Board of Aldermen 12-11-2018 Page 32
The City has to qualify to get them; we get authorized by the US Treasury to essentially provide donors
with these credits. In order to be eligible to do that you have to go through a whole process. You’ve got
to be in the right census track which is depressed; you’ve got to have a program that is intended to
address issues in that census track and stimulate the economy.
We believe that we will meet all those credentials and from our expert up in Portland, Maine, so it was
with consultation with bond counsel and the Portland attorney who has been through this dozens of
times, that the specific reference to New Market Tax Credits was in there. The specific unfettering that
from our requirement to pay future operating expenses was detached because the intention | gather is
to spend the money on actually doing the construction as opposed to setting it aside in some sort of
endowment. Whatever the reason the Federal Government determined that to be a requirement, we
were trying to make sure we fit in there. But! do not think there is any reason, | think there is good
reason not to take the reference for New Market Tax Credits out and | think there is no reason to add
the State Agency in at this point.
Alderman Jette
Thank you.
Alderman Dowd
| am not going to make a motion to move the question but | think we are going around in circles and |
would hope that we can take a vote and go from there.
A viva voce roll call was taken which resulted as follows:
Yea: Ald. O’Brien, Ald. Gidge, Ald. Harriott-Gathright
Ald. Dowd, Ald. Klee, Ald. Laws
Ald. Lopez, Ald. Kelly
Ald. Melizzi-Golja, Ald. Tencza
Ald. Schmidt, Ald. Wilshire 12
Nay: Ald. Caron, Ald. Jette 2
MOTION CARRIED
Resolution R-18-092 declared duly adopted.
R-18-094
Endorser: Alderman Richard A. Dowd
APPROVING THE COST ITEMS OF A COLLECTIVE BARGAINING AGREEMENT
BETWEEN THE NASHUA BOARD OF EDUCATION AND THE NASHUA TEACHERS’
UNION, LOCAL 1044, AFT, AFL-CIO, UNIT C, SECRETARIES FROM JULY 1, 2018
THROUGH JUNE 30, 2022 AND RELATED TRANSFER
Given its second reading;
MOTION BY ALDERMAN DOWD FOR FINAL PASSAGE OF R-18-094
MOTION CARRIED
Resolution R-18-094 declared duly adopted.
