Business & Industrial Development Authority

Nashua Business and Industrial Development Authority Meeting Minutes May 16, 2014 1. Call to Order and Welcome The regular meeting of the Nashua Business and Industrial Development Authority was called to order at 8:16 a.m. on May 16, 2014 in Room 208, Nashua City Hall by Vice Chairman Don Zizzi. Present: Vice -Chairman Don Zizzi, Heath Gaffney, John Stabile, David Fredette, Jason Haviland, Bradley Vear, Camille Pattison, and Mark Prolman Other Attendees: Tom Galligani, George Durante, Barbara Pressly, Alderman Ken Siegel, James Vayo, State Representative Mary Gorman. 2. Approval of Meeting Minutes from April 25, 2014. MOTION TO APPROVE THE MINUTES FROM THE APRIL 25, 2014 MEETING MADE BY J HAVILAND. MOTION WAS SECONDED BY C PATTISON AND APPROVED UNANIMOUSLY. 3. Bridge Street Project Update: o T Galligani explained that Ryan Porter of Renaissance Developments was scheduled to speak at the BIDA meeting, but would not be in attendance due to a delayed flight. However, Mr. Porter would be available later in the day if members of the BIDA wished to schedule a meeting independently. J Vayo proceeded to provide a summary of the Bridge Street Project’s progress over the course of the past six months. The summary followed a document that was distributed by J Vayo. D Zizzi requested that J Vayo speak to the note at the base of the summary regarding the storm water basin. J Vayo explained that the existing development model for Phase I consists of three buildings, but at this time, there is only room enough for two buildings until the storm water basin is resolved. D Fredette asked for additional clarification. T Galligani added that the issues surrounding the storm water basin have not been resolved yet and until they are, on-site parking and the third building cannot be constructed. J Vayo reminded the BIDA that the City has issued an RFP for a consultant to devise a solution to resolve the storm water basin issues. T Galligani estimated that a consultant would be selected soon and plan of action would be adopted by December. D Fredette asked about the situation regarding tax abatements. T Galligani explained that one of the City’s primary goals for pursuing this project is to get the property back on the tax rolls, which is why Renaissance is now exploring the potential of financing some of the project through Low Income Housing Tax Credits. J Stabile offered J Vayo some additional information about applying for Low Income Housing Tax Credits. T Galligani stated that he requested the six month project summary from Renaissance in order to refresh the BIDA’s memory of what has been accomplished so far with the Bridge Street project. 4. East Hollis Street/Crown Street Update: o T Galligani provided an update, which included the City’s release of an RFP for a concept study that will hopefully integrate the roundabout and drainage issues so that they can be resolved while construction  is occurring. The City is in the process of choosing a firm for that study. The City and the selected firm will have to work together with the Army Corps of Engineers in order to develop a plan that will clearly exhibit that a solution has been devised that eliminates the need for the storm water basin. The study is expected to be completed by the end of October. Tom Continued that there should be some important answers by this fall about the storm water basin piece and the financing for the Bridge Street Waterfront Development project. M Prolman inquired about the scoring process for LIGHTEC funding. J Stabile replied that Renaissance would receive some additional points because they have site control and a city partnership, but they would be awarded more points if they owned the property Bridge Street Waterfront Development site. However the largest point allocation in this category is awarded for support from the local community. J Vayo requested a letter of support from BIDA. D Zizzi asked if J Vayo intended to make a similar request to the Board of Alderman, to which J Vayo replied that he did. MOTION TO APPROVE THE DRAFTING AND SENDING OF A LETTER OF SUPPORT TO SUPPLEMENT RENAISSANCE DOWNTOWN’S APPLICATION FOR LOW INCOME HOUSING TAX CREDITS MADE BY B VEAR. MOTION WAS SECONDED BY J HAVILAND AND APPROVED UNANIMOUSLY. 5. R-14-003 Regarding Downtown Residential Development – High Street Parking Lot o D Zizzi recommended that the next BIDA meeting be a working session. T Galligani suggested that the BIDA walk around the area in question. D Zizzi agreed that this was a sound approach and reminded the BIDA that they were going to begin identifying parcels, uses, and ownership throughout the development area so that they could begin to engage with community stakeholders. H Gaffney asked about the results of the circulation study. T Galligani provided an overview and stated that there were a few areas of the study that were part of the development area and would affect a development on High Street. He noted the most impactful pieces would be the redesign of the Walnut Street Oval and the reconfiguration of W Pearl Street, as well as Factory Street and Water Street. However, he noted that most tenants and owners on W Pearl Street did not support any changes and results were expected from VHB within the month. D Zizzi noted that the value of even a preliminary look at the results would be good for the BIDA. Tom remarked that he expected to have more information by next month. 6. Other o J Stabile asked if the BIDA could send a letter of condolences to Chairman Tulley regarding his father’s passing. D Zizzi agreed that he would send the letter as Vice Chair 7. Next Meeting Date Meeting was adjourned at 8:52 a.m. The next general meeting will be at 8:15 a.m. on June 20, 2014 in City Hall Room 208. Minutes submitted by: G Durante