REPORT SUMMARY
The campaign committee work group of the Performing
Arts Center Steering Committee has a high level of
confidence in securing approximately $6.5 million in
private sector funding: $4 million in private sector funding
to serve as an endowment and $2.5 million to support
construction and fit up of the Performing Arts Center.
Projected sources of private sector funding are:
Approximately $4 million - Proceeds of the sale of New
Market Tax Credits to private businesses
New Market Tax Credits (NMTC) are being pursued by City
staff. A letter from the consultant hired by the City of
Nashua to secure and sell New Market Tax Credits is
attached.
Approximately $2.5 million - Capital Campaign seeking
private charitable contributions from individuals,
The work group has a high
level of confidence that
the project will secure
approximately $6.5 million
in private sector funding: a
projected $2.5 million
through private charitable
contributions and CDFA
tax credits; and, a
projected $4 million from
the sale of New Market
Tax Credits.
foundations, and corporations along with the sale of NH Community Development
Finance Authority (CDFA) Tax Credits to area businesses.
This report focuses on the feasibility of a $2.5 million capital campaign in support of the
Performing Arts Center.
FEASIBILITY STUDY PROCESS
Overall planning for the Performing Arts Center is being conducted by three work groups
of volunteers: Operations, Design, and Capital Campaign. These work groups are
currently staffed by Tim Cummings, Director of Economic Development until the
formation of the planned private nonprofit organization.
The feasibility study is under the purview of the Capital Campaign work group, which is
led by:
e Judith Carlson, Nashua Arts Commission;
e Marylou Blaisdell, Downtown Improvement Committee and small business owner;
e Tracy Hall, President/CEO, Nashua Chamber of Commerce; and,
e Patricia Klee, Member of the Board of Aldermen.
In partnership with this work group, Full Circle Consulting developed a case for support
brochure and supporting materials that tell the story of why a Nashua Performing Arts
Center is worthy of private charitable support.
Full Circle Consulting|www.fullcirclenh.com|
