TONIGHT - Stratham's Opportunity

The Stratham Select Board is hosting an information session designed to define and discuss the opportunity in Stratham's Gateway zone; explain its significance to taxpayers and the future of the Town; and describe a key financial tool to assist in bringing it to fruition, a Tax Increment Financing (TIF) district.

For more information, please visit:
https://www.strathamnh.gov/home/news/special-edition-select-board-newsle...

Agenda

1.  Introduction, Welcome and Purpose – Michael Houghton, Chair
2.  Preparing for Implementation – Joseph Lovejoy, Vice-Chair
3.  What is the Gateway Vision?
4.  How does the Tax Increment Financing Tool work?
5.  Q&A and Discussion

Additional information:

The Board is preparing to recommend the Town adopt a TIF district and plan at the upcoming Town meeting.  This step is key to preserving options for the Town’s future and adopting a district and plan is a first step. This step does not include seeking bonding authorization to fund improvements in the District.  The tool does make it more likely it will attract redevelopment by private parties in the district and give the Town an option (at a future Town meeting beyond 2020) to decide to participate (such as through authorizing borrowing to introduce critical infrastructure needed to realize the desired uses). 

At its core, the Gateway District’s purpose is to provide many benefits to the Town.  The redevelopment of the Gateway into denser development with more uses will not only increase the tax base, but also provide a number of other benefits: ensure residents have more housing choices, promote upgrades to existing or introduce new amenities, allow for more civic uses and gathering places, and introduce modern development that better cares for the environment.  It is worth noting, a more valuable commercial Gateway district will also help ensure the future costs of the great services and programs discussed below are shared more widely and beyond our residential tax base.