agenda - home page | the town of durham new hampshire · 1 16 5 27 13 marden way forster, john 2015...

TOWN OF DURHAM 8 NEWlvtARKET ROAD DURHAM, NH O 824

Ti I: 03/868-5571 Fax: 603/868-1858

DURHAM TOWN COUNCIL MONDAY, DECEMBER 18, 2017

DURHAM TOWN HALL - COUNCIL CHAMBERS

6:00PM

In accordance with RSA 91-A:2 I (b): Consultation with legal counsel

OTE: TJ,i meeting i uot open to the public.

AGENDA DURHAM TOWN COUNCIL

MONDAY, DECEMBER 18, 2017 DURHAM TOWN HALL - COUNCIL CHAMBERS

7:00PM

NOTE: The Town of Durham requires 48 hours notice if special communication aids are needed.

I. Call to Order

II. Approval of Agenda

III. Special Announcements - None

IV. Public Comments (*)

V. Approval of Minutes - October 2, 2017

VI. Councilor and Town Administrator Roundtable

VII. Unanimous Consent Agenda (Requires unanimous approval. Individual items may be removed by any councilor for separate discussion and vote)

Shall the Town Council, upon recommendation of the Assessor and Administrator, approve FY 2017 property tax abatements in the amount of $61,250 for Veterans Tax Credit?

Q Pnntud on Recycled Paper

Durham Town Council Meeting Agenda December 18, 2017 -

VIII. Committee Appointments- None

IX. Presentation Items Northern New England Passenger Rail Authority (NNEPRA) - Patricia Quinn

. X. Unfinished Business Shall the Town Council, upon recommendation of the Administrator, approve a Payment in Lieu of Taxes (PILOT) agreement pursuant to NH Revised Statutes Annotated (RSA) 72:23-n between the Town of Durham and Riverwoods, and authorize the Administrator to sign all associated documents necessary to effectuate said agreement and bring this matter to closure?

XI. New Bmdness Other Business

XII. Nonpublic Session (if required)

XIII. . Extended Councilor and Town Administrator Roundtable (if required)

XIV. Adjourn (NLT 10:30 PM)

(*) The public comment portion of the Council meeting is to allow members of the public to address matters of public concern regarding town government for up to 5 minutes. Obscene, violent, disruptive, disorderly comments, or those likely to induce violence, disruption or disorder, are not permitted and will not be tolerated. Complaints regarding Town staff should be directed to the Administrator. ·

TO\!V'. OF DURHAM 8 EWMARKET R 'AD DURHAM, NH O 824

Tel: 60, /868-5571

AGENDA ITEM: # 7 Fax: 60 /868-1858DATE: December 18, 2017

COUNCIL COMMUNICATION

INITIATED BY:

AGENDA ITEM:

CC PREPARED BY:

PRESENTED BY:

AGENDA DESCRIPTION:

Jim Rice, Assessor Lorrie Pitt, Tax Collector

SHALL THE TOWN COUNCIL, UPON RECOMMENDATIONS OF THE TOWN ASSESSOR AND ADMINISTRATOR, APPROVE FY 2017 PROPERTY TAX ABATEMENTS TOTALING $61,250.00 PERTAINING TO VETERANS' TAX CREDIT?

Jim Rice, Assessor

Todd Selig, Administrator Jim Rice, Assessor Lorrie Pitt, Town Clerk-Tax Collect r

Due to a clerical error while calculating the second half tax warrant, when the tax bills were printed most of the veterans who were supposed to receive a tax credit on their final property tax bill (December 2017) did not. Based on the Tax Collector's investigation, her computer software (Muni Smart) did not have the correct percentage amount in the system for these veterans' tax credit. As a result, they did not receive their tax credit on their final property tax bill and must be abated.

LEGAL AUTHORITY: RSA 76:16 describes the process for the apportionment, assessment, and abatement of property taxes.

LEGAL OPINION: N/A

FINANCIAL DETAILS: As part of the FY 2017 budget, the Town of Durham has appropriated $125,000 to be used for tax abatement/ appeal purposes. To date, the Town has abated $799.74 to taxpayers who have appealed their assessments with the municipality, to the Board of Tax and Land Appeals or Superior Court. The Assessor recommends abating $61,250 to these veterans who did not receive a tax credit on their final tax bill .

... . \..J Pnn/ed on Racyc!e<t Pilper

Council Communication, 12/18/17 - Page 2 Re: Approve FY 2017 Veteran Tax Credit Abatements

SUGGESTED ACTION OR RECOMMENDATIONS:

MOTION: The Durham Town Council does hereby, upon recommendation of the Assessor and Administrator, approve FY 2017 property tax abatements totaling $61,250.00 (a outlinerl i,, the nttached prcad ·J1eet) pertaining to those veterans who did not receive their tax credit noted above.

MAP LOT SUBLOT ADDRESS NAME YEAR CODE

TOTAL EXEMPTION

AMOUNT TOTAL CREDIT

AMOUNT CREDITED JUNE BILL

AMOUNT CREDITED DEC. BILL

AMOUNT TO BE

ABATED 1 4 7 5 ADAMS CIRCLE HEUCHLING REV TRUST, SARA B 2004 VTCR VETERAN'S $500 $250 $0 $250

1 4 13 7 ROCKY LANE CAMPBELL REV TRUST, MARY-LOU 2006 VTCR VETERAN'S $500 $250 $0 $250 1 5 2 11 DAVIS AVENUE COLBY, G RITA 2004 VTCR VETERAN'S $500 $250 $0 $250 1 5 4 15 DAVIS AVENUE ROBINSON REV LIVING TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 1 5 14 16 DAVIS AVENUE FLEMING, RYAN 2010 VTCR VETERAN'S $500 $250 $0 $250 1 6 6 37 EDGEWOOD ROAD FITZHENRY FAMILY INVEST TRUST 2008 VTCR VETERAN'S $500 $250 $0 $250 1 7 2 107 MADBURY ROAD TOBIAS, HARRY J 2017 VTCR VETERAN'S $500 $250 $0 $250 1 9 13 133 MADBURY ROAD CONRAD, NOAH CHANNING 2008 VTCR VETERAN'S $500 $250 $0 $250 1 9 38 4A HAMPSHIRE AVENUE LUFT REV TRUST, KAROLA 2013 VTCR VETERAN'S $500 $250 $0 $250 1 9 48 6 SCOTLAND ROAD RICHARD REV TRUST, HENRI J 2012 VTCR VETERAN'S $500 $250 $0 $250 1 12 2 128 MADBURY ROAD PALMATIER REV LIVING TRUST, JA 2007 VTCR VETERAN'S $500 $250 $0 $250 1 12 3 124 MADBURY ROAD EASTMAN, PAUL 2007 VTCR VETERAN'S $500 $250 $0 $250 1 13 10 106 MADBURY ROAD BURTON FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 1 13 14 53 EDGEWOOD ROAD WEST, PAUL T & 2004 VTCR VETERAN'S $500 $250 $0 $250 1 13 21 98 MADBURY ROAD JONES, KENNETH 2004 VTCR VETERAN'S $500 $250 $0 $250 1 13 25 104 MADBURY ROAD BAUMGARDT, DAREN 2004 VTCR VETERAN'S $500 $250 $0 $250 1 14 7 25 EMERSON ROAD CHRISTENSEN REV TRUST, MARGARE 2004 VTCR VETERAN'S $500 $250 $0 $250 1 16 2 48 EDGEWOOD ROAD LOMBARD, GEOFFREY D 2004 VTCR VETERAN'S $500 $250 $0 $250 1 16 2 48 EDGEWOOD ROAD LOMBARD, GEOFFREY D 1999 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 1 16 5 24 7 MARDEN WAY DROOKER REV TRUST, MICHAEL S 2014 VTCR VETERAN'S $500 $250 $0 $250 1 16 5 27 13 MARDEN WAY FORSTER, JOHN 2015 VTCR VETERAN'S $500 $250 $0 $250 1 16 6 11 24 FITTS FARM DRIVE LUBRANO, ALICE M 2017 VTCR VETERAN'S $500 $250 $0 $250 1 16 6 19 15 FITTS FARM DRIVE GRIMBILAS, GEORGE 2014 VTCR VETERAN'S $500 $250 $0 $250 1 16 7 18 13 FITTS FARM DRIVE HERBST LIV TRUST, PATRICIA P 2006 VTCR VETERAN'S $500 $250 $0 $250 1 16 7 4 10 FITTS FARM DRIVE HARPER LIVING REV TRUST, BERYL 2015 VTCR VETERAN'S $500 $250 $0 $250 1 16 7 5 12 FITTS FARM DRIVE FORBES, TERRY G 2010 VTCR VETERAN'S $500 $250 $0 $250 1 16 7 7 16 FITTS FARM DRIVE LARSON JR, PHILIP E 2004 VTCR VETERAN'S $500 $250 $0 $250 1 16 7 7 16 FITTS FARM DRIVE LARSON JR, PHILIP E 2004 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 1 16 8 9 FITTS FARM DRIVE WEINSTOCK, LEONARD M 2005 VTCR VETERAN'S $500 $250 $0 $250 1 16 14 18 EMERSON ROAD NADEAU, STEPHEN E 2008 VTCR VETERAN'S $500 $250 $0 $250 1 16 15 16 EMERSON ROAD SANBORN, GARRETT G 2015 VTCR VETERAN'S $500 $250 $0 $250 1 16 16 14 EMERSON ROAD ROONEY, JON A 2016 VTCR VETERAN'S $500 $250 $0 $250 1 16 16 14 EMERSON ROAD ROONEY, JON A 2016 VET2 VET CREDIT $500 $250 $250 $0

1 16 20 10 24 FELLOWS LANE GRIFFIN LIVING TRUST, JANICE M 2017 VTCR VETERAN'S $500 $250 $0 $250

1 16 20 2 3 FELLOWS LANE ELSON, JEAN 2017 VTCR VETERAN'S $500 $250 $0 $250

1 16 23 12 26 PERLEY LANE FORD FAMILY 2007 TRUST 2015 VTCR VETERAN'S $500 $250 $0 $250

1 20 17 72 MADBURY ROAD NICOLOFF REV TRUST, PHILIP L 2004 VTCR VETERAN'S $500 $250 $0 $250 1 20 20 B 44 EDGEWOOD ROAD ZEIS TRUST, ELIZABETH J 2004 VTCR VETERAN'S $500 $250 $0 $250 2 3 9 16 EDGEWOOD ROAD TENPAS, TIMOTHY 2009 VTCR VETERAN'S $500 $250 $0 $250 4 20 8 B 24 COE DRIVE CAMPBELL FAMILY REV TRUST 2013 VTCR VETERAN'S $500 $250 $0 $250 4 20 11 34 COE DRIVE WEINER, MICKEY 2004 VTCR VETERAN'S $500 $250 $0 $250 5 1 12 3 SMITH PARK LANE HALL REV TRUST, WILLIAM F 2004 VTCR VETERAN'S $500 $250 $0 $250 5 4 6 27 SCHOOLHOUSE LANE BURROWS REV LIVING TRUST, BEVE 2004 VTCR VETERAN'S $500 $250 $0 $0 unapplied due to elderly exemption

5 5 8 15 OLD LANDING ROAD MORIARTY JR, THOMAS B 2004 VTCR VETERAN'S $500 $250 $0 $250 5 6 4 10-12 OLD LANDING ROAD LINSKY LIVING TRUST 2010 VTCR VETERAN'S $500 $250 $0 $250 6 2 9 17 FOSS FARM ROAD SANDLER TRUST, MELVIN 2004 VTCR VETERAN'S $500 $250 $0 $250 6 2 12 8 RYAN WAY THOMPSON FAMILY TRUST VTCR VETERAN'S $500 $250 $0 $250 6 2 17 17 ORCHARD DRIVE SMITH TRUST, M D & L E K 2004 VTCR VETERAN'S $500 $250 $0 $250 6 2 19 19 ORCHARD DRIVE O'LEARY, DAVID E & CATHERINE C 2004 VTCR VETERAN'S $500 $250 $0 $250 6 2 25 31 ORCHARD DRIVE MERCIER, RENEE R 2010 VTCR VETERAN'S $500 $250 $0 $250 6 2 30 10 STEVENS WAY BOSTROM FAMILY REV LIV TRUST, 2005 VTCR VETERAN'S $500 $250 $0 $250 6 2 33 4 STEVENS WAY MOORE FAMILY REV TRUST 2015 VTCR VETERAN'S $500 $250 $0 $250 6 3 11 26 MILL ROAD PIPARO, JASON 2016 VTCR VETERAN'S $500 $250 $0 $250 6 3 18 F 13 MILL ROAD #6 MERRILL, STEVEN D 2017 VTCR VETERAN'S $500 $250 $0 $250 6 3 23 2 GARDEN LANE GGA NOMINEE TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 6 3 26 27 MILL ROAD WHEELER, DOUGLAS 2004 VTCR VETERAN'S $500 $250 $0 $250 6 4 1 10 GARDEN LANE EVANS REV TRUST, DANE N 2004 VTCR VETERAN'S $500 $250 $0 $250 6 4 17 6 HOITT DRIVE LINDEN REV TRUST, ALLEN VTCR VETERAN'S $500 $250 $0 $250 6 4 18 8 HOITT DRIVE WEILAND REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 6 4 27 16 OYSTER RIVER ROAD FROST FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 6 5 7 34 OYSTER RIVER ROAD MILLER, EDMUND G 2004 VTCR VETERAN'S $500 $250 $0 $250 6 5 10 40 OYSTER RIVER ROAD HOTALING, ALTON S 2004 VTCR VETERAN'S $500 $250 $0 $250 6 5 16 14 THOMPSON LANE SF REALTY TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 6 5 18 8 MAGRATH ROAD FAHY REV. TRUST, JAMES C 2004 VTCR VETERAN'S $500 $250 $0 $250 6 5 39 27 OYSTER RIVER ROAD MCCANN FAMILY 2007 TRUST 2009 VTCR VETERAN'S $500 $250 $0 $250 6 5 45 35 GARDEN LANE PIESTRAK, LOUIS J 2013 VTCR VETERAN'S $500 $250 $0 $250 6 5 47 31 GARDEN LANE SMITH, LESLEY A 2017 VTCR VETERAN'S $500 $250 $0 $250 6 6 14 14 FACULTY ROAD TREGEA FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 6 7 9 51 MILL POND ROAD HEILBRONNER REV TRUST, PHYLLIS 2004 VTCR VETERAN'S $500 $250 $0 $250 6 7 12 51 OYSTER RIVER ROAD LAUTEN REV TRUST, ALICE D 2004 VTCR VETERAN'S $500 $250 $0 $250 6 7 15 17 THOMPSON LANE LOWY FAMILY REVOCABLE TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 6 7 16 15 THOMPSON LANE LAPOLICE, MARY 2004 VTCR VETERAN'S $500 $250 $0 $250 6 7 16 15 THOMPSON LANE LAPOLICE, MARY 2004 VET2 VET CREDIT $500 $250 $250 $0 6 7 19 15 BURNHAM AVENUE NEUHOFF REV TRUST, BLANCHE F 2004 VTCR VETERAN'S $500 $250 $0 $250 6 7 29 44 MILL POND ROAD LONGE, HEATHER 2016 VTCR VETERAN'S $500 $250 $0 $250 6 7 40 5 THOMPSON LANE VALLERY, EDMUND 2004 VTCR VETERAN'S $500 $250 $0 $250 6 9 5 26 NEWMARKET ROAD PILAR FAMILY TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 6 12 9 61 NEWMARKET ROAD LE RAY, DIANE M 2004 VTCR VETERAN'S $500 $250 $0 $250 6 12 13 75 NEWMARKET ROAD SMITH, KARL W. 2006 VTCR VETERAN'S $500 $250 $0 $250 7 1 10 101 MILL ROAD GRAHAM, JOHN D 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 13 1 BARTLETT ROAD ROGERS, MARJORIE S 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 14 3 MOHARINET WAY PETRIE, RICHARD 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 29 32 WOODRIDGE ROAD CHINBURG REV TRUST, ELLEN D 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 45 31 WOODRIDGE ROAD BECHTELL REV TRUST, DOLORES H 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 51 19 WOODRIDGE ROAD HORNBECK, JAMES 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 53 15 WOODRIDGE ROAD LANG FAMILY REV LIVING TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 54 13 WOODRIDGE ROAD REECE REV TRUST, SARAH R 2004 VTCR VETERAN'S $500 $250 $0 $250 7 1 85 10 MESERVE ROAD HOLMES TRUST, LYNN A 1987 VTCR VETERAN'S $500 $250 $0 $250 7 1 87 16 MESERVE ROAD MCDONOUGH FAMILY REV TRUST 2013 VTCR VETERAN'S $500 $250 $0 $250 7 2 1 85 MILL ROAD MULLIN, THOMAS 2004 VTCR VETERAN'S $500 $250 $0 $250

8 1 6 6 PINECREST LANE LARSON REV LIV TRUST, DAVID & 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 6 6 PINECREST LANE LARSON REV LIV TRUST, DAVID & 2004 VET2 VET CREDIT $500 $250 $250 $0 8 1 12 7 PINECREST LANE GUERRETTE, CHRISTOPHER A 2016 VTCR VETERAN'S $500 $250 $0 $250 8 1 15 20 SUNNYSIDE DRIVE PETTIFORD, MARK H 2012 VTCR VETERAN'S $500 $250 $0 $250 8 1 18 14 PINECREST LANE GLENN REV LIV TRUST, MARY E 2008 VTCR VETERAN'S $500 $250 $0 $250 8 1 21 13 PINECREST LANE KELL, PAUL M 2009 VTCR VETERAN'S $500 $250 $0 $250 8 1 23 17 PINECREST LANE FERRARI REV TRUST, RICHARD J 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 27 25 PINECREST LANE CUNNINGHAM JR, THOMAS M 2004 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 8 1 27 25 PINECREST LANE CUNNINGHAM JR, THOMAS M 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 41 12 DENBOW ROAD HALLORAN, RAYMOND 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 54 1 FFROST DRIVE RAMSAY, SHIRLEY J 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 58 5 FFROST DRIVE BURGER REV TRUST, JOHN F 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 66 3 WILLEY ROAD DEWING FAMILY 2013 REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 76 15 FFROST DRIVE POTEET, WILLIAM R 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 77 18 FFROST DRIVE SIMMONS FAMILY REV LIV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 88 27 FFROST DRIVE LITTLE, MURRAY L & RHONDDA A 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 105 19 CUTTS ROAD KLEIN, LEONARD 2004 VTCR VETERAN'S $500 $250 $0 $250 8 1 117 7 CUTTS ROAD KRAUS JR, JOHN D 2004 VTCR VETERAN'S $500 $250 $0 $250 9 14 2 6 BEECH HILL ROAD FOOTE, THOMAS 2011 VTCR VETERAN'S $500 $250 $0 $250 10 6 5 10 AMBLER WAY CAUCHON, LEO 2004 VTCR VETERAN'S $500 $250 $0 $250 10 6 13 5 GERRISH DRIVE RESTANI, RAYMOND 2004 VTCR VETERAN'S $500 $250 $0 $250 10 6 16 8 GERRISH DRIVE SPROUL, OTIS 2004 VTCR VETERAN'S $500 $250 $0 $250 10 6 21 50 CANNEY ROAD MUNOZ, ELLEN GAIL 2004 VTCR VETERAN'S $500 $250 $0 $250 10 7 3 5 SOPHIE LANE HENRY, MARK A 2014 VTCR VETERAN'S $500 $250 $0 $250 10 10 4 4 CANNEY ROAD KEENER 2012 REV TRUST, WILLIAM 2010 VTCR VETERAN'S $500 $250 $0 $250 10 12 1 49 EMERSON ROAD EVERNGAM REV TRUST, MICHAEL & 2004 VTCR VETERAN'S $500 $250 $0 $250 10 12 9 9 LITTLEHALE ROAD NOON, CHARLES A 2012 VTCR VETERAN'S $500 $250 $0 $250 10 12 18 10 LITTLEHALE ROAD DYER, WAYNE L 2008 VTCR VETERAN'S $500 $250 $0 $250 10 12 24 45 EMERSON ROAD HALEY, DONALD W 2004 VTCR VETERAN'S $500 $250 $0 $250 10 16 7 B 4B NOBEL K PETERSON DRIVE O'MEARA, DANIELE 2012 VTCR VETERAN'S $500 $250 $0 $250 10 16 10 10 NOBEL K PETERSON DRIVE ZEMBRUSKY, KAROL 2011 VTCR VETERAN'S $500 $250 $0 $250 10 16 11 B 14 NOBEL K PETERSON DRIVE JOHNSON REV TRUST, BEVERLY H 2005 VTCR VETERAN'S $500 $250 $0 $250 10 18 37 DOVER ROAD STANHOPE REV TRUST, PETER E 2016 VTCR VETERAN'S $500 $250 $0 $250 10 20 1 32 DOVER ROAD ALEXANDER FAMILY REV TRUST 2012 VTCR VETERAN'S $500 $250 $0 $250 10 20 6 42 DOVER ROAD BAGAN, KATHLEEN M 2007 VTCR VETERAN'S $500 $250 $0 $250 11 6 80-82 DOVER ROAD MCDERMOTT, BONNIE 2008 VTCR VETERAN'S $500 $250 $0 $250 11 16 5 4 RAZORBILL CIRCLE KERRIGAN, HUNT 2017 VTCR VETERAN'S $500 $250 $0 $250 11 16 5 4 RAZORBILL CIRCLE KERRIGAN, HUNT 2017 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 11 16 5 4 RAZORBILL CIRCLE KERRIGAN, HUNT 2017 VET2 VET CREDIT $500 $250 $250 $0 11 16 8 17 SHEARWATER STREET NAUCK LIVING TRUST 2002 VTCR VETERAN'S $500 $250 $0 $250 11 23 42 9 TIRRELL PLACE MCGINN, FRANCIS J 2002 VTCR VETERAN'S $500 $250 $0 $250 11 31 6 20 RIVERVIEW ROAD MURPHY, JOHN F 2008 VTCR VETERAN'S $500 $250 $0 $250 11 31 28 23 RIVERVIEW ROAD SLUTZKY REV TRUST, MURIEL A 2004 VTCR VETERAN'S $500 $250 $0 $250 11 36 3 59 DURHAM POINT ROAD GREENBERG TRUSTS, FREDERIC 2004 VTCR VETERAN'S $500 $250 $0 $250 11 38 1 101 DURHAM POINT ROAD MCNITT, BARBARA A & ROBERT M 2009 VTCR VETERAN'S $500 $250 $0 $250 11 39 4 127 DURHAM POINT ROAD LEWIS, RICHARD J 2004 VTCR VETERAN'S $500 $250 $0 $250 11 39 4 127 DURHAM POINT ROAD LEWIS, RICHARD J 2004 VET2 VET CREDIT $500 $250 $250 $0 11 40 1 139 DURHAM POINT ROAD CORROW, ANDREW J 2011 VET2 VET CREDIT $500 $250 $250 $0

11 40 1 139 DURHAM POINT ROAD CORROW, ANDREW J 2011 VTCR VETERAN'S $500 $250 $0 $250 12 1 1 40 CEDAR POINT ROAD ROEMER REV TRUST, INGO 2004 VTCR VETERAN'S $500 $250 $0 $250 12 1 14 27 CEDAR POINT ROAD NELSON TRUST, BRENDA C 2004 VTCR VETERAN'S $500 $250 $0 $250 12 1 14 27 CEDAR POINT ROAD NELSON TRUST, BRENDA C 2005 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 12 2 10 9 CEDAR POINT ROAD DELUDE FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 12 4 3 10 WATSON ROAD SCHULTZ, GEOFF 2016 VTCR VETERAN'S $500 $250 $0 $250 12 4 8 31 WATSON ROAD ZIEGRA, JAMES 2004 VTCR VETERAN'S $500 $250 $0 $250 12 9 7 29 MATHES COVE ROAD YATES REV TRUST, BARBARA ANN 2004 VTCR VETERAN'S $500 $250 $0 $250 12 9 9 26 MATHES COVE ROAD DURNALL REV TRUST, EDWARD J 2004 VTCR VETERAN'S $500 $250 $0 $250 12 9 14 4 MATHES COVE ROAD SIMEONE, JOHN E 2004 VTCR VETERAN'S $500 $250 $0 $250 12 10 1 193 DURHAM POINT ROAD ALLYSON, RUSSELL & JEANNETTE 1998 VTCR VETERAN'S $500 $250 $0 $250 12 11 1 15 LANGLEY ROAD SANDBERG TRUST, NANCY P 2010 VTCR VETERAN'S $500 $250 $0 $250 12 16 10 12 WILLEY CREEK ROAD CASEY, BERNARD 2004 VTCR VETERAN'S $500 $250 $0 $250 12 16 16 19 COLONY COVE ROAD RANDALL LIV REV TRUST, VICKI L 2013 VTCR VETERAN'S $500 $250 $0 $250 12 16 19 14 EDGERLY GARRISON ROAD RIEF, GEORGE 2004 VTCR VETERAN'S $500 $250 $0 $250 12 23 1 30 COLONY COVE ROAD BARSTOW TRUST, DIANTHA L 2011 VTCR VETERAN'S $500 $250 $0 $250 13 14 3 2 15 ROYSANN WAY COSTANZO REV LIVING TRUST, JOH 2002 VTCR VETERAN'S $500 $250 $0 $250 13 14 3 5 10 ROYSANN WAY COTE REV TRUST, ALAN C & SUZAN 2011 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 13 14 3 5 10 ROYSANN WAY COTE REV TRUST, ALAN C & SUZAN 2011 VTCR VETERAN'S $500 $250 $0 $250 13 14 3 7 8 ROYSANN WAY PETRIN, ERNEST G 2001 VTCR VETERAN'S $500 $250 $0 $250 13 14 4 3 5 EDENDALE LANE RYSTAR TRUST, JOHN J & JUDITH 2015 VTCR VETERAN'S $500 $250 $0 $250

13 14 14

10A 28 WORTHEN ROAD MORIN, LOUISE I 2016 VTCR VETERAN'S $500 $250 $0 $250

13 14 14

10B 26 WORTHEN ROAD LEWIS, JERRY W 2016 VTSP VETERAN'S $2,000 $1,000 $0 $1,000

13 14 14

10B 26 WORTHEN ROAD LEWIS, JERRY W 2016 VTCR VETERAN'S $500 $250 $0 $250

13 14 14 6A 8 BRITTON LANE SMITH, DAVID D 2006 VTCR VETERAN'S $500 $250 $0 $250

13 14 14 6B 6 BRITTON LANE EVANS REV TRUST, ANN C 2016 VTCR VETERAN'S $500 $250 $0 $250

13 14 14 9A 20 BRITTON LANE SIMPSON, JUDITH W 2016 VTCR VETERAN'S $500 $250 $0 $250

13 14 15 2B 11 SPRUCE WOOD LANE HYLEN, ROBERT S 2009 VTCR VETERAN'S $500 $250 $0 $250

14 1 7 14 GRIFFITHS DRIVE RONAN FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 14 1 8 16 GRIFFITHS DRIVE WINSTON 2015 TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 14 1 11 201 WEDNESDAY HILL ROAD WOLFRUM REV LIV TRUST, CARL A 2004 VTCR VETERAN'S $500 $250 $0 $250 14 1 14 11 GRIFFITHS DRIVE MILLER FAMILY REV TRUST 2017 VTCR VETERAN'S $500 $250 $0 $250 14 14 253 PACKERS FALLS ROAD ABLOWICH REV TRUST, ANN H 2004 VTCR VETERAN'S $500 $250 $0 $250 14 21 3 28 WISWALL ROAD CARTER FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 14 36 2 70 BENNETT ROAD DEAME, CARL 2004 VTCR VETERAN'S $500 $250 $0 $250 14 36 5 66 BENNETT ROAD TANGUAY LIV REV TRUST, WILLIAM 2004 VTCR VETERAN'S $500 $250 $0 $250 14 36 6 68 BENNETT ROAD FULLER REV FAMILY TRUST 2002 VTCR VETERAN'S $500 $250 $0 $250 15 10 106 NEWMARKET ROAD SMALLEY REV TRUST, GLORIA P 2004 VTCR VETERAN'S $500 $250 $0 $250 15 11 110 NEWMARKET ROAD SMITH, RUSSELL J 2009 VTCR VETERAN'S $500 $250 $0 $250 15 15 10 6 YORK DRIVE BATSON REV TRUST, DOROTHY W 2004 VTCR VETERAN'S $500 $250 $0 $250 16 1 1 84 DURHAM POINT ROAD SMITH REV TRUST, BARRY & DENIS 2005 VTCR VETERAN'S $500 $250 $0 $250 16 2 2 120 DURHAM POINT ROAD GARCIA, LINDA M 2017 VTCR VETERAN'S $500 $250 $0 $250

16 2 2 120 DURHAM POINT ROAD GARCIA, LINDA M 2017 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 16 4 9 23 SANDY BROOK DRIVE NORTHROP FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 16 4 40 7 SANDY BROOK DRIVE BELCHER, JOHN C & PATRICIA F 2004 VTCR VETERAN'S $500 $250 $0 $250 16 20 280 DURHAM POINT ROAD GSOTTSCHNEIDER FAMILY REV TRUS 2008 VTCR VETERAN'S $500 $250 $0 $250 16 29 2 74 LONGMARSH ROAD MORRIS, DOUGLAS E 2004 VTCR VETERAN'S $500 $250 $0 $250 17 2 2 85 WISWALL ROAD ALLAN TRUST, BARBARA W 2004 VTCR VETERAN'S $500 $250 $0 $250 17 5 67 WISWALL ROAD CROKER LIVING TRUST, MARY ANN 2004 VTCR VETERAN'S $500 $250 $0 $250 17 22 1 151 PACKERS FALLS ROAD VAILLANCOURT REV TRUST, JOSEPH 2010 VTCR VETERAN'S $500 $250 $0 $250 17 27 3 323 LEE HOOK ROAD WORDEN, DONALD 2004 VTCR VETERAN'S $500 $250 $0 $250 17 32 1 344 LEE HOOK ROAD BLUE HERON TRUST 2005 VTCR VETERAN'S $500 $250 $0 $250 17 39 21 4 STONE WALL WAY DAVIS, FRANK R 2007 VTCR VETERAN'S $500 $250 $0 $250 17 46 1 1 CONSTABLE ROAD RAYMOND, RICHARD H & SUSAN A 2012 VTCR VETERAN'S $500 $250 $0 $250 17 46 2 3 CONSTABLE ROAD CHU, KENNETH 2004 VTCR VETERAN'S $500 $250 $0 $250 17 47 3 4 FALLS WAY GOODMAN FAMILY REV TRUST 2007 VTCR VETERAN'S $500 $250 $0 $250 17 53 8 4 SULLIVAN FALLS ROAD DRAPEAU REV TRUST, W & J 2004 VTCR VETERAN'S $500 $250 $0 $250 17 56 4 6 CORSON LANE PICKLES TRUST, ROBERT W 2002 VTCR VETERAN'S $500 $250 $0 $250 17 56 15 3 COLD SPRING ROAD LUCHSINGER, JOANNA A 2011 VTCR VETERAN'S $500 $250 $0 $250 18 3 4 216 NEWMARKET ROAD TURNER, DONNA MARIE 2008 VTCR VETERAN'S $500 $250 $0 $250 18 3 4 216 NEWMARKET ROAD TURNER, DONNA MARIE 2008 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 18 11 7 23 SIMONS LANE BERNIER, MARC R 2012 VTCR VETERAN'S $500 $250 $0 $250 18 11 10 11 SIMONS LANE BURKE, JOHN F 2004 VTCR VETERAN'S $500 $250 $0 $250 18 17 1 19 STAGECOACH ROAD HORNE, FREDERICK J 2016 VTCR VETERAN'S $500 $250 $0 $250 18 18 25 52 ROSS ROAD DESANTIS, DAVID V 2013 VTCR VETERAN'S $500 $250 $0 $250 18 18 51 39 ROSS ROAD ARMSTRONG, ANDREW A 2009 VTCR VETERAN'S $500 $250 $0 $250 18 18 59 7 ROSS ROAD WHITE, DAVID H & BELINDA M 2014 VTCR VETERAN'S $500 $250 $0 $250 20 3 2 B 573 BAY ROAD BENNETT, ALAN H 2016 VTCR VETERAN'S $500 $250 $0 $250 20 13 2 305 DURHAM POINT ROAD MOORE SR, KENNETH E & DEBORAH 2004 VTCR VETERAN'S $500 $250 $0 $250 20 17 4 7 COLONY COVE ROAD BOLSTER, KENT R 2016 VTCR VETERAN'S $500 $250 $0 $250 21 3 6 SUMAC LANE WHITTIER FAMILY REV TRUST 2010 VTCR VETERAN'S $500 $250 $0 $250 21 5 10 SUMAC LANE POULIN 1991 TRUST, ROGER J 2008 VTCR VETERAN'S $500 $250 $0 $250 21 33 2 PARTRIDGEBERRY LANE EGBERT III, KENNETH 2015 VTCR VETERAN'S $500 $250 $0 $250 21 37 3 PARTRIDGEBERRY LANE SWEATT REV TRUST, ALISON H 2010 VTCR VETERAN'S $500 $250 $0 $250 21 40 65 BUCKS HILL ROAD HALLISEY, JUDITH A 2004 VTSP VETERAN'S $2,000 $1,000 $0 $1,000 21 40 65 BUCKS HILL ROAD HALLISEY, JUDITH A 2004 VTCR VETERAN'S $500 $250 $0 $250 21 60 H 33 BUCKS HILL ROAD HAMEL, WALLY L 2014 VTCR VETERAN'S $500 $250 $0 $250 21 62 12 12 BUCKS HILL ROAD ECKERSON FAMILY REV TRUST 2004 VTCR VETERAN'S $500 $250 $0 $250 22 26 7 SURREY LANE CHAZE, KIM T 2010 VTCR VETERAN'S $500 $250 $0 $250 22 35 14 SURREY LANE DUNN REV TRUST, DANIEL N 2004 VTCR VETERAN'S $500 $250 $0 $250 23 11 23 DEER MEADOW ROAD CLOITRE TRUST, HEATHER A 2004 VTCR VETERAN'S $500 $250 $0 $250 23 15 22 DEER MEADOW ROAD POORE REV TRUST, JEANNIE 2012 VTCR VETERAN'S $500 $250 $0 $250 23 16 20 DEER MEADOW ROAD ESPOSITO TRUST, MARY ANN 2004 VTCR VETERAN'S $500 $250 $0 $250 23 30 11 DEER MEADOW ROAD MARTIN, RICHARD S & PAULA R 2012 VTCR VETERAN'S $500 $250 $0 $250

TOTAL: $126,000 $63,000 $1,500 $61,250

TOWN OF DURHAM 8 NEWMARKET ROAD # DURHAM, NH 03824 9

Tel: 603/868-5571 AGENDA ITEM: Fa : 603/868-1858

DATE: December 18, 2017


INITIATED BY:

AGENDA ITEM:

CC PREPARED BY:

PRESENTED BY:

Durham Town Council

PRESENTATION FROM PATRICIA QUINN, EXECUTIVE DIRECTOR FOR THE NORTHERN NEW ENGLAND PASSENGER RAIL SERVICE (NNEPRA)

Jennie Berry, Administrativ ,,,,

Todd Selig, Adminis.~ r C

SSlS ant

I'

AGENDA DESCRIPTION: Patricia Quinn, Chief Executive Officer of the Northern New England Passenger Rail Authority (NNEPRA) which operates the Amtrak Downeaster Service, has been invited to attend Monday night's meeting to provide an update to the Town Council regarding current activities relating to the Downeaster. Ms. Quinn gave an earlier presentation to the Council in 2011.

The Northern New England Passenger Rail Authority (NNEPRA) is a public transportation authority created in 1995 by the Maine State Legislature to develop and provide passenger rail service between Maine and Boston and points within Maine. NNEPRA manages the budget, contracts, promotion, and customer services associated with the Downeaster passenger rail service. NNEPRA holds a 20-year agreement with Amtrak to operate the Downeaster rail service between Portland and Boston and is party to agreements with host railroads (i.e., Pan Am Railways and the Massachusetts Bay Transportation Authority).

LEGAL AUTHORITY: N/A

LEGAL OPINION: N/A

ft \, iJ Ptint9d 011 Recycled Pa.,;,,

Council Communication, 12/18/17 - Page 2

Re: Presentation by Patricia Quinn, Executive Officer for NNEPRA

FINANCIAL DETAILS: N/A

SUGGESTED ACTION OR RECOMMENDATIONS: No formal action is required. Receive presentation from NNEPRA Executive Officer Patricia Quinn and hold a question and answer session if desired.

TO\V OF DURHAM 8 NEWMARKET ROAD # DURH M, NH O 8_4 1 0

Tel: 603/868-5571 AGENDA ITEM: Fa ·: 603/868- l 858

DATE: December 18, 2017


INITIATED BY:

AGENDA ITEM:

CC PREPARED BY:

PRESENTED BY:

AGENDA DESCRIPTION:

Riverwoods Continuing Care Retirement Community

SHALL THE TOWN COUNCIL, UPON RECOMMENDATION OF THE ADMINISTRATOR, APPROVE A PAYMENT IN LIEU OF TAXES (PILOT) AGREEMENT PURSUANT TO NH REVISED STATUTES ANNOTATED (RSA) 72:23-n BETWEEN THE TOWN OF DURHAM AND RIVERWOODS, AND AUTHORIZE THE ADMINISTRATOR TO SIGN ALL ASSOCIATED DOCUMENTS NECESSARY TO EFFECTUATE SAID AGREEMENT AND BRING THIS MATTER TO CLOSURE?

Jennie Berry, Administr~ .R~

Todd Selig, Administrator \1 ,,,,,..

In the spring of 2017, Riverwoods Continuing Care Retirement Community President and CEO Justine Vogel, and legal counsel for Riverwoods, Sharon Cuddy Somers of Donahue, Tucker, and Ciandella, contacted the Administrator about meeting to discuss financing for water and sewer improvements, as well as the crafting of a PILOT agreement relating to Riverwoods' vacant 11.3-acre site in the northeast quadrant of the junction of Route 108 and Route 4 ( one lot in from Route 108). On August 9, 2017, the Planning Board accepted as complete a site plan, lot line adjustment, and conditional use application for Riverwoods CCRC. The project includes independent living apartments, assisted-living apartments, memory-care units, and skilled-nursing units.

Since his initial meeting with Ms. Vogel and Attorney Somers, the Administrator, along with a small group he pulled together to assist him (Councilors Jim Lawson, Carden Welsh, and Firoze Katrak, Assessor Jim Rice, Economic Development Director Mary Ellen Humphrey, and Attorney Steven Burke), have met on several occasions with Attorney Somers and Ms. Vogel to develop a PILOT program that would be mutually acceptable to both Riverwoods and the Town of Durham. The

() Prmted on R«}·cled Pitp(lr

Council Communication, 12/18/17 - Page 2 Re: Approve PILOT Agreement with Riverwoods CCRC

group is now prepared to bring forward for the CounciYs consideration a draft PILOT agreement.

Attached is a draft agreement term sheet which outlines the basic terms and · structure of a proposed voluntary '~payment in lieu of taxes" pursuant to New Hampshire Revised Statutes Annotated (RSA) 72:23-n between the Town of Durham and Riverwoods Durham. The PILOT is based on the agreement that Riverwoods will pay property taxes on the negotiated value of the portion of the property owned by Riverwoods in Durham that is attributable to the independent living facilities maintained by Riverwoods and a prorated portion of the common areas (the· "Taxable Portion").

LEGAL AUTHORITY: New Hampshire Revised Statutes Annotated (RSA) 72:23-n and RSA 72:23, V.

LEGAL OPINION: The Town's tax Attorney, Steven Burke, assisted with the development of the proposed PILOT agreement term sheet and deems the document to be acceptable and in accord with New Hampshire state laws.

FINANCIAL DETAILS: Outlined in the proposed PILOT agreement.

SUGGESTED ACTION OR RECOMMENDATIONS:

MOTION: . The Durham Town Council does hereby, upon recommendation of the Administrator, approve a Payment in Lieu of Taxes (PILOT) agreement term sheet pursuant to NH Revised Statutes Annotated (RSA) 72:23-n between the Town of Durham and Riverwoods, and authorizes the Administrator to sign all associated documents necessary to effectuate said agreement and bring this matter to closure. .

DRAFT OF December 15, 2017 FOR DISCUSSION PURPOSES ONLY

- 1 -

TOWN OF DURHAM

SUMMARY OF PROPOSED TERMS OF PAYMENT IN LIEU OF TAXES (PILOT) FOR

RIVERWOODS DURHAM

The following is a non-binding term sheet summarizing the basic terms and structure of a proposed voluntary “payment in lieu of taxes” pursuant to N.H. RSA 72:23-n (referred to herein as the “PILOT”) between the Town of Durham (“Durham”) and RiverWoods Durham, a New Hampshire Voluntary Corporation, and the RiverWoods Group, a New Hampshire Voluntary Corporation, (collectively, “RiverWoods”). The PILOT is based on the agreement that RiverWoods will make a payment in lieu of taxes on the negotiated value of the portion of the property owned by RiverWoods in Durham that is attributable to the independent living facilities maintained by RiverWoods in Durham and a prorated portion of the common areas (the “Taxable Portion”). Durham and RiverWoods have agreed in principal to the terms of the proposed PILOT although there may be further refinement to the terms described below prior to the finalization of the agreement.

PROPOSED TERMS OF PILOT

PARTIES The PILOT will be entered into and agreed to by the following parties:

• The Town of Durham

• RiverWoods Durham

• The RiverWoods Group

TAXABLE PORTION:

The Taxable Portion of the RiverWoods Property shall be the portion of the property attributable to the independent living facilities maintained by RiverWoods and a pro rata portion of the common areas. The Taxable Portion shall not include the portion of the RiverWoods property attributable to assisted living quarters, memory care, and nursing home facilities and the pro rata portion of the common areas attributable thereto.

TERM: Thirty (30) year term beginning January 1, 2018 and ending December 31, 2047.

As described in further detail below, the term of the PILOT will be divided into three (3) phases:

• Phase I: Beginning January 1, 2018 and ending December 31, 2027


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• Phase II: Beginning January 1, 2028 and ending December 31, 2037

• Phase III: Beginning January 1, 2038 and ending December 31, 2047

On January 1, 2047, the parties agree to begin negotiations for a successor PILOT which, if successfully negotiated, will be finalized prior to December 31, 2047.

DISPUTE RESOLUTION PROCEDURES

The PILOT shall contain dispute resolution procedures, including provisions regarding mediation as a precondition to arbitration in the event a dispute arises between Durham and RiverWoods during the term of the PILOT.

At its option, RiverWoods may request an in-person meeting with Durham to discuss future municipal tax rate projections. Any such meeting would be advisory in nature only and not binding on Durham.

CHANGE IN TAX STATUS OF RIVERWOODS

• In the event RiverWoods, following a final adjudication with all appeal rights exhausted, a) loses its federal tax exempt status; or b) if a court or governmental agency of competent jurisdiction determines that no part of RiverWoods qualifies for a property tax exemption under NH RSA 72:23, V, the PILOT will immediately terminate.

• If a court or governmental agency of competent jurisdiction determines that a reduced (or increased) percentage of the RiverWoods property qualifies for a property tax exemption under NH RSA 72:23, V, RiverWoods and Durham will negotiate the terms of a new PILOT in good faith.

• Durham shall not oppose any efforts by RiverWoods to defend itself, a) in the face of a challenge to its federal tax status, or b) a challenge to the percentage of RiverWoods which qualifies for a property tax exemption under NH RSA 72.23, V.

• If, as of a result of a change in relevant law or regulations, (1) RiverWoods no longer qualifies for a property tax exemption or is no longer eligible to enter into a PILOT under N.H. RSA 72:23-n, (2) the percentage of RiverWoods that qualifies for a property tax exemption substantially changes, or (3) there is a similar change in law or regulations that affects the property tax exemption otherwise available to RiverWoods, RiverWoods and Durham will negotiate the terms of a new PILOT agreement, if any, in good faith.

• In the event RiverWoods and Durham are unable to agree on the terms of a new PILOT, the parties shall agree on the selection of an arbitrator that is familiar with both municipal


- 3 -

law and real property tax issues to resolve the matter pursuant to the then existing rules and regulations of the American Arbitration Association. The decision of the arbitrator shall be binding upon Durham and RiverWoods. In the event the parties cannot agree on a mutually acceptable arbitrator, then notwithstanding any then existing rules of the American Arbitration Association, the parties shall engage a panel of arbitrators, such that RiverWoods will select one arbitrator, Durham will select one arbitrator, and the arbitrators will select a third arbitrator.

LAND SWAP AGREEMENT

Upon the execution of the PILOT by both RiverWoods and Durham, RiverWoods and Durham shall enter in a Land Swap Agreement providing for the exchange of a parcel of land to be owned by Durham for an adjacent parcel of land owned by RiverWoods. Such agreement will be placed in to escrow until final approval of the site plan by the Durham Planning Board and passage of title to the subject property from Rockingham Properties I Limited Partnership to RiverWoods.

SHOOTING RANGE The existing Durham Police Department shooting range located on property owned by Durham that is adjacent to the RiverWoods property shall be moved to an offsite location by 2021.

WAIVER OF RIGHTS UNDER RSA 72:23, et al.

During the term of the PILOT, RiverWoods waives its right to seek redress or to otherwise assert it is eligible for a property tax exemption under NH RSA 72:23, V or NH RSA 72:23-k.

PHASE I

VALUATION OF TAXABLE PORTION:

The negotiated valuation of the Taxable Portion during Phase I shall be $34,135,000 (the “Phase I Negotiated Value”). The Phase I Negotiated Value shall not be impacted by any town-wide revaluation undertaken by Durham in 2018 or in subsequent years.

CHARGED TAX RATE:

The tax rate (the “Phase I Charged Tax Rate”) applied to the Phase I Negotiated Value shall be the full tax rate; provided, however, that the Phase I Charged Tax Rate applied to the Phase I Negotiated Value shall in no event be less than $30.64 (the “Phase I Tax Rate Floor”). In the event the current full tax rate is less than $30.64 in a given calendar year, the Phase I Charged Tax Rate for that year shall be the greater of (1) $30.64 or (2) the Phase I Charged Tax Rate in the immediately preceding calendar year.

• Note that the Phase I Charged Tax Rate will be determined but not applied to the value of the Taxable Portion during the Phase I Ramp-Up Period described below.


- 4 -

EQUALIZATION RATIO

The equalization ratio in Phase I shall be 100%.

BASE AMOUNT Other than during the Ramp-Up Period, the base amount of tax payable by RiverWoods in a given calendar year (the “Phase I Base Amount”) shall be determined by multiplying (1) the Phase I Negotiated Value divided by $1000 times (2) the Phase I Charged Tax Rate for that calendar year. In no event shall the Phase I Base Amount drop below $1,044,824 (other than during the Ramp-Up Period).

PHASE I RAMP-UP PERIOD

From January 1, 2018 to December 31, 2021, there will be a ramp-up period (“Ramp-Up Period”) and the Base Amount of tax payable in each calendar year by RiverWoods will be set as follows:

• January 1, 2018 – December 31, 2018: $0

• January 1, 2019 – December 31, 2019: $200,000



REDUCTION FOR WATER/SEWER EXTENSION

RiverWoods agrees to pay for the extension of water and sewer lines to its property and for the portion of the force main upgrade that is in proximity to the water and sewer extension (the “Water/Sewer Extension”).

In exchange for agreeing to pay for the Water/Sewer Extension, the gross amount of tax payable by RiverWoods in a given calendar year will be reduced over a twenty year period (beginning on January 1, 2020 and ending on December 31, 2039) by an amount equivalent to the annual payment on a 20 year municipal bond bearing interest at rate of 3.03% (the “Water/Sewer Credit”). The principal amount of the bond used to calculate the Water/Sewer Credit will be based on total project costs based on the design approved by the Durham Water/Wastewater/Stormwater Committee related to the Water/Sewer Extensions, but in no event shall such costs exceed $2.2 million.

NET PAYMENT On December 1 of each year, RiverWoods shall make a payment to Durham equal to (1) the Phase I Base Amount calculated for that calendar year, less (2) the Water/Sewer Credit calculated for that calendar year.

PHASE II


The valuation of the Taxable Portion during Phase II shall be determined by obtaining new appraisals for the Taxable Portion that will be effective from January 1, 2028 to December 31, 2037 (the “Phase II Negotiated Value”). The Phase II Negotiated Value shall be


- 5 -

determined in 2028 according to the following procedure:

• On or prior to January 30, 2028, RiverWoods and Durham shall contact each other regarding obtaining appraisals to determine the Phase II Negotiated Value.

• Each of RiverWoods and Durham shall hire an independent certified appraiser with expertise in CCRC(s) to prepare a separate valuation of the Taxable Portion to be completed prior to May 31, 2028 (each, a “Phase II Initial Valuation”). Each party will be responsible for the costs of their separate Phase II Initial Valuation.

• If the values for the Taxable Portion contained in the Phase II Initial Valuations obtained by RiverWoods and Durham differ by 5% or less, the midpoint of the two values will be the Phase II Negotiated Value. If the values for the Taxable Portion contained in the Phase II Initial Valuations obtained by RiverWoods and Durham differ by more than 5%, and the parties cannot negotiate a Phase II Negotiated Value, either of RiverWoods or Durham has the right to require that a third appraisal be obtained (the “Phase II Secondary Valuation”).

o The Phase II Secondary Valuation shall be obtained prior to October 1, 2028

o RiverWoods and Durham shall mutually agree on an appraiser for the Phase II Secondary Valuation and the costs of obtaining the Phase II Secondary Valuation shall be equally borne by both RiverWoods and Durham. The valuation of the Taxable Portion set out in the Phase II Secondary Valuation shall be binding on both parties and shall be the Phase II Negotiated Value. RiverWoods and Durham can, by mutual agreement, elect to forego the Phase II Secondary Valuation and agree on the Phase II Negotiated Value using the Phase II Initial Valuations and/or other data that is mutually acceptable to both parties.

The Phase II Negotiated Value shall not be impacted by any town-wide revaluation undertaken by Durham during Phase II.

CHARGED TAX RATE:

The tax rate (the “Phase II Charged Tax Rate”) applied to the Phase II Negotiated Value shall be the full tax rate charged by Durham in each calendar year; provided, however, that the Phase II Charged Tax Rate applied to the Phase II Negotiated Value shall in no event be less than the full tax rate charged by Durham in 2028 (the “Phase II Tax Rate Floor”). In the event the current full tax rate is less than the Phase II Tax Rate Floor, the Phase II Charged Tax Rate for that year shall be the greater of (1) Phase II Tax Rate Floor or (2) the Phase II Charged


- 6 -

Tax Rate in the immediately preceding calendar year.

EQUALIZATION RATIO

The equalization ratio in Phase II shall be 100%.

BASE AMOUNT The base amount of tax payable by RiverWoods in a given calendar year (the “Phase II Base Amount”) shall be determined by multiplying (1) the Phase II Negotiated Value divided by $1000 times (2) the Phase II Charged Tax Rate for that calendar year.

In no event shall the Phase II Base Amount drop below $1,044,824.



In exchange for agreeing to pay for the Water/Sewer Extension, the gross amount of tax payable by RiverWoods in a given calendar year will be reduced over a twenty year period (beginning on January 1, 2020 and ending on December 31, 2039) by an amount equivalent to the annual payment on a 20 year municipal bond bearing interest at rate of 3.03% (the “Water/Sewer Credit”). The principal amount of the bond used to calculate the Water/Sewer Credit will be based on total project costs base on the design approved by the Durham Water/Wastewater/Stormwater Committee related to the Water/Sewer Extensions, but in no event shall such costs exceed $2.2 million.

NET PAYMENT On December 1 of each calendar year, RiverWoods shall make a payment to Durham equal to (1) the Phase II Base Amount calculated for that calendar year, less (2) the Water/Sewer Credit calculated for that calendar year.

PHASE III


The valuation of the Taxable Portion during Phase III shall be determined by obtaining new appraisals for the Taxable Portion that will be effective from January 1, 2038 to December 31, 2047 (the “Phase III Negotiated Value”). The Phase III Negotiated Value shall be determined in 2038 according to the following procedure:

• On or prior to January 30, 2038, RiverWoods and Durham shall contact each other regarding obtaining appraisals to determine the Phase III Negotiated Value.

• Each of RiverWoods and Durham shall hire an independent appraiser to prepare a separate valuation of the Taxable Portion prior to May 31, 2038 (each, a “Phase III Initial Valuation”). Each party will be responsible for the costs of their separate


- 7 -

Phase III Initial Valuation.

• If the values for the Taxable Portion contained in the Phase III Initial Valuations obtained by RiverWoods and Durham differ by 5% or less, the midpoint of the two values will be the Phase III Negotiated Value.

• If the values for the Taxable Portion contained in the Phase III Initial Valuations obtained by RiverWoods and Durham differ by more than 5%, and the parties cannot negotiate a Phase II Negotiated Value, either of RiverWoods or Durham has the right to require that a third appraisal be obtained (the “Phase III Secondary Valuation”).

o The Phase III Secondary Valuation shall be obtained prior to October 1, 2038

o RiverWoods and Durham shall mutually agree on an appraiser for the Phase III Secondary Valuation and the costs of obtaining the Phase III Secondary Valuation shall be equally borne by both RiverWoods and Durham. The valuation of the Taxable Portion set out in the Phase III Secondary Valuation shall be binding on both parties and shall be the Phase III Negotiated Value. RiverWoods and Durham can, by mutual agreement, elect to forego the Phase III Secondary Valuation and agree on the Phase III Negotiated Value using the Phase III Initial Valuations and/or other data that is mutually acceptable to both parties.

The Phase III Negotiated Value shall not be impacted by any town-wide revaluation undertaken by Durham during Phase III.

CHARGED TAX RATE:

The tax rate (the “Phase III Charged Tax Rate”) applied to the Phase III Negotiated Value shall be the full tax rate charged by Durham in each calendar year; provided, however, that the Phase III Charged Tax Rate applied to the Phase III Negotiated Value shall in no event be less than the full tax rate charged by Durham in 2038 (the “Phase III Tax Rate Floor”). In the event the current full tax rate is less than the Phase III Tax Rate Floor, the Phase III Charged Tax Rate for that year shall be the greater of (1) Phase III Tax Rate Floor or (2) the Phase III Charged Tax Rate in the immediately preceding calendar year.

EQUALIZATION RATIO

The equalization ratio in Phase III shall be 100%.

BASE AMOUNT The base amount of tax payable by RiverWoods in a given calendar year (the “Phase III Base Amount”) shall be determined by multiplying (1) the Phase III Negotiated Value divided by $1000 times


- 8 -

(2) the Phase II Charged Tax Rate for that calendar year.

In no event shall the Phase III Base Amount drop below $1,044,824.



In exchange for agreeing to pay for the Water/Sewer Extension, the gross amount of tax payable by RiverWoods in a given calendar year will be reduced over a twenty year period (beginning on January 1, 2020 and ending on December 31, 2039) by an amount equivalent to the annual payment on a 20 year municipal bond bearing interest at rate of 3.03% (the “Water/Sewer Credit”). The principal amount of the bond used to calculate the Water/Sewer Credit will be based on total costs approved by Durham related to the Water/Sewer Extensions, but in no event shall such costs exceed $2.2 million.

NET PAYMENT On December 1 of each calendar year, RiverWoods shall make a payment to Durham equal to (1) the Phase III Base Amount calculated for that calendar year, less (2) the Water/Sewer Credit calculated for that calendar year.

Some Valuation observations based on RW-Healthtrust report

1 Income based approach

stabilized NOI 5,619,664 < on "whole (i.e. all activities)" of RWD

cap rate

9.29%

Total Value = 60,491,539

2 Cost based approach

replacement costs of hard assets 77.3 million

soft assets costs

17.1 million (=7.7 prof fees + 3.9 misc/contgnc + 5.5 pre-mktg)

enterprenerial incentive (~10%)

9.451 million

total replacement costs

103.9 million

land value (by P&S contract)

1.45 million

toal value on cost basis

105.3 million

3 Values of "other" to be deducted

Business value

2 million

Personal property value 2.2 million

4 Estimate of Real estae value (million dollars)

<- Not shown by Hthtrst ->

by HlthTrst

What IF1? What IF2?

Total Value

60.5

77.3 105.3

deductions(BzVal&PPV) 4.2

4.2 4.2

Value allocated to Real Estate 56.3

73.1 101.1

5 Allocation for IL (incldg commons) =

73% based on GBA

68%

based on Units count

6 Value allocated to Real Estate for IL (incldg commons)

if 68% if 73 %

IL & Cmns RE Value by Htrst mill $

38.3 41.1

IL & Cmns RE Value if Whatif1 mill $

49.7 53.4

IL & Cmns RE Value if Whatif2 mill $

68.7 73.8

7 Implied Pilot at full tax rate of 30.64

if 68% if 73 %

IL & Cmns RE Value by Htrst (000$)

1,173 1,259

IL & Cmns RE Value if Whatif1 (000$)

1,523 1,635

IL & Cmns RE Value if Whatif2 (000$)

2,106 2,261

Draft as of Monday 4th Dec

Reconstructing Values based on HT data & methods

.. D has not hired indpndt expert to review Inc, Exp, CF, CpRt underlying Valuations

.. D is trying to use HT info (and methods) given by RW to cooperatively meet urgency needs of RW

1st HT Rprt

1st HT Rprt

2nd HT Rprt

(note 1)

at Prop Tx rate of

11.29

0.00

30.64

NOI with no PTxs

5,619,664

5,619,664

5,619,664

Cap rate for relvnt Txrt

9.29%

8.25%

11.08%

Totl Val at relvnt Txrt

60,491,539

68,117,139

50,718,989

------------------

Less PP&BV

4,220,000

4,220,000

4,220,000

REtot val at relvnt Txrt

56,271,539

63,897,139

46,498,989

------------------

RE(ILC) val at relvnt Txrt

if on GBA 73.00%

41,078,224

46,644,912

33,944,262

if on UC 67.60%

38,039,561

43,194,466

31,433,317

------------------

$/yr Tx paid =Txrt*Val

if 92.4% Eq &GBA

428,526

NA

961,008

if 92.4% Eq &UC

396,827

NA

889,920

if no Eq & GBA

463,773

NA

1,040,052

if no Eq & UC

429,467

NA

963,117

------------------

Consistency Check below:

NOI aftr relvnt Proprty Txs

if 92.4% Eq &GBA

5,191,138

5,619,664

4,658,656

if 92.4% Eq &UC

5,222,837

5,619,664

4,729,744

if no Eq & GBA

5,155,891

5,619,664

4,579,612

if no Eq & UC

5,190,197

5,619,664

4,656,547

pure Cap rate

8.25%

8.25%

8.25%

Totl Val at relvnt Txrt at pureCaprt

if 92.4% Eq &GBA

62,922,880

68,117,139

56,468,555

if 92.4% Eq &UC

63,307,113

68,117,139

57,330,231

if no Eq & GBA

62,495,647

68,117,139

55,510,446

if no Eq & UC

62,911,483

68,117,139

56,442,996

Totl Val by CC > Totl Val by tx-fctr?

yes

same

yes

Conclusion from Constncy Check

adj cap rt too hi NA

adj cap rt too hi

(we did not qstn it earlr)

------------------

Corrctd Valuations from constnc chk

Less PP&BV

4,220,000

4,220,000

4,220,000

REtot val at relvnt Txrt

if 92.4% Eq &GBA

58,702,880 63,897,139 52,248,555

if 92.4% Eq &UC

59,087,113 63,897,139 53,110,231

if no Eq & GBA

58,275,647

63,897,139

51,290,446

if no Eq & UC

58,691,483

63,897,139

52,222,996

RE(ILC) val at relvnt Txrt

if 92.4% Eq &GBA 73.00% 42,853,103 46,644,912 38,141,445

if 92.4% Eq &UC 67.60% 39,942,888 43,194,466 35,902,516

if no Eq & GBA 73.00%

42,541,222

46,644,912

37,442,026

if no Eq & UC 67.60%

39,675,443

43,194,466

35,302,745

D proposed REILC val

41,100,000

RW proposed REILC val

34,135,000

REILC val Should be at least (befr othr issues)

37,442,026

------------------

Other Issues

.. D has not hired ind expert to review Inc, Exp, CF, CpRt underlying Valuations

.. D is trying to use HT info (and methods) given by RW to cooperatively meet urgency needs

… but there are issues buried in CF which are likely to make HT Val lower than realistic

e.g. deducting Management Fee ($848,990)to get NOI to use for valuation may be questionable because at least some portion of that fee is "transfer between entities"

So, in reality, that may incr Val substantially , by about as much as

10,290,788

REILC val Should be at least if corrctd for MF (befr othr issues)

47,732,814

Other issues include how realistic are various assumptions and estimates for Inc, Expnses, Cap artes, Disc rates, etc?

Other issues include foregoing using dicounted cash flow method for now?

Other issues include Cost Approach Val much much greater than Inc based approach; Is their a risk of lower val by ignoring cost approach?

Other similar issues -- no time to investigate & willing to ignore to cooperate with RW

But only if both sides compromise & REILC val kept at atleast

37,500,000

------------------

Or, otherwise may be Durham should hire its own expert now, even though that will take more time?

------------------ Notes: 1 #s in 2nd column are derived using HT 1st report; even though some numbers were not explicit in

HT # 1 report xxxxxxxxxxxx end

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