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  2. Finance Committee - Agenda - 8/17/2016 - P55

Finance Committee - Agenda - 8/17/2016 - P55

By dnadmin on Mon, 11/07/2022 - 09:50
Document Date
Wed, 08/17/2016 - 00:00
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 08/17/2016 - 00:00
Page Number
55
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__081720…

Outlined Options:

1. Partner with a college or university on the development of a new downtown arts center
2. Develop a downtown meeting, events, and music center
3. Develop an arts district

* Phaze I cost $22,500 and has been completed and the budget has been 100%
expended

Development of a Phase IT Scope

Director Sarah Marchant and I received a draft scope of work from Duncan Webb (General
Performing Art Center Consultant) and Scott Aquilina (Architect for the project) for a phase
Tl project:

>» Itincludes developing a business plan (operating projections), cost estimates for

implementing a program (capital expenses), basic physical plans. (Please see attached).

Outstanding Issues

Financial -- Capital Requirements/Expenditures ~ A clear understanding of the capital
expense and investment in such an asset should be understood with an associated order of
magnitude

Vision for operational Management — Understanding the operational costs associated
with this project needs to be understood with the a clear understanding of a vision of how
this asset will be managed

Setting Aside Keefe Auditorium ~ A clear directive that setting aside Keefe Auditorium
is the desire due to the lack of control (should this variable change we could adjust
accordingly, but as of now I want to ensure it is clear whether Keefe should be studied or
not)

Citizen Engagement ~ There will be a need to develop a small working group to help
steer the conversation and make a recommendation back to you.

Understanding an additional $27,000 will be necessary to execute Phase II (which
Downtown Improvements Committee has approved $25,000 for this project as a funding
source for this project)

Page Image
Finance Committee - Agenda - 8/17/2016 - P55

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