Minutes

3 Resolutions

¢ R-21-190 — Relative to $3.6 million sale of Burke Street proceeds to be
used towards the Construction of a DPW Administrative Office
Building Capital Project

¢ R-21-191 Relative to the Repurposing of available bond proceeds of
$2.0 million from the Broad Street Parkway project to the
Construction of a DPW Administrative Office Building Capital Project

¢ R-21-192 Relative to the authorization of $3.0 million of Bonds for the
Construction of a DPW Administrative Office Building Capital Project

Financing Plan

Sources of Funds

Funding: Budget Available

GOB PROCEEDS S 6.0 Million YES
GENERAL FUND-ESCROWS S 500K Thousand YES
BURKE ST PROCEEDS S 3.6 Million YES
REPURPOSING BROAD ST PRKWY |S 2.0 Million NO

TOTALS 12.1 Million

NEED S 2.9M
CALL IT S 3.0M NO
PROJECT TOTAL S 15.1M

*These are round numbers

(gee) THE CITY OF NASHUA “The Gate Cty’

tdi
WA aac toeg a
W\st enh
SY es
Sa

Request

¢ Approval of the Various Resolutions (R-21-190, R-21-
191 & R-21-192)

Why Is This Legislation Before You

¢ This will allow for the DPW Administrative Office
Building Capital Project to Proceed with all the sources
necessary to construct a $15.1 million building project

Special Board of Aldermen 11-22-2021 Page 11

those prices in. That's what it will cost us unless it's something really unusual. Prices go down, we don't have to
spend that money. This money comes back to us.

Okay, any other testimony in opposition?

TESTIMONY IN FAVOR - None

TESTIMONY IN OPPOSITION - None

| will now close the public hearing on Resolution R-21-192 at 7:46 p.m.

ADJOURNMENT

MOTION BY ALDERMAN O’BRIEN THAT THE NOVEMBER 22, 2021, SPECIAL MEETING OF THE BOARD OF
ALDERMEN BE ADJOURNED, BY ROLL CALL

Special Board of Aldermen 11-22-2021 Page 10

commercial and residential properties. So | think property owners are in for a rude awakening next year and | think
when you couple some of this debt on that'll be rolling thereafter it's problematic.

Now when | look at this bond schedule that Dave so graciously provided us, it really looks like in 2023 the debt service
is very low - $133,000. Is that what's correctly what's projected for 2023?

David Fredette, Treasurer

Special Board of Aldermen 11-22-2021 Page 9
Laurie Ortolano

Special Board of Aldermen 11-22-2021 Page 8

Laurie Ortolano

Special Board of Aldermen 11-22-2021 Page 7

Lisa Fauteux, Public Works Director

Yes, we did do a comprehensive traffic study and it is posted on our website under the Division of Public Works
website.

Chairman Dowd
Thank you. Also | think the heavy trucks we're talking about are already there. There's none that are going to be
stored in this building. There are no additional trucks going to be there because all the offices are going out there.

The trucks are all stored there now. You want to address that Director Fauteux.

Special Board of Aldermen 11-22-2021 Page 6

Special Board of Aldermen 11-22-2021 Page 5

Tim Cummings, Economic Development Director

Pretty much all the groups will be moved over? | think there's some Street Department personnel that may not move
over right away but my understanding the plan is all the other groups would be would be consolidating but | defer to
Director Fauteux.

Chairman Dowd

Director Fauteux would you like to come up and join us?

Lisa Fauteux, Public Works Director