In accordance with the provisions of RSA 162-K, Municipal Economic Development and Revitalization Districts, the Nashua Board of Aldermen hereby establishes the School Street Tax Increment Financing (“TIF”) District, and the associated Development Program and Financing Plan (hereinafter "the TIF Plan").
Purpose & Objectives
The purpose of the TIF Plan is to advance the desirable development, redevelopment and physical improvements along the adjacent to West Pearl Street and School Street creating a mixed-use environment and a growing multi-family neighborhood. This plan is to create the framework to fund a variety of public improvements necessary to support this vision.
The objectives of this development program and TIF plan are to:
Improve and upgrade public infrastructure and public amenities that encourage and create opportunities for businesses and housing to locate and expand within the district.
Enhance employment and residential opportunities for area residents within the district.
Expand the property tax base.
Enhance arts and cultural assets within the district including continuing supporting the future Performing Arts Center located at 201 Main Street.
To or improve parking either through management or adding additional parking.
Achievement of these objectives will occur through a combination of efforts. Existing and future property and business owners, new investors, and City staff and the City Board of Aldermen will be required to discuss redevelopment initiatives, and work cooperatively on funding plans and projects.
In accordance with 162-K: 14, the Board of Aldermen through this Development Program and Financing Plan shall appoint the following Advisory Board Members: Managing Partner of Lansing Melbourne Group or his/her designee (Peter Flotz), Chair of Performing Arts Center Steering Committee (Rich Lannan), the Director of Economic Development (Tim Cummings), the Director of Community Development (Sarah Marchant) and the Treasurer (David Fredette) all for a one year term