Minutes

Special Bd. of Aldermen — 12/20/2018 Page 13
Alderman Jette

Ok thank you. To the right of the Investment Fund, there’s another number there in that top box.

Mr. Cannon Yes that is $6.132750 which is .39% of the $18.5 and the $18.5 is the qualified equity investment
which you see right there, that’s 18.5. So 39% of that is that number, I’m sorry, that number the $7.2 that is the
amount of credits. And 85% of this is the $6.1 which is the cash equity injected into the fund.

Alderman Jette

Special Bd. of Aldermen — 12/20/2018 Page 12

Alderman Lopez

Yes, thanks.

Alderwoman Kelly

My next question is for Mr. Cannon, | wanted to know about the competitiveness, | know that other places are
competing and have you ever seen someone not take a project?

Special Bd. of Aldermen — 12/20/2018 Page 11
President Wilshire

Alderman Lopez throughout the process | have asked Director Cummings to come before this Board and
update us regularly on where they are in the process. So he and | have yet to work out the details of how that
might look, but | expect it might be maybe the 1°' meeting of every month or maybe the 2™ meeting of every
month that he can meet with us, maybe at 7:00 prior to a full board meeting and update us. Does that help?

Alderman Lopez

Special Bd. of Aldermen — 12/20/2018 Page 10

something that we have to be mindful of, because with multiple steps and multiple resolutions that need to be
passed, it is going to be very important that we, who answer to the people, are able to articulate why we are
doing certain things, we are able to answer questions or address it. So we need the tools to do that, which
means we also need to be very transparent and very cooperative at this point, moving forward.

Special Bd. of Aldermen — 12/20/2018 Page 9

Mr. Cummings

So to answer that question, the answer is yes we are very much looking to sell those naming rights and
wherever we can sell those naming right, whatever entity, we are looking at regional actors, we are looking at
actors in Boston, major corporations that might have a presence here but have a headquarters in Boston in
particular. We have been in active conversations with them.

President Wilshire

All set Alderman Dowd.
Alderman Dowd

Yes all set.

Alderman Klee

Special Bd. of Aldermen — 12/20/2018 Page 8
Alderman Dowd

Don’t worry it’s not going to be a hard question.

President Wilshire

He’s up for it.

Alderman Dowd

So my question is with what is happening with the Fed right now are bond interest rates going up and could we
sell the bond ahead and keep that money aside or do we have to sell them when this starts?

David Fredette, Treasurer Tax Collector

Special Bd. of Aldermen — 12/20/2018 Page 7

Mr. Cummings

Special Bd. of Aldermen — 12/20/2018 Page 6

the ideas, because once this train leaves the station, we really need to make sure we have the approvals
necessary to be able to execute on this project. So with that being said, Madam President.

President Wilshire
Thank you and thank you Mr. Cannon for your presentation. | am going to start on this side.

Alderman Gidge

Special Bd. of Aldermen — 12/20/2018 Page 5

Special Bd. of Aldermen — 12/20/2018 Page 4

where the equity investors would like to see you be. They don’t want to get into a hassle with the City of
Nashua.