With no public discussion and prior to the March election the Town Council is moving forward with the creation of a new TIF (Tax increment Finance) District. The first reading of the TIF will be 2/3/2025 and a Public Hearing is listed for 3/3/2025. The March Election is 3/11/2025. Councilor Chairman Chad Franz has already announced he will not seek reelection. Councilor John Farrell is seeking reelection.
The Town Council agenda lists details of the new TIF which is included below, The agenda does not included links to applicable NH RSA’s. Links to RSA’s have been added by the TownUnderground. The town council agenda references ‘Exhibit A’ for additional information, but the agenda does not include ‘Exhibit A’. Once again residents are not given that same information that Councilors have access to.
RESOLUTION 2025-02
A Resolution Relative to
ADOPTION OF THE PETTENGILL ROAD AREA TAX INCREMENT FINANCING
(TIF) DISTRICT
WHEREAS having adopted RSA Chapter 162-K and having found that the construction of additional public infrastructure in this District will serve Public Purposes, the Town of Londonderry establishes the Pettengill Road Area TIF District upon passage of this resolution, in accordance with RSA 162-K:3. The District Boundaries are represented on Exhibit A attached as part of this Resolution; and,
WHEREAS in accordance with RSA 162-K:4 Hearing, the Town represents that it has held a public hearing on March 3, 2025 as required, and has offered to meet with the Londonderry School Board and County Commissioners as required by RSA 162- K:9; and,
WHEREAS in accordance with RSA 162-K:5 – Limitations, the Town finds that the District now adopted conforms with the following requirements:
- The District is less than five (5) percent of the total acreage of the municipality and is less than a total of 10 percent with any other District, there being no others at this time; and
- The District is less than eight (8) percent of the total assessed value of the municipality, and less than sixteen (16) percent of the Districts for which bonds remain outstanding, there being no others at this time; and,
WHEREAS in accordance with RSA 162-K:6 – Development Program and Tax Increment Financing Plan, the Town adopts the Pettengill Road Area TIF Development Program, which contains a Financing Plan, attached as part of this Resolution, and finds that the proposed uses are permissible under the Town and RSA 162-K requirements; and
WHEREAS in accordance with RSA 162-K:7 Grants and Other Sources of Financing, the Town may seek public grants and other financial assistance for the advancement or construction of public infrastructure. The Town may establish other financing options, such as a Special Assessment District (RSA Chapter 49-C) and Economic Revitalization Zones (RSA 162-N), to enhance public benefits and to encourage private investment; and
WHEREAS in accordance with RSA 162-K:8 Issuance of Bonds, the Town may seek public authorizes the Town Manager to seek bonding options as they are presented in the Development Program and Financing Plan, and to find and recommend the best available at that time to meet the Financing Plan goals, for consideration by the voters at the 2026 Town Meeting as a Warrant to Bond; and
WHEREAS in accordance with RSA 162-K:9 Tax Increment Financing Plan, the Town acknowledges and adopts the Pettengill Road Area Tax Increment Financing Plan, which is part of the attached Development Program, and finds that it meets the requirements of RSA 162-K:9; and
WHEREAS in accordance with RSA 162-K:10 Computation of Tax Increments, upon formation of the Pettengill Road Area TIF District, the Town assessors shall determine the current assessed value of the real property within the District, and thereafter comply with the annual requirements of RSA 162-K:10; and
WHEREAS in accordance with RSA 162-K:11 Annual Report, the Town shall prepare and distribute an annual report as required by this section and Town requirements; and
WHEREAS in accordance with RSA 162-K:12 Maintenance and Operations and RSA 162-K:13 Administration, the Town hereby appoints the Town Manager as the District Administrator, and provides for the District’s operation and maintenance per the attached Financing Plan; and
WHEREAS in accordance with RSA 162-K:14 Advisory Board, the Town shall create by Town Council appointment, via a separate resolution, a qualified Advisory Board for the Pettengill Road Area TIF District within thirty (30) days of adoption of the Pettengill Road Area TIF District for the purpose of the requirements of RSA 162-K:14. Unless otherwise designated by vote of the Town Council, the Chair of the
Advisory Board shall be the Town Manager; and
WHEREAS in accordance with RSA 162-K:15 Relocation, the Town does not foresee any displacement or relocation of persons as a result of this Resolution; and
WHEREAS the Pettengill Road Area TIF District will terminate upon action by the Town Council or when the public bonds are repaid.
NOW THEREFORE BE IT RESOLVED by the Londonderry Town Council that pursuant to New Hampshire RSA Chapter 162-K Municipal Economic Development and Revitalization Districts, the Town of Londonderry hereby adopts the Pettengill Road Area TIF District, which shall be in place at the time of the passage of this resolution.
Chad Franz – Chair
Town Council
Sharon Farrell – Town Clerk
A TRUE COPY ATTEST:
03/03/2025