Conformance with District Limitations per RSA 162-K:5
The size of the district is 1.63 acres. The City of Nashua has a total of 19,712 acres. Therefore the
district represents significantly less than the 5% maximum of the total City acreage per RSA 162-
K:5.1.
The total assessed value [as of April 1, 2020] of all taxable property within the TIF boundary is
55,007,000 or less than half a percent of the total of all taxable property within the City. Per RSA
162-K:5.Il the properties within the TIF represent significantly less than the 8% maximum
allowable of the total assessed value demonstrating conformance.
Proposed Improvements
The 2003 Downtown Master Plan highlights a broad range of concepts and recommendations that can
facilitate economic revitalization for specific properties and calls out certain areas where there could be
a transformative development catalytic for the area, which would reinvigorate the blighted area(s). The
plan contemplates specific improvements as well as articulating broad-based themes. It is the belief of
the that the best TIF plan is one which does not lock the City into a defined list of specific projects; re-
development goalsor the infrastructure needs of the City, because they can shift with changing
markets, or asa result of different land uses that might be proposed for a specific property. However,
the design framework outlined in the 2003 Downtown Master Plan is very applicable and will be used as
a guide. Ultimately, being flexible towards what potential TIF projects might work at a certaintime will
provide for the best utilization of TIF funds, which are, at the end of the day, the incremental tax
revenues paid by the TIF District. Again, the 2003 Downtown Master Plan is a guiding document, please
see Appendix B.
The 2015 Downtown Circulation Study, please see Appendix C is another document that provides
additional guidance on how the circulation and flow of traffic could improve with broad based
improvements to the downtown area. Ultimately, the 2015 Downtown Circulation Study attempts to
better connect Main Street to the Broad Street Parkway with ancillary improvements suggested to
create a better downtown environment.
Finally, The Performing Arts Feasibility Study, please see Appendix D, which outlines the City’s overall
vison to have a 750 seat flexible venue in the heart of downtown to help revitalize the city.
There is a broad framework of projects that could provide for enhanced revitalization efforts; examples
include, but are not limited to, the following:
e = Infrastructure improvements [sidewalk/crosswalks/utility upgrades and relocation] that allow
for better utilization of property in the District; or stormwater drainage upgrades that will
provide for enhanced protection of the Nashua River;
e The construction of, or improvements to, public spaces that will create better links between
city residents and visitors to the downtown, which is important to our City's economic history
and cultural fabric;
e Construction of a Performing Arts Center;
e Open spaces introduced in strategic locations to support a mixed use environment and provide
good urban design benefits.
