Board Of Aldermen

Board of Aldermen 12-11-2018 Page 4

PERIOD FOR PUBLIC COMMENT RELATIVE TO ITEMS EXPECTED TO BE ACTED UPON THIS
EVENING

Board of Aldermen 12-11-2018 Page 3

Board of Aldermen 12-11-2018 Page 2

that Center. They have also suggested possibly reorienting the stage from the Main Street end to the
western end and opening the main entrance on Main Street, all these things can be considered as we go
forward. But these are very promising and exciting ideas that they have put forth regarding how the design
can be used just to make a striking statement in our downtown.

A regular meeting of the Board of Aldermen was held Tuesday, December 11, 2018, at 7:30 p.m. in the
Aldermanic Chamber.

President Lori Wilshire presided; City Clerk Patricia D. Piecuch recorded.

Prayer was offered by City Clerk Patricia D. Piecuch; Alderman Jan Schmidt led in the Pledge to the
Flag.

The roll call was taken with 14 members of the Board of Aldermen present.
Mayor James W. Donchess and Corporation Counsel Steven A. Bolton were also in attendance.

REMARKS BY THE MAYOR

Mayor Donchess

Board of Aldermen

City of Nashua
229 Main Street Lori Wilshire
Nashua, NH 03061-2019 President, Board of Aldermen

(603) 589-3030

December 13, 2018

Som CITE Ge ET

Patricia D. Piecuch, City Clerk REG'D CID:
City of Nashua Drh, Lo” Lo
229 Main Street

Nashua, NH 03061-2019

Dear Ms. Piecuch:

SPECIAL BOARD OF ALDERMEN

DECEMBER 20, 2018

7:00 PM Aldermanic Chamber

PRESIDENT LORI WILSHIRE CALLS ASSEMBLY TO ORDER PRAYER
OFFERED BY CITY CLERK PATRICIA D. PIECUCH

PLEDGE TO THE FLAG LED BY ALDERMAN RICHARD A. DOWD
ROLL CALL

COMMUNICATIONS

From: Lori Wilshire, President, Board of Aldermen
Re: Special Board of Aldermen Meeting

PRESENTATIONS

New Market Tax Credit Program for the Performing Arts Center Presentation by Niel Cannon, Finance &
Development Consultant

PERIOD FOR GENERAL PUBLIC COMMENT

Keene — Example: Library Project ($15.5M)

City of Keene
$2.5M (equity)
$8.96M (Loan)

76 Winter Street, LLC CDE Equity Investor (“US Bank”)
“Sr. Leveraged Lender” S$8.96M Sr. Lev Lender S5.07M NMTC Credit
S8.96M S4.36M NMTC Investment $4.36 Net NMTC Capital
$13.32 Total
§ 13.32M
S -200K (fees/expenses)
§ 13.1M
$2.5M equity Heberton Advancement, LLC
“QALICB”
S 2.5M
: ey City of Keene
, “Master Tenant”
Operator

Calculating NMTC Amount

Qualified Equity Investment ("QEI"): S 18,500,000
Credit Rate: 39%
Total Credits: S 7,215,000
Credit Price/$1.00: S 0.85
TOTAL EQUITY INVESTMENT: S 6,132,750

Calculating Loan B Amount (Net NMTC Equity)

Total NMTC Equity Investment: S 6,132,750
Less Fees S (930,000)

LOAN B AMOUNT: S$ 5,202,750

NASHUA PERFORMING ARTS CENTER: DEAL STRUCTURE

Bond Proceeds
$ 42,927,250

Bond
yments

x

Loan
$ | 12,927,250

Debt Service
Payments

|_ Coan

$ 12,927,250

Debt Service

Payments —

NMTC EQUITY
$ 6,132,750

NMTC's
$ 7,215,000

Qualified [Equity Investment Debt Service

"QEI"
$

Payments

18,500,000

E LOANS

Loan "A":
Loan "B":

12,927,250
5,202,750

18,130,000

NASHUA PERFORMING ARTS CENTER — KEY ELEMENTS OF
NMTC’s

NUMBER 5

Community Development Entities (CDEs) are the key to NMTC
funding. CDEs are awarded credits by the US Treasury. CDE’s
must sub-allocate these credits to worthy projects that meet
program guidelines. Therefore, we must convince 1 or 2 CDEs
that the proposed project has financial strength and results in
positive community impacts.