Board of Aldermen 12-11-2018 Page 28
Alderman Gidge
Alderman-at-Large and Alderman Clemons is correct, we do come to points he would know, we must
make a change, not to make it more expensive, but possibly to make it a little easier. The Mayor is
correct that | am on a State Board where we get one-half percent of $50 million dollars, these monies,
tax breaks being used everywhere except Nashua. Now this amount of money gets us from here to
here, which from $4 to potentially $6. We need a design anyway, this is the moment where | think
we’ve just got to go there is just too much involved in it.
Alderman Jette
So just to clarify, I’ve got the resolution in front of me, it says “no borrowing for the renovation or
construction of a new Performing Arts Center, no borrowing, except for costs related to acquiring and
securing for safety and security purposes the property anticipated to be used as a new Performing Arts
Center shall occur until such time as the Mayor has determined that private funds, totaling at least $4
million dollars to be used towards a portion of the operating costs of such new Performing Arts Center
have been raised”.
So if we took $1 million dollars and paid for an architect, we are not borrowing that money, we’ve got
surplus funds that we could use to do that after the $4 million is raised then you can borrow the $15.5
million and you can pay the City back the $1 million you spent on the architect.
Alderwoman Melizzi-Golja
Just to the point of putting it on the ballot, another piece that | have been told fits into this time line is
that the whole plan for going out for the New Market Tax Credits, that needs to be done soon. So by
putting that on the ballot we are also going to be delaying that. And some of you know and some of you
probably have not heard, that | have been concerned that we have not had the presentation about the
New Market Tax Credits. It was postponed a month ago because of Alderman McCarthy’s death but at
the same time, in October, when Mr. Cummings asked about it, he indicated that he felt it was really
important that we understand how the New Market Tax Credits are structured and, in fact, said that
sometime in October he wanted to meet with the Steering Committee and the consultant to talk about
an overview of how New Market Tax Credits are structured or an overview of how the program works.
and then in particular his, the consultant's recommendation on how this deal should be structured.
Later on in that same meeting Alderman Jette asked him to explain, asked Mr. Cummings to explain
about the New Market Tax Credits and President McCarthy replied “If we are going to have a
presentation from the Tax Credit Consultant, I’d rather do that there because it is a lengthy topic”. So |
think that some of our questions and our lack of understanding of time lines comes because we don’t
understand of this also and | think that once we have that presentation we will have a better sense of
those timelines and how all of this is working together. But all of that, again being said, there are those
other timelines operating in the background and we need to be aware of that so again the process can
move forward. Thank you.
Alderwoman Kelly
Thank you Madam President, | just wanted to talk a little bit about the people in the room, | know that
Alderman Lopez talked about it, that we have quite a full gallery there and | remember the last time that
happened | was actually on the other side of that barrier, | know some of us were as well. So | just
wanted to give a moment to talk about some of the things that were brought up from the people in these
seats who have come out to be part of the democracy and | think that is hearing their voices.
Andrew talked about his daughter and wanting her to grow up in a City that was vibrant; that he owned
a business. And Lotman talked about the potential of Nashua. | think Michael Buckley has such a
succinct point when he said that he talks to his employees he says the best way to get something done
