Balsams developer Les Otten outlined his proposal to create a tax assessment district with Coos County at Monday's meeting of the county delegation. Listening are Coos County Commissioners Paul Grenier of Berlin and Rick Samson of Stewartstown (right).(BARBARA TETREAULT PHOTO)
Balsams developer Les Otten outlined his proposal to create a tax assessment district with Coos County at Monday's meeting of the county delegation. Listening are Coos County Commissioners Paul Grenier of Berlin and Rick Samson of Stewartstown (right).(BARBARA TETREAULT PHOTO)
WEST STEWARTSTOWN — Balsams developer Les Otten told the Coos County delegation Monday his hopes of redeveloping the historic hotel depend on the creation of a tax assessment district.
He is asking the state Legislature to amend Senate Bill 30 to allow Coos County to issue the $28 million bond instead of the N.H. Business Finance Authority. Under the amended legislation, however, Coos County would not provide a loan guarantee but would simply be the issuer of the bond to a private lender. The tax assessment district allows property taxes generated by the new construction to be used to pay off the $28 million loan.
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
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