Relocation and Displacement
The City of Nashua will work to minimize the impacts of relocation for any residents or businesses within
the District boundary. All relocation and dislocation activities will be in conformance with RSA 162-K,
Section 6 and 15. Prior to the final acquisition of any property that is part of a specific TIF project and
which would involve persons displaced by the project, a Relocation Plan will be prepared and submitted
to the Administrator for review and approval. A copy of this plan will also be submitted to the Advisory
Board for comment.
Operations and Maintenance of the District
The added cost for operation and maintenance [O & M] associated with the specific design of a TIF
project will be part of the proposal package presented to the Board of Aldermen. The City will make
every effort to minimize added O & M costs. If significant added O & Mcosts are identified, then, at the
discretion of the Administrator funding of O & M costs may be part of the TIF Financing plan.
One of the goals, which is of the utmost importance is that no additional O & M be placed on the city's
general budget.
Estimated Costs of the Development Program
Due to the fact that the Nashua is utilizing a project-specific approval process, it is not possible to
provide estimates at this time for a development program. Any TIF project presented to the Board must
include a complete cost estimate.
What is known is that the Nashua Performing Arts Center Feasibility Study is acting as a guiding
document. This project is well underway with a total project cost of $25.0 million. There are a few
identified sources of funds, but a gap of approximately $6.0 million, which TIF funds could be used.
Additionally, attached in Appendix E is a technical memo outlining the costs for the proposed parking to
be included into the School Street Apartment project.
It should be noted, that the above are two known projects that were the impetuous for the
development of this TIF. Over the coming yearsif a new project is proposed a full cost estimate will be
included and understood.
Funding Sources
The City of Nashua intends to use multiple funding sources to complete the proposed work associated
with any TIF project. Without question, a comprehensive revitalization program needs to utilize a broad
range of funding sources or support mechanisms.
Examples include:
¢ Community Development Block Grant programs (CDBG)
e USDA Rural Development Grants
e NHDESFinancial Assistance Water or Wastewater Grant programs
e New Market Tax Credits
e = Historic Tax Credits
e¢ Community Development Finance Authority programs
