Bennett — Prescott, LLC
179 Amherst Street
Nashua, NH 03064
December 7, 2016
Mr. William McKinney
Building Official/Manager
Department of Building Safety
City of Nashua
Nashua, NH 03064
RE: Prescott Square Buildings A— B--C
Dear Mr. McKinney,
Please find this as our formal request for consideration of reassignment of prepaid fees for
permits issued related to 8uildings A — B — C at Prescott Square Condominium in accordance with the
City of Nashua Revised Ordinances Chapter 105: Building Construction, Article VI: Fees, Section 105-21
Permits and fees. B.
in October of 2007, Building Permits were issued for Buildings A— B ~ C to Bennett-Prescott, LLC
for the construction of 3 - 8 unit buildings. Also in October of 2007, Plumbing and Mechanical Permits
were issued for the same Buildings A — B—C. In June of 2008, Electrical Permits were also issued for
Buildings A- B—-C.
As most in the industry and beyond know, the financial collapse nationwide that took place in
the fall of 2008 crippled the Real Estate world and especially condominium projects. The result of those
conditions was that we were greatly impacted at this project in that we were forced to rent ten
completed units and halt active construction on these 3 - 8 unit buildings. For the past 8 % years, we
maintained the project to the extent that even irrigated lawns around these foundations were fertilized
and mowed and all related paved areas were kept free of snow during winter months. We have
maintained annual property tax payments of $20,000+ per year, $16,000 of which is allocated for the
improvements related to the subject 3 — 8 unit building foundations and utilities.
The point to this history is to help frame the base for this request, that for reasons beyond our
control we were forced to suspend the completion of the project until such time as construction
financing for condominium projects such as this became available and stable. We intend to begin
construction the first of January, 2017 and build all three buildings throughout the 2017 and early 2018
construction season.
