Minutes

Board of Aldermen 11-13-2018 Page 3

Next Madam President | wanted to mention the election day; as usual Ms. Piecuch, City Clerk and her staff
did a very good job on a pretty hectic day. We did have problems in Wards 3 and 8, especially Ward 3,
Trish was over there until 1:00 in the morning. That is unusual. A lot of the problems were caused by the
machines which had trouble with the two ballots which were often fed into the machines at the same time
and they jammed a lot. That was a major cause of the delay in those two Wards.

Board of Aldermen 11-13-2018 Page 2

President Wilshire declared Alderman-at-Large Michael B. O’Brien, Sr. duly elected Vice President of
the Board of Aldermen for the remaining 2018-2019.

Oath of Office administered by Corporation Counsel.

REMARKS BY THE MAYOR

Mayor Donchess

A regular meeting of the Board of Aldermen was held Tuesday, November 13, 2018, at 7:30 p.m. in the
Aldermanic Chamber.

Vice President Lori Wilshire presided; City Clerk Patricia D. Piecuch recorded.

Vice President Wilshire

The City lost a great man this past week, Brian McCarthy, the President of this wonderful board.
Brian’s accomplishments were many, his love for his community unrivaled; my deepest sympathies to

his wife Gloria, his daughter Kim, and his son John and John’s wife Alicia. Rest in peace my friend.

Examples of Nashua Projects that Used Tax Credits as Part of Their Project Financing?

Makeit Labs

Girls Inc.

YMCA

Boys & Girls Club of Nashua

Nashua Soup Kitchen

Cotton Mill Apartments

Neighborhood Housing Services of Greater Nashua

*Partial List

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Chapter 1

Basics of Tax Credit Finance

‘Tax credits are a form of investment by federal, state, or local governments, and provide
important incentives to eligible businesses, nonprofit organizations, and developers to
develop projects. The goal of this Guide is to introduce readers to tax credit financing, types
of tax credits available, and strategies and techniques for enhancing the value of tax credits.
Finally, and importantly, this Guide also provides examples and case studies where creative

Timeline

We are working on a very aggressive timeline and every delay that occurs pushes the goal of
getting under construction further away. It is my hope to have the building under construction in
some fashion by the fall of 2019.

As of right now we would be looking to be under construction in the fall of 2019 and operational
by fall of 2020.

Recommendation

S\\ THE CITY OF NASHUA

Economic Development Division

"The Gate City”

Memo: Lori Wilshire, President

Ce: Board of Aldermen

From: Tim Cummings, Economic Development Director
Date: November/2018

RE: Amendment to R-18-001

Purpose

We have worked diligently and methodically over the last nine (9) months since the bond was
first authorized and during that time we have learned a great deal. The purpose of the amendment
is to bring the current resolution up to date.

Amendment

Special Bd. of Aldermen — 11/26/2018 Page 17

affecting our community and second also being concerned as to what philanthropy was going to be going
towards it when we have children that don’t have meals outside of the school program and other issues.

Special Bd. of Aldermen — 11/26/2018 Page 16

Unidentified Speaker
8,000 or 9,000.

Special Bd. of Aldermen — 11/26/2018 Page 15

together until you’ve put out the bids. And there is just a little bit of a difference in the process working from the
public side. | think all of us have felt that oh | want to do this but oh no | can’t because this is a public process

So | think that there has been a little bit of that that feels very different for many of us who have been involved
on both sides, non-profit as well as public. But no we are not putting 2,000 people in there at one time.

Alderman O’Brien