Board Of Aldermen - Minutes - 5/20/2019 - P24

What Does R-19-136 Do?

¢ Authorizes the City to form up to two (2) voluntary, nonprofit corporations
under the provision of RSA 162-G and pursuant to RSA 162-G:15 ordains
these two new entities as public corporations.

Why is this Important

¢ The City of Nashua cannot directly participate in the NMTC transaction as a
QALICB. Furthermore, the industry prefers municipal corporations to not
be the Senior Leverage Lender.

¢ We are doing this now in an effort to be in a good position to act
expediently. Community Development Entities (“CDEs”) want to be able to
move quickly and place their NMTC allocations. Project readiness is a key
factor in being an attractive project.