e N.H. Housing and Finance Authority programs
e NHDOT Enhancement Grants
e TCSP Grants from the Federal Highway Authority
e New Hampshire Business Finance Authority programs
A key component for the project funding is the use of the accumulated TIF Funds. All of the added-value
tax increments shall be set aside and placed into the dedicated TIF Account fund.
Relocation and Displacement
*The calculation uses a 2019 tax rate
Goals and needs of the business community and city residents must be openly discussed and aligned.
All aspects of a project must be clearly outlined and understood by all parties this way, the economic
benefits of this overall TIF Plan and the future project-specific modifications will be realized. The 2003
Downtown Master Plan shall be the principle guiding document due to its breadth in scope outlining the
desires and wishes of the community due its extensive outreach efforts to gather community input.
e The acquisition of buildings or properties which would be better utilized for a public purpose
[ex. parking or open/recreational spaces]; and,
¢ Transportation projects that improve access to the TIF District and/or provide for pedestrian
safety. Including looking at the one way reversal of traffic flow and the adding of parking spaces
on street.
Conformance with District Limitations per RSA 162-K:5
The size of the district is 1.63 acres. The City of Nashua has a total of 19,712 acres. Therefore the
district represents significantly less than the 5% maximum of the total City acreage per RSA 162-
K:5.1.
Simultaneously, the city over the last few years has contemplateda streetscaping and infrastructure
enhancement along West Pearl Street coupled with a reversal of the flow of trafficon West Pearl. More
broadly this would also allow for the squaring off the “Courthouse Oval” on Walnut/Central and
Factory/Chestnut Street(s).
Introduction
In accordance with the provisions of RSA 162-K, Municipal Economic Development and Revitalization
Districts, the Nashua Board of Aldermen hereby establishes the School Street Tax Increment Financing
(“TIF”) District, and the associated Development Program and Financing Plan (hereinafter "the TIF
Plan").
Purpose & Objectives
TABLE OF CONTENTS
Introduction
Purpose & Objective
Background
District Boundary
Conformance with District Limitations Per RSA 162K:5
Proposed Improvements
Economic Benefits
Environmental Controls
Proposed Re-Use of Private Property
Relocation & Displacement
Operations & Maintenance of the District
Estimated Cost of Development Program
Funding Sources
The TIF District & RSA 79E
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Development Agreements
School Street
Tax Increment Finance District
Development Program & Financing Plan
Date:
Adopted by the Nashua Board of Aldermen
ORDINANCE ANALYSIS CONTINUED O-20-030
A development district may be designated by the Board of Aldermen upon a finding that it will
serve a public purpose. RSA 162-K:5. The district development program and tax increment
financing plan details the proposed public and private uses of the district and estimates the cost
of the development program and the sources of revenue. See RSA 162-K:°6 and 9.
