![]() The property tax revenue from these assessed values continues to flow to the city’s General Fund. When a TIF district is authorized, the assessed values and property tax revenues within the TIF are essentially frozen. The Waterfront TIF District was authorized by the City Council in February 2015, which includes the 29-acre city-owned property and nearby private properties. Part of the land development agreement for the sale of the waterfront property to the private developer includes guaranteed tax-assessed values. The repayment of the bonds would be from the sale of the publicly-owned waterfront parcel to the developers for $3,372,500 and tax increments collected by properties included in the 83-acre Waterfront Tax Increment Financing District. The Waterfront Tax Increment Finance Advisory Board voted unanimously to recommend the City Council approve the bonding and appropriation for the waterfront site improvements when it met on April 10 to review the proposal.Īccording to the City Council resolution background material and as presented to the Waterfront TIF Advisory Board, bonding would be issued as needed to meet the cash flow requirements of the public improvements and not be issued at once. Of the authorized bonding, $4.8 million has been issued, with $2.75 million issued in FY2020 and $2.06 million issued in FY2022. The City Council also authorized bonding in waterfront projects in FY2017, 2018, 2021, 2022, and 2023 CIPs. If approved, the $6 million in additional bonding would bring the grand total to $24.6 million in bonding authorization, including $4 million authorized in the adopted six-year FY2024-2029 Capital Improvements Program. The additional bonding and appropriation is needed for the Council to award the bid as currently presented. One is to authorize an additional $6 million in bonding for public improvements at the waterfront the other is to award the contract bid for the public improvements to the site. One hour from Boston, Portland, Maine, New Hampshire's Lake Winnipesaukee, and within 30 minutes from New Hampshire beaches, Dover offers activities year round and is an ideal destination for travelers.On the City Council’s agenda at the April 26 meeting are two resolutions related to the waterfront development. The Garrison also serves as a pleasant stopping point along the way to the scenic White Mountains and Lakes Region. The hotel is less than one mile from Dover's bustling downtown center and a short drive from the University of New Hampshire and downtown Portsmouth. The hotel lobby features a communal table, comfortable sitting areas, a large fireplace, and an outdoor patio and lawn area with plans for a fire pit for year-round gathering. The Garrison offers travelers a range of guest room types, fitness center and indoor pool, business center, free wireless internet, free breakfast, pet-friendly accommodations, and local area recommendations to help make your stay more enjoyable. As soon as guests enter the lobby, they can learn more about Dover shipbuilding, mercantilism, and the colonial era through exhibits on display from The Woodman Institute, a Dover museum dedicated to preserving local history. Throughout the hotel, the area's colorful history comes to life through design and décor. and takes its name from the city's historic garrison buildings. The 66-room upscale boutique hotel was inspired by the rich history of Dover, N.H. (NYSE: CHH), one of the world's leading hotel companies. The Garrison Hotel, a new boutique property in the city of Dover, N.H., is the latest independent hotel to join the Ascend Hotel Collection from Choice Hotels International, Inc. ![]()
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