beat me to it but | was going to ask if there was a
possibility for either the EPA or Blaylock to give us a similar presentation that they did to the neighborhood,
there was a neighborhood discussion maybe a year ago. Does that sound about right? | know Alderman
Tencza was there. But they got into a lot of specifics and it sounds like it would be nice for some of us to
get a refresher on sort of what the plan is. | kind of echo a lot of what has been said in terms of wanting a
refresher on what the plan is, sort of a little bit more detail around what that difference between what the
EPA is bringing forward and what the City would have to cover before really committing to any sort of
funding tax incremental finance district or anything like that.

Director Cummings

Thank you, Alderwoman Kelly. So just to be clear, the plan — so there’s a couple different plans. The one |
think you were just referencing is the plan that the EPA put out their EE/CA and their preferred alternative
in which they have, they have provided 3 or 4 scenarios and alternatives and then one rose to the top. And
that is the alternative that Blaylock Holdings would have to execute on. Now my understand is Blaylock
Holdings has represented that he can do it cheaper and that company can do it cheaper than the EPA so
there’s a cost savings there. And so we definitely need to have, | think, multiple conversations; one with
the EPA as suggested and | can ask them to come in and give a briefing similar to what they did with the
neighborhood and then that’s one plan. And then the question is, is do we want to move forward with the
Blaylock proposal or plan with the development to be able to execute on it.

| think the only way you are going to see movement if it is through this public/private type partnership
because the EPA has represented that if this goes the traditional route, this site would be lower on the list

compared to all of the other contaminated sites across the country. So that is one of the reasons why they
have this interest in pursuing this type of alternative.

Alderwoman Kelly
If | could follow-up, Alderman Wilshire?
President Wilshire

Alderwoman Kelly.

Special Board of Aldermen 03-15-2021 Page 12

Alderwoman Kelly

Yes, thank you. | mean | think it would be appropriate to hear from them again especially | wasn’t aware
that there was an alternative to the EPA doing it. | would like to know sort of what are the risks and again
the monitoring piece if the EPA isn’t the one executing their plan. So | definitely think more information is
key here. But! do believe that this neighborhood has waited a very long time to have this cleaned up and
we have quite a few community members who have been very vocal on this and | think we should prioritize
cleaning this up but making sure we are being safe about how we do it and fair about how we do it.
Because as one of the Aldermen before me said, ideally the company that made the mess would clean it
up but that company is no longer there and this is still a piece of our City.

President Wilshire
Next | have Alderman Schmidt?
Alderman Schmidt

Thank you, Madam President. This is such a complicated issue, all the puzzle pieces have to come
together at the right time and the right place that that piece of land is so valuable to this City. If we could
clean it, that’s a real benefit. If we could business in there, that’s another good benefit. | just have a
specific ask for Director Cummings. Could you gather all the data that we have on this project and put it in
one place where we can go and do our own research on it? | Know there’s some maps that were out there,
there were some plans that we could see. But | don’t have them all and | am not one of the newer people,
so the newer people don’t have any of them. It would be really, really nice to have access to them. Thank
you.

President Wilshire

Director Cummings?

Director Cummings

Yes so | am happy to try to put up what | have. What | want to make sure you are aware of though, the
EPA has a project for this specific site which in my Memo to the Board of Aldermen | included a link, which
if you were to click on that link, it has all the EPA-related documents consolidated on to one site. So | guess
| can look at trying to get City of Nashua and more specifically the Blaylock Representations out on the site.
Now as a reminder | haven’t been given a lot of this information that | have been asking for. So some just
came in recently on Friday to me. But this is live-time type stuff, hot off the press, as in | absolutely agree
with you. All the puzzle pieces need to fit together to make this work.

President Wilshire
Alderman Clemons?
Alderman Clemons

Thank you very much. As far as the monitoring, | wanted to make this point because I, and in regards to
the TIF and things like that, | don’t mind a TIF if we are going to do this correctly and we are going to do it
safely and the neighborhood is going to be protected and there is a clear, defined plan in place, not only for
how to encapsulate this, but how to monitor it, what we are looking for, and a remediation plan for the future
as well. In other words to set money aside for the future as sort of an insurance and in-case of and a set of
money that can’t be touched unless there is an issue that needs to be remediated and then that way that
money is there in the future so that we can quickly go and fix whatever problem may arise. Because it’s not
.... |do believe that there won't be an issue in the future, it’s just the way things work, right?

Special Board of Aldermen 03-15-2021 Page 13

The difference here is that you encapsulate asbestos and the asbestos starts to leak and it is granule stuff,
you can go dig down and re-capsulate it. This stuff is heavy metal, real bad stuff that if this starts to leak
out is going to really and has wreaked havoc. So | guess to reiterate my point is I’d like to see more of a
plan.

But also in regards to the private company being the one to monitor that, no way. Under no circumstances
would | agree to that. | don’t mind if they, in fact, | do agree that they should probably have to pay for the
monitoring but the City of Nashua should do that. Either the City of Nashua or the State of New Hampshire
should do that because we want to make sure that it is being done with the public interest in mind. And it is
no bad reputation on the company but we all know that corporations have their interests and the
Government has its interests. And our interest is to protect the environment and to protect the people that
are going to be living there and in that neighborhood. And under no circumstances should a non-
government agency be in charge of monitoring. So that to me is ... if that’s the only way forward then to me
that’s a non-starter. So | just wanted that on the record as well.

President Wilshire

Alderman Lopez?

Alderman Lopez

So similar to what Alderman Clemons had said, earlier it was stated that we were going to have to live with
this. We are not going to live with this, the people who are living there are going to have to live with this
and the people who are living on the site do. So | echo what Alderman Clemons is saying and | understand
where he is coming from because of his personal history. And those are the concerns that | am hearing
from the neighbors where we can’t have miscommunication, we can’t cut any corners, we need to make
sure that we aren’t just burying something and then hoping that it never rears its head, because of the
nature of it and because these neighborhoods have been burned before, literally burned. Like there has
been a fire which has deposited contaminants all over the site. So going back to what Alderman O’Brien
was probably referencing, even the surface level is going to have to be looked at and confirmed to be safe
if we start disturbing it and moving it around.

So this is a project where we need to be very, very conscious of public attention and public engagement
because there’s going to be a lot of questions and there is going to be a lot of concerns. And it’s not local,
neighborhood people who are coming out because they want to be involved. It is because they are
concerned about their homes and their family’s safety and how this is going to affect them. So | think it’s
very important that we improve our transparency and our communication, particularly. This project began
under somewhat of an inauspicious foot because there was miscommunication on the parts of the City as
to who the developers were, who even knew who the developers were, whether there were meetings or
whether there were parking lot encounters or whatever.

| think moving forward, especially if the Aldermen are going to have to be put in the situation of making
decisions about this, and now is our time. We need to have very clear communication on what is being
negotiated and what those terms are. Because | think in the past, it hasn’t been clear. | was actually under
the impression that several times it was stated that the City wouldn’t be using the TIF for clean-up costs at
all, we would be using it for infrastructure and that type of thing. And that’s important for the Aldermen to
consider because if we TIF the development for the tannery’s clean up and all that kind of stuff, it extends
the time in which we are not collecting any tax revenue. And we want to be conscious of that particularly if
we do start other development projects that are nearby that would give us tax revenue in order to offset the
expenses and really see that benefit.

All that being said, and again, in communication with the residents in the area, they really do want to see
this cleaned up. There’s going to be no development or tax revenue to be had if we don’t figure out a
solution out of 36 year old dilemma. So it is important for us to make this work. And that’s why | think

Special Board of Aldermen 03-15-2021 Page 14

communication is necessary because that will bring all of the players in alignment and all those puzzle
pieces — because you can’t put a puzzle together when you are blindfolded. So we need to be very clear
about what the communications are. | think Alderman Clemons made a great point about our own public
health, environmental health, being involved because | am not really confident that the State even, a 2-year
changing policy group of people is going to provide the kind of long-lasting, consistent attention to this that
our neighbors deserve. So | would like when we do get to any negotiations or discussions, to have it
discussed that our environment health department be either in charge of or involved in that process and
that that be funded by the property holders or taxes or whatever.

Another thing | wanted to bring to attention is the actual construction process. Those neighborhoods had a
very difficult time with other construction projects in the immediate area. They are very concerned about
heavy vehicle traffic on Fairmount Street or the increase of vehicle traffic should that street ever be used for
either the Tamposi Project or the developer's project. So those are things we need to be very conscious of
and mindful of. We should have explicit planning, possibly maps, you know, if Alderman Jette is going to
help us make this decision we should have maps clearly showing how things are going to be done there
and who it is going to affect so that we don’t run into years of unintended consequences coloring a project
which ultimately should be about cleaning up a neighborhood and providing access to an area of the City
that right now is not benefiting our residents. So | think there’s a lot of potential in this project for greatness,
but | think we are stakeholders to it as Aldermen, we need a very detailed understanding of what we are
actually being involved in and what is at stake. Thank you.

President Wilshire
Thank you. Alderman O’Brien?
Alderman O’Brien

Thank you, Madam President. Director Cummings and perhaps maybe the Mayor if you want to chime in. |
know it is way, way, way too early so let’s kind of talk about in a hypothetical. Right now, the City of
Nashua really is doing quite well with some of the bonding that we have done like in the past and
everything. We have paid off some of them and everything so we have a pretty good deal. And as the
current financing is sitting right now the bonding is looking pretty good and | just wonder if this is like one of
those projects where it would be a hand in glove to go with the bonding? And if that is the case, and it
looks like if we can get the principals of everybody involved kind of nailed down on this, can we get some
form of scheduling so that maybe we can look at the bonding? Because my greatest fear is | don’t have the
financial crystal ball, Mr. Mayor | don’t think you do and | know Mr. Cummings doesn’t. But in working with
Mr. Fredette, right now the current climate isn’t really that bad. So could we use that as a chip Mr.
Cummings in talking with the principals and everything to say that bring up the bonding issue, the
affordability of the bonding issues and different things like that to start to get some of the dates and
everything nailed down to make us a partner in this while the going is, right now would be considered
financially feasible?

Director Cummings

Thank you for the question Alderman O’Brien. | think you raise a really good point, you use the term
“partner” and that’s exactly what is being asked of us, is to become a financial partner. And | think like any
good financial partner, you need to do due diligence and understand how to underwrite the deal. At this
time, | can’t even begin to do that. Yes | do think we have the bonding capability but we also have a lot of
demands and we have a lot of needs as well. And so it is going to be a balancing act moving forward. And
| think we need to go slow on our end and really understand what it is that we are talking about and what it
is that we are committing to. So that’s my recommendation at this time. We need more information but |
really wanted to talk to you all tonight to just kind of get a sense of whether we really still wanted to have a
TIF on the table. It sounds as though yes, there’s a small appetite for a TIF still which | can continue to
represent. That’s what | am hearing and please, if | am hearing wrong, let me know. But Alderman Lopez
raised a really point and he’s correct. When this conversation first started 3 years ago, the idea is we

Special Board of Aldermen 03-15-2021 Page 15

wouldn’t even use a TIF for the environmental remediation. Now all deals change as time goes on and |
can tell you right now the thought process would be that some of those TIF dollars would go to the
environmental remediation. So if anyone has a concern about that, | would like to know that, because it’s
going to be important for us to be able to structure this deal to make forward.

Alderman O’Brien

Madam President, just an additional comment. If you are looking for support on the TIF, at this particular
time as presented to me, | will support a TIF. Thank you.

Mayor Donchess

The biggest demand we have in terms of bonding right now is, of course, the Middle School Project which
is $110 million plus is very significant. So | think that has to be our priority.

President Wilshire
Alderman Jette?
Alderman Jette

Thank you, Madam President. There have been a lot of good points made by my fellow Aldermen. Director
Cummings, on the one hand you tell us that there are a lot of unanswered questions and a lot of answers
that you have asked for that you haven’t received yet. On the other hand, you are asking for some kind of
sense of the Board as to what we would be in favor of. | think Alderman Tencza said it and that is that right
now there are just too many unanswered questions for us to give, at least for me, to give you any kind of
sense as to what | would be in favor of, you know, a TIF or anything else. | think we need more information.
| think the questions have to be answered, | think the questions you’ve asked have to be answered.

| know that some of the Aldermen have expressed concern about this property, the people who are
responsible for contaminating the property are not the ones being asked to pay for it. | am not sure what the
status of Chester Realty is; | think they went into bankruptcy but | am not sure. Is the Purchase & Sale
Agreement that the developer has, is it with Chester Realty, are they going to be getting any money out of
this? | think those are legitimate questions. The other thing is we have got a bad situation and it is not
going to get any better just by letting it sit there. | think remediation has to occur and what we have to
figure out is how do we best accomplish that? | think the EPA has told us that removing the contaminants
from the property which | think some of the neighbors would like is not something that they are going to
support because of the expense and the fact that when we move it from here it is going to go somewhere
else, as you pointed out.

| think the EPA’s seemed to have as many safeguards as is possible, nothing is 100% guaranteed. | am
concerned as the Mayor pointed out, the neighbors are uphill from this site if it migrates, it is going to
migrate down to the river, into the river. And then where is it going to go from there, downriver. So this
could be a very disastrous turn of events unless we do something about it. It sounds like we’ve got an
opportunity to do something about it. And | think working with this developer seems to be a reasonable
solution, but | want to make it clear to you that | am not ready to support anything until we have all the
information we need to make the best decision that we can. So thank you.

President Wilshire

Alderwoman Kelly?

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Alderwoman Kelly

Thank you. | have to echo what Alderman Jette said. | think that this has been a good discussion. | think
there’s a lot of questions that people on this Board have including some basic knowledge of where that
project has gone, even since the last non-Aldermanic conversation. | don’t know how | can say | support a
TIF when | don’t know what the plan is.

President Wilshire
Anyone else? Alderman Clemons?
Alderman Clemons

Yeah | concur with Alderwoman Kelly and Alderman Jette. This could be the plan forward but again, in
order to sell me at least, speaking for myself, | need to see a real solid plan that lays everything out all the
way into hundred years from now. And without that | can’t in good conscious, even though yeah it may be
better temporarily, | can’t in good conscious support something that | don’t have all the answers to. So yes,
| guess, a TIF — yeah it might be a good solution. But again, the devil is in the details and in this particular
project, details really matter. | am never one to shy away from jumping onboard with a development plan or
a really good idea but when it comes to stuff like this, it is people’s health and we have to be very careful.

President Wilshire

Alderman Lopez?

Alderman Lopez

| have a question through the Chair to Attorney Bolton.
President Wilshire

Sure.

Alderman Lopez

If we do approve a TIF or move forward in that direction, would we be able to contract stipulations for future
years including like the business holder would be willing to — do they even have to agree to the TIF first of
all? What is the point where we would want to insert a requirement for a property manager to contribute
something towards public health or some entity being able to evaluate this that the City has control over.
Or, alternatively, if it was the TIF and we were going to reserve taxpayer money in the future towards
environmental monitoring, what would that look like and how would you recommend it?

Steve Bolton, Corporation Counsel

Well right now, you are not approving any deal. You are not approving any TIF, you are not approving
anything tonight and frankly you are not approving anything or being asked to approve anything very soon.
This deal is not done. There is going to be a lot of tinkering, a lot of negotiations, before anything is
reduced to writing. So yes, can you require other things before you approve any deal? Yes, you can
require that the developer stand on his head in the middle of the parkway every April Fool’s Day. Itisa
completely open book at this point as far as what you can require.

Now your future monitoring, | fully expect, none of these deals happen without that being a requirement.
Now whether it goes on for 100 years, that | can’t say. But there will be monitoring out for a long period of
time in the future. It is not going to be done by the developer's custodian. It’s not going to be done by any

Special Board of Aldermen 03-15-2021 Page 17

of the City employees. It is going to be done by an environmental engineering firm who knows how to do it,
will take the readings from the monitoring wells that are installed pursuant to specifications that the EPA will
approve and then reports will be generated. It is very likely that copies of those reports will be provided to
the City, will be provided to DES, perhaps EPA as well, perhaps the Army Corp of Engineers. Those
reports will contain a certification by a qualified engineer, probably on a list of approved firms that the State
and Federal Government have vetted over the course of time. And that certification will provide that there
is no breach of the slurry walls, no leaks from the containment vault. And those will be monitored on a
periodic basis, perhaps as often as once a year. When there are problems, presumably the documents will
require that the developer or the developer’s successor in interest, has to provide for whatever necessary
repair or remediation is then required.

Now how do you provide for that going forward in perpetuity? Well if you’ve got a commercial facility that is
going to be passed from owner to owner of the entire complex and that facility will be generating a stream
of revenue extending out indefinitely, you somehow get a security interest in that stream and you use that
money to pay for whatever remediation is necessary. Now if you are talking about the property being sold
off to individual homeowners, condominium unit owners, there are ways to put these provisions in the
documents; the condominium declaration, the homeowner documents, reference them in the deed, upon
sale of any unit or any home. When a problem occurs the idea that you are going to take someone’s home
away if they don’t pay the $1,000.00 assessment, you know, if you have 300 homes and you assess each
$1,000.00 per year, perhaps you get $300,000.00 a year and maybe that goes to pay an appropriate
amount toward remediation, but we don’t know how much that is going to cost ever either. If someone just
can't afford it, are we really going to take their home away? So that’s one of the worries that you can have
today about what provision will you have for the financial viability in the event of something going wrong.

All of these things and that’s just one, but all of these things, have to be worked out, have to be the subject
of negotiation and that will happen. | mean there’s nothing for you to approve tonight. | think if any of you
feel like never under no circumstances will | ever approve a TIF, maybe you could say that, and if you
mean it, that'll give Tim some idea of stay away from that going forward. But there’s not point now in
saying “well | approve of TIF’s” or “I don’t approve of TIF’s” or “I want a TIF of X dollars, X percentage or Y
percentage”. We don’t know enough now to even have a clue of what kind of numbers we are talking of.
But anyway, long winded way to say you are not foreclosing yourself from anything you may want in the
future but anything you do tonight.

President Wilshire

Alderman Lopez?

Alderman Lopez

Yes, so | know | am in the meeting too and there’s no actual motion or anything being proposed. My
question was specifically what would it look like if we were to put those provisions in because we are
describing a very complicated endeavor that is only just getting off the ground, but which also has a little bit
of a history behind it of miscommunication and confusion. So should we be looking at the TIF as a
potential vehicle for mandating how that is done? Or would it be more likely some of the things that you
have referenced as possibilities, is when the developer figures out what he wants to do, do we look at if he
is subdividing it and selling it to people? Do we look a condo association or | mean is there other tools that
| haven't thought of such as does the property currently owe back taxes to the City or something that we
can use as leverage to say, “OK well you can resolve this debt if you agree to the following”?

Attorney Bolton

| don’t know the answer as to what the tax situation is, maybe Tim does. But | don’t think we are far
enough along to start saying tonight what we might agree to. | think we have to wait and see, at some point
they are going to say they want the City to contribute up to X dollars. Now if | was in one of your seats |
would say the City’s contribution is going to be somewhere between none and very small. And you can

Special Board of Aldermen 03-15-2021 Page 18

further define that as you go along. But | suspect the initial proposal to the City will be for more than we
really want to invest. And | think there will be a lot of pushback initially but eventually something will come
before you. | think the way to finance the City’s contribution over time, seems like it would be appropriate —
frankly whether you have a formal TIF or not, the thought process almost has to be the additional tax
revenue from the develoment will offset whatever the City’s expense has been. A TIF makes that even
more clear but whether it is expressed or not that has to be an underlying calculation.

Are there things you haven’t thought of yet? Probably. I’m sure there are things | haven't thought of yet.
There may be things that are possible that | never get around to thinking of, but | think | probably have
some better ideas going forward than | have tonight.

President Wilshire

Director Cummings?

Director Cummings

Thank you.

Alderman Lopez

| had a follow up.
President Wilshire

| think he can answer your question, sorry go ahead.

Director Cummings

Thank you, Madam President. If | may, there were a couple points made recently and | just want to circle
back to them. Relative to the back taxes on the property it is in and around $1 million owed to the City of
Nashua at this time, probably just a tick above that. Last time | looked it was just under so for general
purposes you can think of about $1 million dollars being owed. And, again, to be clear that is on the
Mohawk Tannery parcels. | know Alderman Lopez had another follow up. | can hold the rest of my
comments if he wants to speak.

Alderman Lopez

Yeah that’s helpful because my thought was if we are negotiating and one of those negotiations ends up
being how much are you going to pay now versus how much are going to pay later? It would be a good
idea to mention that this is a priority. Additionally, | know the TIF may be a solution for doing this which
ultimately is asking the property owner who is paying the taxes to not do anything, it is just ourselves
assigning where we are going to send the money to in the future. So | guess my last question or comment
on those lines would be to Attorney Bolton is how specific can we make Legislation for taxes? Can we
create a tax specific to that property or specific to properties that are associated with cleaning up a toxic
waste dump that the person who owns that property has to contribute towards a fund to do that as a tax for
owning that property?

Attorney Bolton

In a TIF you set the boundaries of the district. So you could be as specific as need be. And then the
principle is you establish what the taxes being paid prior to the establishment of the TIF and then anything
over and above that number is for lack of a better word the excess, that excess over existing tax revenue is
available to pay for public improvements. So public improvement might be the containment of the
contamination. And you can devote all of that excess tax revenue to that, you devote any percentage short