A special meeting of the Board of Aldermen and the Performing Arts Center Steering Committee was held
Monday, October 29, 2018, at 7:00 p.m. in the City Hall Auditorium.
President Brian S. McCarthy presided; City Clerk Patricia D. Piecuch recorded.
Prayer was offered by City Clerk Patricia D. Piecuch; Alderwoman-at-Large Shoshanna Kelly led in the Pledge
to the Flag.
The roll call was taken with 15 members of the Board of Aldermen present.
The roll call was taken with 8 members of the Performing Steering Committee present.
Lindsay Rinaldi, Marylou Blaisdell and Tina Cassidy were recorded absent.
Mayor James W. Donchess was also in attendance.
COMMUNICATIONS
From: Brian S. McCarthy, President, Board of Aldermen
Re: Special Board of Aldermen Meeting
There being no objection, President McCarthy accepted the communication and placed it on file.
PRESENTATION
Full Circle Consulting presentation on Performing Arts Center fundraising efforts.
Tim Cummings, Director of Economic Development
To the Board of Alderman and Performing Arts Center Steering Committee, for the record my name is Tim
Cummings and | am the Director of Economic Development for the City. | wanted to just start the conversation
this evening to help create a preface or an orientation to help guide and facilitate the communication that we
will this evening.
The goal originally as we were starting this presentation is to try to create an informal dialogue. | know that
doesn’t really lend itself too well when you have this many people around the table but we are trying to create a
roundtable type of discussion and try to keep it as casual as possible.
Betsy McNamara of Full Circle Consulting will hit on two prompts this evening; one will be a general overview
of Capital Campaigns and how they work in terms of best practices and then also speak more about the
feasibility study that we recently executed here this summer. Again, thank you for having us this evening and
with that being said | will turn it over to Betsy.
Betsy McNamara, Principal — Full Circle Consulting
Thank you for having me. So actually | am going to do that in the reverse order Tim, | am going to start with
the results of the feasibility study and tell you a little bit about how that went and then | am going to talk a little
bit about capital campaigns and how they typically run. Then we thought we would just open it up for
questions, ok? | think the Board of Aldermen has received a report on this feasibility study so this is right from
the report that you have already received that the summary of the feasibility study is that the capital campaign
work group has a high level of confidence that the project will secure approximately $6.5 million dollars; and
that is $4 million dollars from New Market Tax Credits and $2.5 million dollars from a capital campaign that will
encompass private charitable contributions as well as contributions made to the project through NH
Community Development Finance Authority Tax Credits.
