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Home » US Law » 2022 New Hampshire Revised Statutes » Title XII - Public Safety and Welfare » Title 162-K - Municipal Economic Development and Revitalization Districts

Section 162-K:1 – Local Option.

    162-K:1 Local Option. – Any city or town may adopt this chapter and shall thereafter have all the authority, powers, duties and responsibilities set forth in this chapter. I. A city may adopt this chapter by majority vote of the legislative body of the city after notice and hearing as set forth in RSA […]

Section 162-K:10 – Computation of Tax Increments.

    162-K:10 Computation of Tax Increments. – I. Upon formation of a development district, the assessors of the municipality in which it is situated shall determine the current assessed value of the real property within the boundaries of the development district. The current assessed value so determined shall be known as the "original assessed value." […]

Section 162-K:11 – Annual Report.

    162-K:11 Annual Report. – The municipality’s annual report shall contain a financial report for any development district in the municipality. The report shall include at least the following information: the amount and source of revenue of the district, the amount and purpose of expenditures, the amount of principal and interest on any outstanding bonded […]

Section 162-K:12 – Maintenance and Operation.

    162-K:12 Maintenance and Operation. – Maintenance and operation of the systems and improvements constructed under this chapter shall be under the supervision of the district administrator. The cost of maintenance and operation of the non-revenue-producing facilities together with excess of costs of operation and maintenance of revenue-producing facilities, if any, shall be charged against […]

Section 162-K:13 – Administration.

    162-K:13 Administration. – The municipality may create a department or designate an existing department or office or agency or municipal housing and redevelopment authority, or form a corporation under RSA 292, to administer development districts. The district administrator may, subject to such rules and limitations as may be adopted by the governing or legislative […]

Section 162-K:14 – Advisory Board.

    162-K:14 Advisory Board. – I. The legislative body of the municipality shall create an advisory board for each development district that ensures fair representation of business and community interests. The board shall consist of such number of members appointed or elected as determined by the legislative body. A majority of members shall be owners […]

Section 162-K:15 – Relocation.

    162-K:15 Relocation. – Unless they desire otherwise, provision shall be made for relocation of all persons who would be displaced by a proposed development district prior to displacement in accordance with the provisions of RSA 162-K:6. Prior to undertaking any relocation of displaced persons, the municipality shall insure that housing and other facilities of […]

Section 162-K:16 – Joint Municipal Development and Revitalization Districts.

    162-K:16 Joint Municipal Development and Revitalization Districts. – Municipalities may enter into an agreement under RSA 53-A to jointly establish a municipal development district that may include land within the several municipalities using the procedures in this chapter. Tax revenues and expenditures may be allocated as provided in the agreement. Source. 2019, 318:3, eff. […]

Section 162-K:2 – Definitions.

    162-K:2 Definitions. – In this chapter: I. "Budget submission date" has the meaning set forth under RSA 273-A:1, III. II. "Development district" means a specific area within the corporate limits of any municipality which has been so designated and separately numbered by the legislative body of said municipality acting under this chapter. III. "Development […]

Section 162-K:3 – Authorization; Initial Adoption.

    162-K:3 Authorization; Initial Adoption. – A municipality which adopts this chapter shall thereafter be authorized to establish one or more development districts. For each such district, the municipality shall establish a development program and a tax increment financing plan. A municipality that has not previously adopted this chapter may carry out the planning and […]

Section 162-K:4 – Hearing.

    162-K:4 Hearing. – Prior to adopting this chapter or designating any development district, a hearing on the subject shall be conducted in the municipality. The hearing shall be conducted by the governing body. The hearing shall be held at least 15 days prior to the date on which action on the proposal is scheduled […]

Section 162-K:5 – Establishment of Districts; Limitations.

    162-K:5 Establishment of Districts; Limitations. – Upon a finding that such action will serve public purposes, the legislative body of the municipality may create, within its jurisdiction, development districts. The area of a district may be enlarged following the date of designation of the district. Municipalities establishing development districts shall comply with one of […]

Section 162-K:6 – District Establishment and Development Programs.

    162-K:6 District Establishment and Development Programs. – A municipality which has adopted this chapter and which intends to establish a development district shall, in addition to establishing the district, establish a development program under this section and a tax increment financing plan under RSA 162-K:9 and 10. I. The development program shall contain a […]

Section 162-K:7 – Grants.

    162-K:7 Grants. – A municipality may accept grants or other financial assistance from the government of the United States, the state of New Hampshire or any other entity to do studies and to construct and operate the public improvements authorized by this chapter. Source. 1979, 175:2, eff. Aug. 5, 1979.

Section 162-K:8 – Issuance of Bonds.

    162-K:8 Issuance of Bonds. – The municipality may authorize, issue and sell general obligation bonds, which shall mature within 30 years from the date of issue, to finance the acquisition and betterment of real and personal property needed to carry out the development program within the development district together with all relocation costs incidental […]

Section 162-K:9 – Tax Increment Financing Plan.

    162-K:9 Tax Increment Financing Plan. – The municipality shall adopt a tax increment financing plan for any development district established under this chapter. The plan shall allocate use of tax increments for retirement of bonds and notes, operation, maintenance and improvements in the district and for general municipal purposes. I. A tax increment financing […]