Board Of Aldermen

Special Bd. of Aldermen — 02/27/2017 Page 2

A special meeting of the Board of Aldermen was held Thursday, March 1, 2018, at 7:00 p.m. in the
City Hal Auditorium.

President Brian S. McCarthy presided; Legislative Affairs Manager Susan Lovering recorded.

Prayer was offered by Legislative Affairs Manager Susan Lovering; Alderman Patricia Klee led in the Pledge to
the Flag.

The roll call was taken with 13 members of the Board of Aldermen present; Alderman Wilshire and Alderman
Lopez were recorded absent.

SPECIAL BOARD OF ALDERMEN
MARCH 6, 2018
7:00 PM Aldermanic Chamber
PRESIDENT BRIAN S. MCCARTHY CALLS ASSEMBLY TO ORDER
PRAYER OFFERED BY CITY CLERK PATRICIA D. PIECUCH
PLEDGE TO THE FLAG LED BY ALDERMAN TOM LOPEZ

ROLL CALL

PUBLIC HEARING
O-18-006

EXPANDING THE TAX INCREMENT FINANCING DEVELOPMENT DISTRICT UNDER
RSA 162-K AND NRO 295-11, ESTABLISHED BY O-03-171 AND REPLACING THE
TAX INCREMENT FINANCING DEVELOPMENT PROGRAM AND FINANCING PLAN
ADOPTED BY R-03-197 AND R-04-58

Testimony in Favor

3/6/2018

NASHUA DOWNTOWN
RIVERFRONT
DEVELOPMENT PLAN
FINAL REPORT

ioe dnonden

Camenunity Developenent Obeion

Prepared by Haleorsan Desk
Auapont 2007

Six BIG ideas for
Nashua’s Riverfront

ep oeeopea aetonres on $
fronts oct me och coaans ecb

RECREATION A GREEN SPACE

Specifically.... Nashua’s Riverfront TIF
Potential ~~ TIF Projects 2% wit hae
We will be implementing the Riverfront Plan...

Riverwalk

Greeley House
Lighting

Fountains

3/6/2018

Tax Increment Financing Presentation

Presented By:

Tim Cummins

Director of Economic Development
_ City of Nashua

Sarah Marchant
Director of Community Development
City of Nashua

What Is TIF...

+ Established In the 1970s in N.H.
* RSA 162-K Enabling Statute

+ Captures all property tax revenues generated by new development
within a TIF district to fund projects (capital/operating costs)

* Please Memo

Overview of the General Concept

How It works....

Special Bd. of Aldermen — 03/6/2018 Page 14

Testimony in Favor — None

Anyone want to give testimony in opposition?
Testimony in Opposition — None

Testimony in Favor — None

Testimony in Opposition — None
ADJOURNMENT

MOTION BY ALDERWOMAN MELIZZI-GOLJA TO ADJOURN
MOTION CARRIED

The meeting was declared adjourned at 8:04 p.m.

Attest: Patricia D. Piecuch, City Clerk

Special Bd. of Aldermen — 03/6/2018 Page 13
Alderman Jette

Is there anyone from the public here to speak?

Alderwoman Melizzi-Golja

Special Bd. of Aldermen — 03/6/2018 Page 12

Special Bd. of Aldermen — 03/6/2018 Page 11

it’s like the Downtown Improvement Committee. It’s a very similar model to our Downtown Improvement
Committee and again it would be a similar type of governance process. What would come back before the
Board of Aldermen would be an amendment to the plan and that amendment would articulate how the differing
financial plan would work and what projects would be expended or spend money on. Then it would be the
committee that would have to actually execute on the project.

Alderman Dowd

Special Bd. of Aldermen — 03/6/2018 Page 10

the neighbors whose backyard of the library walk might feel like what are you doing to my backyard. What's
going to happen next?

Alderman Klee

Thank you. So the TIF money stays within the district that it is collected from. Is that correct?

Director Cummings

Yes.
Alderman Klee