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Concord, NH
Concord, NH
Concord has established numerous TIF districts, including the Sears Block TIF DIstrict in downtown Concord. The site of a former Sears department store, an incomplete development in the late 1990s left the buildings partially demolished. The City acquired the block and demolished the remaining structures in 2002. The City and a private developer used TIF, private funds, and other revenue sources to redevelop the block into “Capitol Commons.” Across the City, TIFs have funded roadway, utility, and parking improvements, as well as preparation of sites for new development. TIF improvements have enabled millions of dollars in new taxable value.
BondBuyer.com, “Concord, N.H., Selling $10M Today For Downtown Sears Block Project” (July 20, 2005)
Matt Walsh, City of Concord, “Tax Increment Financing” Concord case studies presentation,
https://www.rochesternh.gov/sites/g/files/vyhlif9211/ f/file/file/rochester_tif_presentation_no_jd_slidesm.pdf
Jack Dugan, Applied Economic Research, “Downtown Lebanon TIF Feasibility Analysis Study Committee Briefing October 12, 2017” with Concord case studies,
https://flyleb.com/DocumentCenter/View/5534/TIF-Meeting-Presentation-10-12-17?bidId
Concord’s Sears Block was either vacant or underutilized for years after the department store left for a suburban mall (top). It sat partially demolished until the City used TIF to ready the site for private development. Now it is called Capitol Commons (bottom) a hotel, parking garage, movie theater, and more. (Images via City of Concord)