Bennett — Prescoti, LLC
1479 Arnherst Street
Mashua, NH 03064
December 7, 2016
Mir. William McKinney
Building Oificial/Manager
Department of Building Safety
City of Nashua
Nashua, NH 03061
RE: Prescott Square Buiidings A- B-¢
Dear Mr. McKinney,
Please find this as our formal request for consideration of reassignment of prepaid fees for
permits issued related to Buildings 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 Benneti-Prescott, LLC
for the construction of 3 - 8 unit buiidings. Also in Gctober of 2007, Plumbing and Mechanical Permits
were issued for the same Buildings A-— 6B —C. In June of 2008, Electrical Permits were also issued for
Buildings A-B—C.
As most in thie industry end beyond know, tie financial collapse nationwide that took place in
the fall of 2008 crippled the Real Estate worid 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
compieted units and halt active construction on these 3 - 8 unit buildings. For the past 8 % years, we
maintained the project to the extent thai even irrigated lawns around these foundations were fertilized
and mowed and all related paved areas were kepi free of snow during winter months. We have
maintained annual property tax paymenis of $20,000+ per year, $16,000 of witich is allocated for the
improvements related to the subject 3 — 8 unit building foundations and utilities.
The point to this history is to nelp frame the base for this requesi, 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
construciion the first of january, 2017 and build all three buildings throughout the 2017 and early 2018
construction season.
