Board Of Aldermen - Minutes - 9/28/2020 - P32

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

There are four main sources for financing this project at this time. City’s General Obligation Bond at
$15.5 million, a proposed TIF with a bond authorized at $5.5 million. A New Market Tax Credit at $2.4
million, and Local Private Fundraising at $1.6 million. This will total $25.0 million.