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Council authorizes city manager to negotiate successor Lakes Business Park agreement with Gilford
Summary
With all lots sold, Council authorized the City Manager to negotiate a successor inter-municipal agreement with the Town of Gilford for Lakes Business Park. The draft successor would allocate 25% of property taxes to Laconia with a capital improvement account capped at $1 million; Council scheduled a Feb. 9 public hearing.
The Laconia City Council authorized City Manager Kirk Beattie to negotiate a successor to the 2001 inter-municipal agreement governing Lakes Business Park with the Town of Gilford, after learning that all lots in the business park have been sold. The draft successor agreement indicates Laconia would receive 25% of property tax revenue from the park, subject to a capital improvement account that is capped at $1 million; once the cap is reached, the full 25% would flow to Laconia.
Councilor Soucy asked whether fund receipts toward the $1 million cap have been tracked; Manager Beattie said he will look into the current status and will consult legal counsel on clarifying language about capital improvement responsibilities. Councilor Hoffman asked who would pay for capital improvements exceeding the $1 million cap; Manager Beattie said he believes the Town of Gilford would be responsible, and staff will consult legal counsel about adding explicit language.
Councilor Soucy moved to authorize negotiation of a successor agreement; the motion was seconded by Councilor Bogert and passed 6-0. The Council also voted 6-0 to schedule a public hearing on the draft agreement for Feb. 9, 2026.
