Minutes

Board of Aldermen 09-22-2020 Page 6

Board of Aldermen 09-22-2020 Page 5

Board of Aldermen 09-22-2020 Page 4

Board of Aldermen 09-22-2020 Page 3
Alderman Cleaver

rm here and | am practicing social distancing, my daughter is with me.

Alderman Harriott-Gathright

| am present, | am in this room alone, |am practicing social distancing and | can hear you.
President Wilshire

| am here, |am alone and! am practicing social distancing. Also with us this evening is — fm sorry Madam
Clerk, | didn’t mean to interrupt.

Susan Lovering, City Clerk
You have 15 in attendance.
President Wilshire

Thank you very much.

Ms. Lovering

Board of Aldermen 09-22-2020 Page 2

Alderwoman Elizabeth Lu, Alderman Ernest Jette, Alderman Jan Schmidt, Alderman Brandon Michael
Laws, Alderman Skip Cleaver, Alderman Linda Harriott-Gathnght, Alderman Wilshire.

Mayor James W. Donchess, Corporation Counsel Steven A. Bolton, were also in attendance.
Alderman O’Brien

| am present, | can hear the proceedings and | am alone.

Alderman Klee

| am present, | can hear the proceedings, | am alone and | am home due to (audio cuts out) distancing.
Alderwoman Kelly

A regular meeting of the Board of Aldermen was held Tuesday, September 22, 2020, at 7:30 p.m. via
teleconference.

President Lori Wilshire presided; City Clerk Susan Lovering recorded.

Prayer was offered by City Clerk Susan Lovering; Alderman-at-Large Michael B. O’Brien, Sr. led in the
Pledge to the Flag.

President Wilshire

NMTC Update

e Mascoma Community Development has given us a verbal commitment of
approximately $2.8 million, which translates into approximately $2.5 million
e This commitment is conditioned upon closing the transaction this year.

Overall Financing Plan

Sources
Nashua Bond Proceeds $15.50
TIF Bond Proceeds $ 5.50
Local Capital Campaign $ 1.60 $4.0 million
New Market Tax Credit $ 2.40
$25.0 million
Sources

Fundraising Update

The Capital Campaign Committee has been working diligently despite the
tough times we are in they are able to report:

Raised to Date: $1,523,00 64% of the goal raised!

Ready to Go Public Now! (to get to $2.5 million)

PERFORMING ARTS CENTER
OVERALL PROJECT STATUS UPDATE

September 28, 2020

Design
e The design is complete!
Over summer, the design was finished and 100% of Construction
Documents were transmitted to Harvey for cost estimates.

Cost Estimates
e Harvey has not just estimated, but has secured bids
Bids were due just last week and they are currently being evaluated and
refined.
e Total Project Cost is just under $25.0 million
e Weare on track to make our target budget of $15.8 million

Special Board of Aldermen 09-28-2020 Page 29

Testimony in Favor - None
Testimony in Opposition - None
Testimony in Favor - None

Testimony in Opposition - None

President Wilshire closed the public hearings on R-20-071 and O-20-030 at 8:47 p.m.

ADJOURNMENT

MOTION BY ALDERMAN O’BRIEN TO ADJOURN, BY ROLL CALL

A viva voce roll call was taken which resulted as follows: