® Cheshire County Courthouse {$10,400,955}, This project was a major
Pricrity of the CDE {New Hampshire Business Finance Authority) due to
the threat of the Courthouse moving out of downtown Keene. However,
local project proponents had made no progress — after more than a year
of trying — to move the project forward. As a Consultant to the CDE, Mr.
Cannon was tasked with finding creative solutions. That solution
included a unique (at the time) deal structure that allowed General
Obligation/TIF bonds to flow through the model as a part of a multi-
sourced Leverage Loan. In addition, we made the City the Master Tenant,
thus allowing the bonds to preserve their "public purpose" and creating a
vehicle for "rebating" property taxes. The project financing closed in 2013
and construction has been completed.
b, List of Clients/Services Provided. Please see EXHIBIT A for list of NMTC clients
and services and EXHIBIT B for general background and experience.
fing/Fee/Expense
a. Method for Conducting Services. The key elements to providing the requested
services are communications, education, and coordination. More specifically,
the Consultant plans to communicate on a regular basis with the City staff and
other stakeholders In order to provide updates on project progress and receive
necessary Input. Moreover, the Consultant will brief stakeholders on the deal
structure as the process evalves. Methoc’s of communications can include 1:1
and group meetings, teleconferences, and e-mail updates. Consultant will rely
on City staff to identify appropriate stakeholders.
Consultant recognizes that the method of financing the Performing Arts Center
may put a significant amount (515,000,000 +/-} “at risk”. Moreover, the
intricacies of NMTC deal structuring are often difficult to grasp. Therefore, there
is a need to educate stakeholders and public officials about the NMTC program
and how it, in this case, it will ameliorate City risk and reduce final costs. To that
end, Consultant will be available to attend workshops and public hearings and
prepare and present materials that explain project details in a Straightforward
manner.
Finally, the Consultant will coordinate the activities of the City “team” working
on the project. This will probably take the form of weekly teleconferences or
visits with appropriate City staff as well as the applicant entity (to be formed).
