Education Local 52.13
Education State $1.15
Total | $21.76
The estimated impact of tax increment financing on the assessed values of all other taxing jurisdictions
within the City of Nashua is negligible, since the proposed improvements are designed to encourage
commercial investment and lessen the residential tax burden. Thus, these activities will contribute toa
long-term increase in the non-residential tax base at a faster rate than would otherwise be achieved.
Over the next five years there is a potential aggregate figure approximately $500,000 of new tax dollars
on the horizon.
Plan Amendments
Pursuant to RSA 162-K:9, this plan may be amended by a vote of Board of Aldermen in conformance
with all applicable time frames and notice requirements. As discussed previously, each specific TIF
project will be brought forward to the Board of Aldermen for review and approval, thus there will be
future amendments to this TIP Plan.
Duration of Program
The TIF District will exist until all improvements or projects approved bythe Board of Aldermen
have been completed, and all debt issued and borrowing initiated to fund the projects is retired.
The Board of Aldermen will consider the recommendations by the Administrator regarding the proposed
expiration of the TIF Plan and District along with amendments. The Board of Aldermen reserves the
right to evaluate the TIF Plan every year following its adoption, and make any necessary modifications to
the Plan to ensure that all goals and objectives are being met.
Upon full repayment of any outstanding bonds, all TIF Account Funds maybe available for all District
purposes, as outlined in, and approved by the Board of Aldermen as part of any modification tothis
Plan. The Annual Report prepared by the Administrator may recommend that a certain percentage of
the tax increments may be returned to the City for general fund purposes, and Board of Aldermen
approval for that allotment shall not be subject to a formal modification and public hearing process.
Apportionment of Captured Assessed Value
Pursuant to RSA 162-K:10 (a) this plan designates up to 100% of the captured assessed value will be
dedicated for retirement of bonds and notes with a de-minimis portion going toward operations or
further development of the tax increment financing district. This plan allows for the project to outline
specifically how the TIF funds are used when presented for approval.
TIF District Administration
The City Economic Development Director shall be the Administrator of the District and act in with RSA
162-K:13, which prescribe the following duties and powers granted tothe City Economic Development
Director and it is generallyunderstood the Administrator shall have the following powers:
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