Finance Committee - 2/20/2019 Page 2
NEW BUSINESS - RESOLUTIONS
R-19-110
Endorser: Mayor Jim Donchess
AUTHORIZING THE CITY OF NASHUA TO ENTER INTO A LEASE AGREEMENT WITH MAKEIT
LABS, CORP. FOR 25 CROWN STREET
MOTION BY ALDERWOMAN KELLY TO RECOMMEND FINAL PASSAGE
ON THE QUESTION
Alderman O’Brien
On R-19-110 this is reauthorizing in a way or is this something new with Make IT Labs, because | know that
they do exist at 25 Crown Street. It is a wonderful place to go and everything, it is quite amazing. It is re-
upping?
Mayor Donchess
It is re-upping but they have put a lot of money into the building so the rent has been reduced to compensate
for that. They are making a lot of improvements, the whole eastern wing kind of. They are upgrading into
office and kind of office space and spaces for people who want to try to start more or have more intellectual
property type businesses as opposed to physical manufacturing or make-it type projects.
Alderman O’Brien
Thank you Mr. Mayor. | know going there when they were doing the sculptures and everything, the wife and |
did go down there and it was very nice to see all the sculptures at work and using the Make IT Lab facilities as
well.
Alderwoman Kelly
Just a point of order | wanted to point out that Alderman Harriott-Gathright has joined us.
Mayor Donchess
Yes, Alderwoman Harriot Gathright is here. Any other discussion.
Alderman Caron
Yes just to clarify, wasn’t their rent basically what it would cost for property taxes or the equivalent of on that
facility?
Mayor Donchess
| think it was but this reduces it to almost, it is nominal rent at this point, this would be, this is about $160.00 a
month although it is calculated on a square footage basis, but it is $.08 a square foot. But in discussions
between Economic Development and the Legal Department and Make IT Labs, you know, they made the case
— we’ve invested thousands of dollars in the building, a city-owned building. They have moved, they have
taken a building that was really in bad shape, upgraded the main part of the building, now are upgrading the
wing and in the end the City will own a more valuable building.
