Board of Aldermen 03-09-2021 Page 9
R-21-116
Endorsers: Mayor Jim Donchess
Alderman Patricia Klee
Alderman Thomas Lopez
Alderman Jan Schmidt
Alderman-at-Large Michael B. O’Brien, Sr.
Alderman-at-Large Ben Clemons
Alderman-at-Large Brandon Michael Laws
Alderman Linda Harriott-Gathright
Alderman Lori Wilshire
ESTABLISHING AN EXPENDABLE TRUST FUND FOR APPROPRIATIONS FOR THE BUSINESS
AND INDUSTRIAL DEVELOPMENT AUTHORITY
Given its second reading;
MOTION BY ALDERMAN SCHMIDT FOR FINAL PASSAGE OF R-21-116, BY ROLL CALL
ON THE QUESTION
Alderman Schmidt
And I'd like to speak the Resolution.
President Wilshire
Alderman Schmidt?
Alderman Schmidt
Thank you. The Mayor was talking earlier about when the Business Industrial Development Authority had first
started this project. The Bridge Street Water Front Development Preferred Develooment Agreement for sale of
land and private development was dated May 21, 2009. That’s how long they have been working on building
out this corner of Nashua. | just wanted to say that | have been working with them for a couple of terms and |
know that now they’ve finished that project they are ready to get started on something new. So | hope
everyone will join me in accepting this Resolution. Thank you.
President Wilshire
Thank you. Anyone else; the motion is for final passage of Resolution 21-116. Alderman Jette?
Alderman Jette
Thank you, Madam President. So we had a discussion about this at the Budget Review Committee Meeting
and | reminded my fellow committee members that this project, this is called the Renaissance Apartments |
think, ’'m not sure exactly the name, but it is the area along Bridge Street between the river and the Amory
Street, the area of Sanders Street area. And originally the developer anticipated being able to acquire some
additional land owned by another land owner and that deal never came through. So the developer felt that in
order to make this whole project viable for his purposes, they needed to be able to develop additional housing
and be able to sell more, either sell or rent more units.
Originally there’s a lot that used to be owned by John Mansville that is on the corner of Bridge and Sanders
Streets. Originally the developer was going to develop that as a recreational lot or maybe a soccer field or
something similar. And when he couldn’t acquire the additional land that he anticipated, a proposal was made
to acquire that land and the land across Sanders Street that was owned by the City to be able to build
additional housing on those parcels and part of the agreement was the developer would pay the City
$775,000.00 in lieu of developing that athletic field. So when this was brought before us, you know this change
