Hooksett EDAC outlines business outreach for Exit 10 TIF and sewer extension

At its meeting, the Hooksett Economic Development Advisory Committee reviewed phases of the town’s Tax Increment Financing (TIF) plan for the Exit 10 area and discussed outreach to businesses that would benefit from sewer and water infrastructure improvements.

Grant (economic development staff) and other members summarized the TIF district’s fiscal picture: the committee cited about $206 million in baseline assessed value within the district and described roughly $36 million in increased assessed value since earlier investments. EDAC members said that captured increment revenue from past improvements — discussed in the meeting as roughly $624,000 in increment receipts in one example — has been leveraged previously toward capital projects such as pump station upgrades.

Why it matters: committee members said public infrastructure (gravity sewer, river crossings, pump station upgrades) is necessary for some business expansions around Exit 10, and getting a handful of major property owners on board could accelerate private investment and strengthen voter support for bonding to fund remaining phases.

EDAC discussed two outreach tracks. One track is direct private outreach to large property owners and managers (for example, chains or developers) to explain immediate financial advantages: avoided future septic replacement costs, the possibility of federal bonus depreciation for business investments, and faster return on investment if businesses invest now. The second track is public education explaining the TIF mechanics — that the general fund continues to receive baseline tax revenue while captured increment funds the TIF bond — and describing project phases so voters understand infrastructure benefits.

Committee members recommended compiling a list of properties in the district; staff agreed to check building records for septic system ages and recent maintenance costs to better target conversations. Members said connecting property owners with local lenders and showing specific maintenance savings would make outreach more persuasive. EDAC also asked staff to prepare maps, a one‑page fact sheet about phases and benefits, and a suggested list of priority businesses to contact.

EDAC members said experience from earlier local projects (examples cited included prior sewer extensions and private participation) demonstrates that early buy‑in from major local businesses can be decisive. The committee did not take a formal vote on bonding or TIF amendments but set outreach tasks for staff and volunteer members.

"If we can get a couple of these people together ... I think that the residents will get behind it," one member said when discussing business engagement and voter confidence.

EDAC assigned staff to produce the property list, septic‑age checks from building files, and a public‑facing slide deck for the next meeting and for use in public information sessions.