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.
LEGISLATIVE YEAR 2020
ORDINANCE: O-20-030
PURPOSE: Adopting a Tax Increment Financing (TIF) Development
District under RSA 162-K and NRO 295-11, the “School Street
TIF” and a Tax Increment Financing Development Program
and Financing Plan for the New TIF
SPONSOR(S): Mayor Jim Donchess
COMMITTEE
ASSIGNMENT:
FISCAL NOTE: The proposed TIF district at this time does not have any direct
ORDINANCE O-20-030
B. Such district shall also include any lots created out of or established from the
foregoing lots.”
And further, it is hereby RESOLVED by the Board of Aldermen of the City of
Nashua that the attached “Tax Increment Financing Development Program and Financing Plan”
is hereby adopted for the tax increment financing development district comprised of land
identified in NRO Section 295-12.1.
O-20-030
ORDINANCE
ADOPTING A TAX INCREMENT FINANCING (TIF) DEVELOPMENT DISTRICT
UNDER RSA 162-K AND NRO 295-11, THE “SCHOOL STREET TIF” AND A TAX
INCREMENT FINANCING DEVELOPMENT PROGRAM AND FINANCING PLAN
FOR THE NEW TIF
CITY OF NASHUA
In the Year Two Thousand and Twenty
The City of Nashua ordains that Part II “General Legislation,’ Chapter 295
“Taxation,” Article V “Development and Revitalization Districts,’ of the Nashua Revised
Ordinances, as amended, is hereby amended by adding a new section as follows:
RESOLUTION
Approved as to account
structure, numbers and
amount:
Approved as to form:
R-20-071
Financial Services Division
By: /s/ David G. Fredette
Office of Corporation Counsel
By: /s/ Celia K. Leonard
Date: 9/2/2020
LEGISLATIVE YEAR 2020
RESOLUTION: R-20-071
RESOLUTION R-20-071
FURTHER RESOLVED, by the Board of Aldermen of the City of Nashua that the
R-20-071
RESOLUTION
AUTHORIZING THE MAYOR AND CITY TREASURER TO ISSUE BONDS
NOT TO EXCEED THE AMOUNT OF EIGHT MILLION DOLLARS ($8,000,000) FOR
TWO CONTSRUCTION PROJECTS, CONSISTING OF A PUBLICLY ACCESSIBLE
GROUND LEVEL PARKING GARAGE ($2,500,000) AND ADDITONAL FUNDING
FOR THE PROPOSED PERFORMING ARTS CENTER ($5,500,000)
CITY OF NASHUA
In the Year Two Thousand and Twenty
O-20-030
ADOPTING A TAX INCREMENT FINANCING (TIF) DEVELOPMENT DISTRICT UNDER RSA 162-K
AND NRO 295-11, THE “SCHOOL STREET TIF” AND A TAX INCREMENT FINANCING
DEVELOPMENT PROGRAM AND FINANCING PLAN FOR THE NEW TIF
Testimony in Favor
Testimony in Opposition
Testimony in Favor
Testimony in Opposition
ADJOURNMENT
SPECIAL BOARD OF ALDERMEN
SEPTEMBER 28, 2020
7:00 PM
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PRESIDENT LORI WILSHIRE CALLS ASSEMBLY TO ORDER
