NASHUA – On Feb. 13, 2018, Nashua Board of Aldermen members voted to sell $15.5 million worth of bonds to build the downtown Performing Arts Center in the former Alec’s Shoes building at the corner of West Pearl and Main streets.

The resolution approved nearly two years ago contained this sentence regarding the requirement that city leaders raise $4 million in private funds for the project: “This resolution shall expire two years from its effective date in the event that $4 million has not been raised prior to that date.”

Now, officials want to formally remove this $4 million mandate. There is a public hearing regarding plans to amend the resolution, scheduled for 7 p.m. Thursday in the boardroom of Nashua High School North, 8 Titan Way.

City leaders have said raising the $4 million is no longer necessary. Instead, they now have a goal of raising $2.5 million.

Just last week, global financial services giant Bank of America – a firm that posted earnings of $29.1 billion in 2019 – announced a $250,000 “anchor grant” for the PAC.

In June, New Hampshire Community Development Finance Authority officials announced a tax credit of $367,500 that would be made available for the center.

Officials now aim to begin construction in September.

Current plans call for it to feature seating for 750, as well as “flat-floor standing room” for up to 1,000. Officials said the project should create 120 jobs.

Spectacle Management, a New England booking agent and performance venue management company, has agreed to operating the center. Plans call for Spectacle to run all aspects of the building, such as bookings, marketing, hiring and managing staff. Officials estimate the center will bring approximately 70,000 people to downtown Nashua per year.

Adam Urquhart may be contacted at 594-1206, or at aurquhart@nashuatelegraph.com.

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