Minutes

Special Bd. of Aldermen — 10/26/15 Page 12
Alderman O’Brien

| would like to give a special thank you to Ms. McNamara and Ms. Hall for coming and explaining this to us, |
think it greatly helps. To me, this is a legacy project as Aldermen. This is someday going to go down like
Greeley Park and make the City the quality place that we come to expect. Our involvement here is going to
lead us into the future so it is very good that we are working on that goal. Thank you.

ADJOURNMENT

MOTION BY ALDERMAN WILSHIRE TO ADJOURN
MOTION CARRIED

Special Bd. of Aldermen — 10/26/15 Page 11
Ms. McNamara

Yes. It will be its own 501(c)(3) entity, so we would no longer have a need for the school agent.

Alderwoman Kelly

| am just wondering how long we anticipate before that 501(C)(3) will be formed and able to do that?

Special Bd. of Aldermen — 10/26/15 Page 10

Alderman Harriott-Gathright

| Know that you are still into negotiations, but do you have any idea what percentage the fiscal agent is going to
get or have you not gotten that far into negotiations?

Mr. Cummings What has been represented to me thus far is that there is no interest in City Arts Nashua
charging a percentage.

Alderman Harriott-Gathright

Excellent, if that is true, excellent.
Alderman Caron

Special Bd. of Aldermen — 10/26/15 Page 9

Alderwoman Melizzi-Golja

One of the questions that was asked of me is the $2.5 private plus the NH CDFA and what | am hearing you
say now is that is all combined and it is $2.5 including the NH .... So thank you.

Special Bd. of Aldermen — 10/26/15 Page 8
Alderman Jette

When you say you’ve made your pledge, | thought that the City had to establish some kind of an account that, |
can’t remember the details of it, we’ve talked about it before. | thought before we could start accepting money
we had to establish some kind of a trust account.

President McCarthy

Special Bd. of Aldermen — 10/26/15 Page 7

Special Bd. of Aldermen — 10/26/15 Page 6

Special Bd. of Aldermen — 10/26/15 Page 5

businesses in the State, it is based in Keene, they really focus on Keene and hunger which makes sense for
an entity that is focused on groceries and is based in Keene. So they really use it as part of their philanthropy
whereas | would say the New Market Tax Credits, it is really more transactional.

Special Bd. of Aldermen — 10/26/15 Page 4

What you have in the end is hopefully a pretty robust base of donors to support your organization going
forward and you’ve achieved your campaign goal. | always add in the Appreciation Phase, you want to thank
the donors and the volunteers and so this is when you would have a celebration, a grand opening, an open
house, in inaugural show, appreciation letters.

Special Bd. of Aldermen — 10/26/15 Page 3

| am going to move away from the feasibility study now and talk about campaign strategy and timeline unless
anybody has any questions before | proceed?