26, Mascoma
Oe? COMMUNITY
DEVELOPMENT
PROJECT NAME
EXECUTIVE SUMMARY TERM SHEET
DATE: October 14, 2020
This non-binding executive summary term sheet summarizes the principal terms and conditions
with respect to a potential Qualified Equity Investment (“QEI”) into Subsidiary Community
Development Entities (“Sub-CDE”) and its subsequent Qualified Low-Income Community
investment (“QLICI”’) in 201 Main Street Real Estate Corp a Qualified Active Low-Income
Community Business (“QALICB”).
This confidential term sheet: (1) is not comprehensive and does not constitute a binding
document or obligation with respect to any party, except for the obligation of the Project
Sponsor and QALICB to pay the legal and accounting fees and expenses as described in the
“Transaction Costs” and “Initial Deposit” sections of this Term Sheet, along with the
requirements in the “Exclusivity” and “Confidentiality” sections; (2) does not constitute an offer
to sell or purchase securities; (3) contains estimated values only; (4) is subject to negotiations
between a New Markets Tax Credit Investor acceptable to all parties, Mascoma Community
Development, LLC (“MCD”), and the Sponsor, and (5) is contingent on the approval of
Mascoma Community Development's Advisory Board expected by October 30, 2020) and
Community Investment Committee (expected on November 12, 2020).
Project The Nashua Performing Arts Center, Sponsored by the City of Nashua, New
Sponsor: Hampshire (“NPAC” or “Sponsor”)
Project The project involves the adaptive re-use of two buildings on one property for a
Information: | performing arts center and multi-purpose community facility (the “Project”).
The property is located in the Central Business District of Nashua, New
Hampshire.
Borrower/ 201 Main Street Real Estate Corp, a new, Nonprofit Special Purpose Entity
QALICB: (SPE), which will own the Project and lease to a Master Tenant, the City of
Nashua.
CDE Lender: | MCD Subsidiary CDE 14, LLC (the “CDE Lender”)
NMTC Mascoma Bank (the “Investor”).
Investor:
pivestiment A special purpose entity “SPE” owned by the Investor (the “Fund”).
und;
NMTC Mascoma Community Development, LLC: $9,750,000, which the CDE Lender
Allocation: reserves the right to “pre-fund” the associated QEI related to the Project in its
sole discretion,
MCD/NPAC Term Sheet I
Printed on Recycled Paper
