Present: Gary Levy, John Badger, Richard Bajger, Mike Ricker, John Alghren, Mike LaBranche
Consultant John Connery, Town Planner Diane Hardy, Town Administrator Ed Wojnowski
Chairman Gary Levy opened the meeting at 7:00.
Chairman asked for a motion on the minutes. Mike Ricker recommended several changes and John Badger noted that the minutes should reflect a unanimous vote of those present for election of the Chair and Vice-Chair. Motion by John Badger, second by Mike Ricker to adopt the minutes as amended, motion passed 4-0 with one abstention (Alghren).
Chair recognized John Connery, Consultant, to review his memo of June 17 regarding fiscal finding and policy statement components. Connery noted that the overview updates information regarding an increase in the size of the warehouse to include up to 15,000 square feet of office space.
Connery further stated the infrastructure costs, which total $2,600,000. Connery noted that taking 85% of the assessed value of the current industrial park yields a tax revenue estimate of $91,000.
Connery noted that the Economic Development Authority (EDA) indicated the possibility of providing infrastructure cost up to one half-project total, which would help to lower the town’s bonded assistance there by lowering the amount of debt service that would need to be repaid.
Connery stated that there are several components that come into play that can be used to lower the towns costs, those being, EDA grant, role of town land (Wilson property), bonded assistance and developer participation.
Connery then reviewed six policy statements, for discussion, that could be developed into a guiding document to assist the TIF committee to identify its participation in the project and guidance to the developer of their role and responsibilities.
The items identified are:
Project Location: the use of the Wilson Farm as the most effective and efficient site to begin the development of the park.
Fiscal Impact: will the development proposed yield sufficient tax revenue to repay the cost of debt service incurred by the town, or will some other mechanism need to be utilized to cover the debt.
Design Costs: who will design and engineer the infrastructure improvements and who will bear the costs.
Town Indemnification: how will the town be made whole for the debt incurred should the development fail? Consideration of performance bonds or other agreements to make the town whole.
Peer Review: all aspects of the project, when presented to the Planning Board, will need to reviewed by engineers selected by the town but paid for by the developer. Review to include, but not limited to, traffic, light, noise, etc.
Zoning Amendments: Committee to recommend to the Town Council to amend the rezoning of the Wilson property to allow development consistent with the remainder of the Black Bear district.
A final area that was discussed was the repayment to the General Fund for the purchase of the Wilson Farm as the TIF lacked sufficient funds to purchase.
Chair entertained several comments from members of the audience.
Committee took a break at 9:06.
Chair reconvened the meeting at 9:14 and a motion by John Badger, second by John Alghren to move to Non-Public Session, under RSA 91-A:3, II(d).
Affirmative: Levy, Alghren, Badger, Bajger, and Ricker.
Committee came out of Non-Public Session at 10:22 and Alghren moved to seal the minutes, second by Badger, motion adopted.
Motion to adjourn adopted, meeting adjourned at 10:23.
