[jetskier]

Originally Posted by Paugus

Thank you for providing us with these facts, Jetskier. I remember reading about NH CDFA tax credits (https://patch.com/new-hampshire/conc...ty-development), Downtown Tax Increment Financing funding (http://www.laconiadailysun.com/newsx...o-city-council) and private fundraising, but not anything about a beautification fund and federal grants.

Could this $400,000 in beautification money from Laconia and $500,000 in federal grant money you mention be reserved for Phase 3 and the pending lawsuit?

Hi Paugus,

My understanding is that the $400k donated by the city came from the TIF loans (you have a link in your email which describes the $400k for phase II). I have been told that the money was placed in the budget under "beautification" of down town which is consistent with the projects listed in the linked article. I have talked to a couple of teachers who are upset about the expenditure based upon the lack of money for teacher's salaries; however, I don't know that the money would have been able to be reallocated to other purposes. It is a loan and has to be paid back by the city, so at some level, it affects the city budget as a debt service....read not free money.

The $500k came from a federal grant...All of the money was spent on Phase II (total construction cost of $1M). The federal grant is essentially free money. Private fundraising provided $100k of the costs. The WOW Org is a 501c nonprofit and their financials are public record. Their EIN number is 45-0509781 if you want to look at 990s or other records.

Hope this helps.

Jetskier