Hooksett Economic Development Advisory Committee Meeting - November 19, 2025

On November 19, 2025, the Hooksett Economic Development Advisory Committee met to discuss the proposed Tax Increment Finance (TIF) infrastructure project, hear economic development project updates, and plan voter outreach for the TIF bond. Attending were members Jim Sullivan, Lisa Lally, Dave Scarpetti, Anthony Poole, Alden Boachman, and Justin Tringali, with staff members Grant and Andre.

Discussion Items

• TIF project scope and costs: The committee reviewed the current TIF plan, which includes roughly $12 million for a pump station upgrade, a pipe under the river, and a pump station on the far side, plus an estimated $28 million for full Exit 10 area work, including pipe installation and pavement work. Staff clarified that the planned $12.5 million bond is part of the $28 million plan figure. Alden Boachman questioned how solid the $28 million estimate is and said the number must be refined and controlled before moving forward.
• Potential Sewer Department contribution: Ken from the Sewer Department indicated there may be funds to contribute to the Martins Ferry force main upgrades. If that contribution is applied, the bond amount could drop from $12.5 million to $7.25 million, and the total project cost from about $28 million to about $23 million.
• Business contribution math: Anthony Poole reported that pumping costs about $400 per pump and many businesses pump twice a week, equaling $800 per week or about $41,600 per year. He calculated that a $1 million business contribution would take about 24 years to recoup, and a $2 million contribution about 48 years, making it a 'massive uphill battle' to ask businesses such as Wendy's, Coles, Irving, Walmart, and Bass Pro for large contributions.
• Septic replacement perspective: Jim Sullivan said the committee should also factor in the cost of replacing aging septic systems, roughly $100,000-$120,000 depending on size, rather than only annual pumping costs.
• Development opportunity framing: A member argued the investment can be framed as an opportunity for landowners to convert unused parking-lot space into cash through land leases, use bonus depreciation, and attract local businesses that are 'bursting at the seams' and interested in Exit 10 because Hooksett Road is congested.
• TIF financing capacity: Staff reported approximately $2 million is currently captured in the TIF district. The committee agreed that knowing the annual captured increment is essential because it must be enough to cover annual bond payments. Staff said they would get the exact annual yield and projections.
• Tax impact message: Members discussed that the TIF is designed so voting yes on the bond should not increase taxes, while voting no keeps the district open longer and prevents captured increment from being used for tax relief or new development.
• Voter outreach: The committee planned a TIF 101 educational forum in January, possibly at the library, and agreed to use social media, tax-bill inserts, local newsletters, and election-day informational signs to explain the TIF. Andre offered to share his article explaining the TIF, and members discussed using short, frequent messages similar to police department outreach.
• Other funding mechanisms: The committee briefly considered impact fees and sewer connection fees, but staff explained that New Hampshire does not have a local-option mechanism to simply raise taxes on TIF properties. A property owner had previously asked why the town could not raise his taxes to pay for the project.

Project Updates

• Marmon is scheduled for a Technical Review Committee meeting on Monday and expects to hire a consulting engineer; the project could bring about 210 jobs on three shifts with 24/7 operations.
• Granite Woods' approved 500,000-square-foot building has been divided into condominium sections, and a tenant is reportedly interested in about 100,000 square feet. No building permit has been filed yet.
• The Old Dominion site closed in October for $5.7 million for the land and is within the TIF district; new development would increase the captured increment.
• The Richmond Company may have a tenant for the pad site across from Old Dominion.
• The planned sewer/water work and road reconstruction would also replace an aging asbestos cement water pipe.
• Panera construction is progressing, and other small developments were noted.
• A Planning Board hearing is scheduled for December 1 to consider removing some oversaturated business types, such as car washes, from the performance zone.

Other Business

• The incoming president of the Hooksett Flower Club, Bonnie Pierce, proposed creating a 'river of flowers' attraction on the pedestrian bridge and offered to help beautify the future rotaries and participate in fundraising. The committee was receptive to including the club.

Key Outcomes

• No formal vote was taken on the TIF project. The committee agreed to continue refining cost estimates, obtain annual TIF increment data, and explore an amended contract with Underwood to update the TIF plan.
• The committee will work with the library and town administrator to set a January date for TIF 101 and distribute educational inserts with December tax bills.
• The meeting ended with a motion to adjourn and a second.