City Council

Minutes were approved by the Finance Committee on June 18, 2026. CITY OF LACONIA - CITY COUNCIL SUBCOMMITTEE MEETING Finance Committee City Hall - Armand A. Bolduc City Council Chamber 5:00 P.M. 4/2/2026 - Minutes 1. CALL TO ORDER Chairman Soucy called the meeting to order at 5:00 PM. 2. SALUTE TO THE FLAG Councilor Hoffman led the salute to the flag. 3. RECORDING SECRETARY Katie Gargano, City Clerk 4. ROLL CALL Clerk Gargano called the role of the following committee members: Councilor Hoffman, Councilor Soucy and Councilor Bogert. Chairman Soucy confirmed that all committee members were in attendance and a quorum was established. 5. STAFF IN ATTENDANCE Kirk Beattie, City Manager; Glenn Smith, Finance Director 6. APPROVAL OF MINUTES 6.A. Approval of Finance Subcommittee meeting minutes of January 27, 2026 Councilor Bogert made a motion to approve the minutes from January 27, 2026, seconded by Councilor Hoffman Discussion: None. The motion passed with all in favor. 3-0 7. FINANCE (Councilors Soucy, Bogert and Hoffman) 7.A. Colonial Theatre management agreement Manager Beattie passed out the draft version of the agreement with the committee members. Manager Beattie focused on what the changes were in the contract. He noted that representatives from Spectacle Management were present at the meeting to answer any questions the committee may have. The advisory board- the committee added they go through the appointments committee. Councilor Soucy would like to see a City Councilor be a member of that advisory board. Manager Beattie will add that in. The term of the agreement was discussed, the onsite manager works 40 hrs/ week out of the Canal  any questions the committee may have. The advisory board- the committee added they go through the appointments committee. Councilor Soucy would like to see a City Councilor be a member of that advisory board. Manager Beattie will add that in. The term of the agreement was discussed, the onsite manager works 40 hrs/ week out of the Canal Street side. The number of days usage 18 for the city, 12 for the library, The booking process There was a discussion about adding to page 7 letter F, that the contract is negotiated with the city of Laconia in addition to Spectacle. The next steps are to make the adjustments, bring this to the council and over the 2 meetings in April get this wrapped up. 7.B. Transfer of ownership of Colonial Theatre from BEDC to City of Laconia Manager Beattie informed the committee they are looking to close at the end of April. The contract is coming to the end of its life, there is no money exchanged and the city owns the theater. We do not own the retail space or the condos upstairs. We have to release our liability to the retail stores, the Belknap Economic Development Committee will sell the retail units. The city needs to figure out the association dues piece since the theater is the largest part of the condo association. The money made from the retail units will be paid back to the investors and there will be approximately 140k owed back to the city from the BEDC. Councilor Hoffman asked how much is left on the bond? The bond was 6.7 million for 25 years, we approximately have 20 years left on the bond, probably around 5.7 million. Next steps, manager Beattie will be bringing this to the council for one of the April meetings. 8. CITIZENS REQUESTS TO COMMENT ON CURRENT AGENDA ITEMS John Moriarty, Chairman of the Library Board Trustees. Wants to make sure the committee and the representatives of Spectacle know how dissatisfied the board is for the lack of access, they have been given 12 days, so over the years they should have had 90 days on the stage, and then to this date they have only been allowed 2 days. The library has 13 bullet points that he would like to share with the city manager to make sure this works out in the future. Bruce Cheney, Ward 1 doesn’t see the advisory committee having any purpose or goals or things to do. What the responsibilities are of the advisory committee. He’d like to see the council get ahead of it. At the moment it is in the city manager’s hands. There is one organization in the contract that gets to use the theater for free, but there is a cost of $500 for nonprofit, he thinks that should be reviewed as well. 9. Any other business that may come before the Council 10. ADJOURNMENT Chairman Soucy adjourned the meeting at 6:42 PM. Respectfully Submitted, Katie Gargano, City Clerk