Board of Aldermen 2-06-2020 Page 13
Lou Jeris Good evening everyone, Lou Jeris here at from Haines Street in Nashua. Much like Jim had said
earlier, this project will be another lynch pin in bringing more development to downtown. You know things are
changing, people are moving to more urban centers now. In order for this to happen and to happen
successfully like the previous speaker said, this amendment needs to happen so we can keep the fundraising
momentum going. And blowing the cover is probably not a wise thing. Again, you are seeing some changes, it
is going to make some people uncomfortable, some of these votes need a little bit more courage than other
votes. You are going to have some people talk later, but it’s going to be the usual, the throwing of the wet
blanket over — you know — why are we doing this? Why don’t we sell it? We don’t understand, you know, it’s
too risky. Again, there’s much of an upside to this and the Committee is doing a good job. We'd like to see it
happen faster, so we are this stage now where we have to make adjustments in order to have this effort move
forward and to see it come to fruition. Thank you.
Fred Teeboom | live at 24 Cheyenne Drive and | am in favor of this particular amendment. It’s the second
amendment and what this amendment does is it eliminates the two year restriction of raising $4 million dollars.
| thought when it initially came out and | think Clemons had something to do it with it wasn’t really based on
fact. It just came out on a moments notice, there were no facts behind it. So eliminating these two years
makes a lot of sense. On the other hand | have concerns and I'll come back on the negative side for the
concerns | have. But just on this question, | have two questions, this being a public hearing. First of all to the
fundraiser, the question is when an organization makes a pledge, as they do in this quiet phase, is that pledge
cash? Can they renege on the pledge, can they put conditions on the pledge, like you’ve got to raise $1 million
before my pledge comes through. Exactly what are the conditions of these pledges that you talk about?
Chairman Dowd
Ms. Novotny would you like to answer that?
Ms. Novotny
| would, thank you Mr. Teeboom. Our pledge, if you are making you can write a check up front, you can pledge
over 5 years, we will bill you every year. As far as any conditions on it, if the Performing Arts Center, so all of
these funds are being held strictly for the Performing Arts Center, and if it doesn’t come to fruition, the pledgers
will get their money back and that’s the only way.
Mr. Teeboom OK | know a lot about fundraising, | helped build the Holocaust Memorial, and | raised well over
half a million dollars. There were two lots of donors, | was one and somebody else came up with over
$25,000.00 as well. The rest was all small money, many people here donated, | know Mayor Donchess has a
brick. So | know a lot about fund raising. But the pledge does not necessarily mean cash in the bank. So what
happens when you reach your $2 million dollars and find out people reneged and they don’t produce? Do they
sign an oath? They sign an affirmation? Exactly how do you collect on the pledge that isn’t making good, that
is my question.
Ms. Novotny
All of the people who are pledging donations are signing an agreement.
Mr. Teeboom The sign an agreement? That's legally binding?
Ms. Novotny
Well it’s an agreement, yes. Could someone renege? But typically when you are making a donation to a
nonprofit for something most people it doesn’t happen.
Mr. Teeboom Alright, final question.
