Business & Industrial Development Authority

Nashua Business and Industrial Development Authority Meeting Minutes November 21, 2014 1. Call to Order and Welcome The regular meeting of the Nashua Business and Industrial Development Authority was called to order at 8:20 a.m. on November 21, 2014 in City Hall Conference Room 208, by Chairman Jack Tulley. Present: Chairman Jack Tulley, John Stabile, Brad Vear, Camille Pattison, Heath Gaffney, David Fredette, Jason Haviland, Alderman Brian McCarthy, David Denehy (via telephone) Other Attendees: Tom Galligani, James Vayo (Renaissance Downtowns), Ryan Porter (via telephone), Beth Hamilton 2. Approval of Meeting Minutes from October 17, 2014 MOTION TO APPROVE THE MINUTES FROM THE OCTOBER 17, 2014 MEETING MADE BY J STABILE. MOTION WAS SECONDED BY J HAVILAND AND APPROVED UNANIMOUSLY. 3. Bridge Street Project Update T Galligani announced to the BIDA that the official announcement was released on the NHHFA website on Tuesday. As expected, the Bridge Street Project was not selected to be funded by NFFHA. J Haviland asked if the application was submitted as it stood without any updates, and T Galligani confirmed it was. There was a brief discussion as to whether an application could be resubmitted in the coming years. R Porter presented several sentiments from the view point of Renaissance. R Porter recognized the position that NFFHA took and the frustration that the BIDA was feeling towards issues with the Dakota partnership. R Porter confirmed that Renaissance’s first priority is with the City of Nashua. R Porter suggested creating a task force to further implement outside infrastructure improvements. He encouraged the BIDA and the City of Nashua to explore other opportunities for financing. R Porter mentioned that a group in Boston has taken interest in Nashua recently and that Renaissance is working with them in New York. R Porter assured the BIDA that they are actively looking at opportunities to explore a 100% market rate deal. D Denehy: Asked R Porter what the plan was for future funding of the project would be. R Porter: Renaissance’s position is that it can be financed as a market rate project. J Stabile: Suggested that before we entertain any outside ideas, to get scores from the NEFA Housing Authority to see if it makes sense to entertain the idea. R Porter: Continued to express a positive take on getting the project going, whether it included Dakota or not. 1  MOTION BY JOHN STABILE TO ENTER INTO NON-PUBLIC SESSION UNDER RSA 91-A:3II(D) “TO CONSIDER THE ACQUISITION, SALE OR LEASE OF RENTAL PROPERTY WHICH, IF DISCUSSED IN PUBLIC LIKELY WOULD BENEFIT A PARTY OR PARTIES WHOSE INTERESTS ARE ADVERSE TO THOSE OF THE GENERAL COMMUNITY.” THE MOTION WAS SECONDED BY DAVID DENEHY. ROLL CALL VOTE: Chairman Jack Tulley, John Stabile, Alderman Brian McCarthy, Jason Haviland, David Fredette, Brad Vear, Camille Pattison, Heath Gaffney, and David Denehy (via telephone). ALL VOTED IN FAVOR OF ENTERING A NON-PUBLIC SESSION UNDER RSA 91-A:3II(D) MOTION BY CHAIRMAN JACK TULLEY TO SEAL THE MINUTES OF THE NON-PUBLIC SESSION UNDER RSA 93-A:3II(D) BECAUSE THE DISCLOSURE WOULD RENDER THE PROPOSED ACTION INEFFECTIVE. THE MOTION WAS SECONDED BY JOHN STABILE. T Galligani brought awareness to the progress that the BIDA has made over the past several years in preparing the Bridge Street site for redevelopment. This work includes, but is not limited to, saving the City of Nashua money by identifying alternative locations for sighting the CSO Screening and Disinfection facility ($1.8MM savings), aiding in the re-zoning of the Bridge Street areas, and continually moving toward further developing the City. The Mayor recognizes the achievements of the BIDA. 4. School Street RFP Update T Galligani would like to work with the BIDA to create an RFP for the site near School Street. In prior meetings the BIDA provided direction, indicating the releasing an RFP is premature. Instead, the BIDA encouraged inviting local developers to a forum focused on exploring the development opportunities at the School Street site. T Galligani now proposes to bring brokers and developers to Nashua and showcase a number of potential opportunities in Nashua. The idea would be to showcase several sites utilizing a City bus to transport from one site to another. T Galligani thinks it would be good to showcase, as well as get feedback. Other sites would include City-owned property on Pine Street, Central and Ledge and School Street. The privately owned, but vacant mill on Franklin Street could also be featured. T Galligani asked when the best time to showcase them would be. B Vear: Suggested to wait until warmer weather and when the Broad Street Parkway is making noticeable progress with construction. B McCarthy: Mentioned that the bridge span should be completed over the winter and construction should be taking place in the spring. He also suggested showing the infrastructure that the City of Nashua has made an attempt at completing for the development at Bridge Street. J Tulley: Suggested Thursday as a good day of the week. T Galligani thanked the BIDA for their input, and agreed that the spring would be a good time to plan for an event such as this. 2  J Tulley: J Tulley’s term has expired, but J Tulley, B Vear, and H Gaffney agreed to serve another term. J Tulley will also be asking D Zizzi to submit his name to be nominated again after he understands his time commitment with his new job. 5. Next Meeting Date: December 19, 2014 MOTION TO ADJOURN THE MEETING AT 9:15 BY B VEAR. APPROVED UNANIMOUSLY. Minutes prepared by B Hamilton 3 BIDA Presentation - Potential Sites for Developers Tour 2014-11-21 School Street Page 1 of 7 BIDA Presentation - Potential Sites for Developers Tour 2014-11-21 34 Franklin Street 0 Pine Street Extension School Street Ledge / Pine Street Residential Page 2 of 7 BIDA Presentation - Potential Sites for Developers Tour 2014-11-21 Page 3 of 7 BIDA Presentation - Potential Sites for Developers Tour 2014-11-21 Page 4 of 7 BIDA Presentation - Potential Sites for Developers Tour 2014-11-21 Page 5 of 7 BIDA Presentation - Potential Sites for Developers Tour 2014-11-21 Page 6 of 7 BIDA Presentation - Potential Sites for Developers Tour 2014-11-21 34 Franklin Street 0 Pine Street Extension School Street Ledge / Pine Street Residential Page 7 of 7