Dr ummec 1 i * John S. Kaminski 207.253.0561
ATTORNE A
YS AT LAW 84 Marginal Way, Suite 600
Portland, Maine 04101-2480
207.772.1941 Main
207.772.3627 Fax
April 17, 2019
VIA EMAIL ONLY
Celia Leonard, Esq.
Deputy Corporation Counsel
City of Nashua
229 Main Street
Nashua, NH 03060
Re: Performing Arts Center
Dear Celia:
J am writing as special New Markets Tax Credit (“NMTC”) legal counsel to the City for the
Performing Arts Center project (“PAC”) to recommend some initial actions to be taken by the
City.
The financial structure of NMTC transactions requires that the sponsoring entity, the City in this
case, form one or more affiliated single purpose legal entities. The specific roles that these
entities will serve in the financing structure will be determined in coordination with the funders
and their legal counsel.
As we have discussed, readiness to proceed is critical in receiving an allocation of NMTC. I also
understand that the City wants to close the financing as soon as possible later this year and
commence construction. For these reasons, we recommend that the City form two new voluntary
corporations under New Hampshire law now so that these legal entities are available for the
NMTC financial structure as soon as possible.
I understand that New Hampshire law requires that five individuals act to form each voluntary
corporation. It would be very helpful if any municipal action required to name the five
individuals for each of the corporations be taken as soon as possible so that the formation of the
corporations can be completed.
Please let me know if you or others at the City have any questions.
Yours truly, 4.
4G Kaminski
800.727.1941 | dwmlaw.com
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