Agenda

Annual Report

Pursuant to RSA 162-K:11, the City, by and through the Administrator of the District, in consultation with
the Advisory Board, shall prepare an annual report containing the following:

° A Narrative Report on the status of theimplementation of the Plan and a summary of
the work that has been completed within the previous year;

° The amount and source of revenue of the District;

° The amount and purpose of expenditures;

° The amount of principal and interest on any outstanding bonded indebtedness;

1) Negotiate for the acquisition of real property or easements, and sign options and | or purchase
and sales agreements to acquire said property or easements subject to final approval by the Board
of Aldermen;

2) Enter into contracts for the construction of any of the facilities included in the development
program

3) Negotiate and sign, upon the approval of the Board of Aldermen, any contracts relative to the design,
engineering, construction or operations of any phase or component of the activities proposed under
this Plan;

Education Local 52.13
Education State $1.15
Total | $21.76

The estimated impact of tax increment financing on the assessed values of all other taxing jurisdictions
within the City of Nashua is negligible, since the proposed improvements are designed to encourage
commercial investment and lessen the residential tax burden. Thus, these activities will contribute to a
long-term increase in the non-residential tax base at a faster rate than would otherwise be achieved.

(a) The development program or financing plans for such tax increment
finance districts; or

(b) The ability to satisfy or expedite repayment of debt service obligations
incurred for a tax increment financing district; or

(c) The ability to satisfy program administration, operating, or maintenance
expenses within a tax increment financing district. "

e N.H. Housing and Finance Authority programs

e NHDOT Enhancement Grants

e TCSP Grants from the Federal Highway Authority

e New Hampshire Business Finance Authority programs

A key component for the project funding is the use of the accumulated TIF Funds. All of the added-value
tax increments shall be set aside and placed into the dedicated TIF Account fund.

Relocation and Displacement

*The calculation uses a 2019 tax rate

Goals and needs of the business community and city residents must be openly discussed and aligned.

All aspects of a project must be clearly outlined and understood by all parties this way, the economic
benefits of this overall TIF Plan and the future project-specific modifications will be realized. The 2003
Downtown Master Plan shall be the principle guiding document due to its breadth in scope outlining the
desires and wishes of the community due its extensive outreach efforts to gather community input.

e The acquisition of buildings or properties which would be better utilized for a public purpose
[ex. parking or open/recreational spaces]; and,

¢ Transportation projects that improve access to the TIF District and/or provide for pedestrian
safety. Including looking at the one way reversal of traffic flow and the adding of parking spaces
on street.

Conformance with District Limitations per RSA 162-K:5

The size of the district is 1.63 acres. The City of Nashua has a total of 19,712 acres. Therefore the
district represents significantly less than the 5% maximum of the total City acreage per RSA 162-
K:5.1.

Simultaneously, the city over the last few years has contemplateda streetscaping and infrastructure
enhancement along West Pearl Street coupled with a reversal of the flow of trafficon West Pearl. More
broadly this would also allow for the squaring off the “Courthouse Oval” on Walnut/Central and
Factory/Chestnut Street(s).