The City of Nashua’s mayor is hitting the Nashua taxpayers again. Tonight the mayor is bringing up a new PILOT for the Bronstein Redevelopment.
The City of Nashua will be receiving on average 50% of property taxes, on the Bronstein Redevelopment, over the period of 15 years which is a concession of approx. $3.7 Million Dollars per the fiscal note R-21-136.
But wait the Nashua taxpayers will lose much more:
- Developer to pay for tax years 2022, 2023, and 2024 – $0 taxes
- Developer to pay for the tax year 2025 – $225,000 -escalating at 3% annual thereafter.
- Waive up to $100,000 in Building Permit Fees
- Waive up to $125,000 in School Impact Fees
- Waive up to $60,000 in Wastewater Service Permit Fees
- The city of Nashua will pay up to $55,000 – repave and stripe Myrtle St
- The city of Nashua shall give $500,000 in HOME Funds to Bronstein in July 2021
- The city of Nashua shall give $200,000 in HOME Funds to Bronstein in July 2022
As usual, Mayor Donchess is not thinking about the Nashua taxpayers at all.