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Laconia authorizes manager to negotiate successor agreement with Guilford for Lakes Business Park
Summary
Council authorized the city manager to negotiate a successor agreement with the town of Guilford for the Lakes Business Park, noting all lots have been sold; proposed terms include a 25% share to Laconia with some funds allocated to capital improvements capped at $1,000,000.
The Laconia City Council voted 6–0 to authorize the city manager to negotiate a successor agreement with the town of Guilford concerning the Lakes Business Park, a multi-jurisdictional economic development area governed by an intermunicipal agreement originally signed in May 2001.
City staff told the council that the park’s lots have been sold and that Guilford voters authorized their selectmen to negotiate a successor agreement. Under the outline discussed at the meeting, Laconia’s share would be 25% of taxes from the properties, with a formula that funnels a portion into a capital improvement program for the park that is capped at $1,000,000; after the cap is met, additional tax share would flow to Laconia.
Councilors asked how residual capital needs would be handled if larger infrastructure work is required. City staff said attorneys would review the successor language to clarify responsibilities for large capital projects and that any negotiated agreement would return to the council for review and approval. The council also set a public hearing on the successor agreement for its February 9, 2026 meeting.
Next steps: city legal counsel will review the draft successor agreement and the manager will negotiate terms with Guilford; the council will consider the proposed successor agreement at a public hearing and subsequent meeting vote.
