NH District Corp.'s response to the independent Navy Hill Advisory Commission's presentation on Saturday. The response does not address the presentation's main takeaway - that general fund revenue will be diverted to bond repayment.
The response does point out an error - that the commission said there won't be any "affordable housing" in the first development. There will be. They also point out the financial presentation didn't take into account the $15.8 mil purchase price.
Much of NHDC's response centers on the commission not including the "community benefits" (GRTC Center, 280 "affordable" units, $300 mil target for minority contractors). My understanding was the presentation focused on financial risk to the city. Not sure how that's relevant.
This statement also questions the credibility of the independent commission and says NHDC has been denied a response. The first meeting was a marketing pitch from the EDA that highlighted many of the community benefits & there are 20+ pages of responses from the city & developer.
