Board Of Aldermen

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the Chamber, our Board, and our Membership to speak in support of the Performing Arts Center and the
economic impact it will have on the greater Nashua Community. Using methodology from the Americans
for the Arts Economic Impact Studies, by year three, the Performing Arts Center will generate over $3.5
million dollars in annual spending and create jobs. This projected economic activity can be measured and
will create 135 direct and 113 indirect jobs.

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Chairman Dowd

Certainly.

Alderman Lopez

Mr. Chair can | raise a point of order here, please. We are well down a rabbit hole. This is a public
hearing. Can we let the public speak?

Chairman Dowd

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Chairman Dowd
Follow up, Alderman Lu?
Alderwoman Lu

Well sure but there will be taxpayers that are paying those taxes right? And they are not necessarily going
to be different taxpayers than exist today. So | don’t understand how you say, how you gave that answer
that no current taxpayers will be paying towards the TIF.

Chairman Dowd

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many existing Nashua taxpayers will be paying for this project? Can anyone answer that question? How
many existing Nashua taxpayers will be paying for this bond?

Director Cummings

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very successful. So | think that’s where they tie together. And to make one successful to make the other
successful | think is what they are striving to achieve with this Legislation.

Mayor Donchess

Mr. Chair, could | add to that just a little bit?
Chairman Dowd

Mayor, go ahead.

Mayor Donchess

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Alderman Cleaver

Yes, thank you Mr. Chairman. | am trying to understand why we are combining financing of the Performing
Arts Center with the project associated with School Street. To me, they are very, very different projects,
different pros and cons, different concepts entirely and not related except for both are in Nashua. | don’t
understand why one piece of Legislation is dealing with the financing of both together and it makes no
sense.

Chairman Dowd

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Alderman Lopez

Are they utilizing the full amount of allocation that we have.

Director Cummings

100% and that’s the way the project works, that’s the way the program works. The investor buys 100% of
the allocation.

Chairman Dowd

All set Alderman Lopez?

Alderman Lopez

Yeah, | just wanted to make sure that those differences were clear.

Chairman Dowd

OK, alright. Thank you. Alderman Jette?

Alderman Jette

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direction and | think we are at the top of the hill now and | think we should really be pleased with how we
are doing.