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Planning Board backs motion to support renewing expiring business tax incentives
Summary
At a Sept. 22 Hooksett Planning Board workshop, members heard EDAC briefings on two expiring tax incentives — an ERZ designation and a local commercial-industrial property tax exemption tied to RSA provisions — and voted to express the board's support for renewing them after updating eligible property lists.
The Hooksett Planning Board on Monday reviewed recommendations from the town's Economic Development Advisory Committee and voted to support renewing expiring business tax incentives, including one commercial-industrial property tax exemption that automatically lapses five years after adoption.
The board voted after an EDAC briefing that described two related items: an Enterprise Revitalization Zone (ERZ) designation the Business Finance Authority (BEA) asked the town to re-evaluate, and a local implementation of the commercial-industrial tax exemption (statutory references discussed in the meeting were RSA provisions 7280 through 7283). EDAC members told the board the state ERZ guidance asks municipalities to confirm whether underutilized parcels remain that justify keeping the zone in place.
EDAC representatives said the local commercial-industrial exemption was adopted in March 2021 and therefore is scheduled to expire in March 2026. EDAC asked the board to support two possible changes: (1) refresh the inventory of qualifying lots to remove parcels that have already been developed and add new candidate parcels, and (2) consider extending the exemption period (EDAC informally discussed moving to a six- or seven-year effective term) and adjusting the town's share of the allowed exemption (the state allows up to a 50% exemption; the current local authorization is 25% and EDAC discussed a possible increase to 30% as the local maximum).
Board members discussed utilization: EDAC reported only a small number of projects have used the exemptions so far (the meeting cited Platinum Truck and a handful of state-level ERZ applicants). Staff said reapplication at the town level would be quick because the town has already authored the original designation; the principal work EDAC recommended is housekeeping of the qualifying-lot list and more proactive outreach to property owners and targeted businesses.
A planning board motion carried to record the board's support for renewing the expiring incentives, with two members making the motion and second and a unanimous aye vote recorded. Board members said they want EDAC to refine the list of parcels (remove developed lots, add likely candidates) and bring a proposed package that could be forwarded to the Town Council for formal action.
The meeting did not itself change the incentives' statutory terms; the planning board vote was a statement of support directing staff/EDAC to follow up with updated parcel lists and a recommendation to the council.
Board members said they expect EDAC to continue business outreach around TIF and tax-incentive tools and to return with recommended language and parcel lists the board can review before any council referral.
Ending: Staff and EDAC agreed to refresh the qualifying-lot inventory and continue outreach; EDAC will present recommended parcel updates and proposed incentive parameters to the planning board before the council considers formal renewal or extension.
