The Hooksett Town Council took two cautious steps forward in its attempts to launch the 150- acre tax increment financing, or TIF, district to be anchored by sports retailer Cabela’s.

Councilors unanimously agreed to enter into talks with the state in order to have the Legislature approve the town’s adoption of about 3,200 feet of Hackett Hill Road near the Interstate 93 Exit 11 toll booths.

Doing so, according to both Cabela’s and DOT representatives, would make the town eligible for nearly $3.7 million in state aid over the next few years as it partners with Cabela’s for massive roadwork improvements to accommodate a Cabela’s retail store and a slew of other potential commercial and industrial developments.

After reviewing letters from the DOT and a Cabela’s representative, which outlined the plan for state aid, several councilors said they’re not yet comfortable OKing the road acceptance.

“To view this (DOT letter) as a commitment is erroneous,” said Town Councilor David Ross.

“This is not a commitment from the state.”

Councilor Jason Hyde said the state aid for the road plans amounts to a government subsidy for the private development.

“That’s asking the rest of the state to pay for a project in Hooksett,” he said. “I’m not a socialist. I can’t accept this kind of behavior.”

The state funding would have to come in a maximum of $1 million annual increments, according to the DOT letter, signed by outgoing commissioner Carol Murray.

Cabela’s site acquisition manager, Ed Eckman, wrote that the company would look to use proceeds from the $18 million TIF bond approved by voters last year to cover the estimated $7 million cost of the roadwork around the Exit 11 area up front, before the state funding comes in. He also said Cabela’s would be responsible for any shortfalls if the state funding fell through.

“The town would be held harmless with no obligation to Cabela’s should the state for some reason default on its commitment,” Eckman wrote. “This gap would be Cabela’s risk and responsibility.”

Councilor Jim Gorton said he was still unsatisfied with Cabela’s promises for the roads plan.

“Until you have a signed document, all this is is a piece of paper,” he said of Eckman’s letter.

Legal help
The council also voted to begin talks with Marc Hughes, of New York’s First Albany Capital, who pitched his financial and consulting services to the council at a recent workshop.

Town Administrator David Jodoin said Hughes could assist the town in setting up a TIF financing program, forming the 20-year TIF bond and consulting through the town’s negotiations with Cabela’s.

“(Hughes) has the best capabilities, in my opinion, to move this project forward,” Jodoin said.

Hyde was in the minority that voted against waiving the council’s standard procedure to obtain three bids for contracted work.

“I wanted to put it out there so if anything bad happens we can all get the eggs chucked at us when we walk out the door,” he said.