BY JENNIFER MCDOWELL
The Hooksett Town Council voted 7-2 on Wednesday, Aug. 22, to skim a half million dollars off of the traffic impact fees Cabela’s would have to pay once the sports retailer’s development begins bringing in tax revenue.
The decision came after the Planning Board already voted to approve what dissenting Councilor Jason Hyde called “a tax break” for Cabela’s.
Deborah Brewster of TF Moran, said Feldco Development Corp. will make a total of $7.2 million in traffic improvements to the Hackett Hill Road area.
The modifications on the table include a five-way traffic signal, an additional lane coming off I-93, another toll station, and a roundabout in front of Cabela’s.
According to Brewster, the changes, amounting to $2.4 million more than what is required for the development, will make things easier if and when future developers come into the area.
Town Council Chairman Paul Loiselle said the state has agreed to fund a portion of those highway improvements, but pointed out that there are no guarantees with the state.
“It’s not cast in stone because the state has a number of issues with funding roadways,” he said.
Even with the state funding, Loiselle said, there would still be a shortage of about $1 million for the traffic improvements.
That’s where the $500,000 traffic impact fees break would help out.
Council members Jason Hyde and Patricia Rueppel were the only dissenters to the motion.
Hyde explained that while the additional improvements put more responsibility on the developer, the town cannot be expected to foot the bill for changes that are not necessary at this juncture.
Cabela’s, he said, promised to cover the traffic modifications and should own up to that promise. By giving them this tax break, he said, “we’re letting Cabela’s off the hook.”
“They’re a billion-dollar company,” Hyde said. “They don’t need half a million from us.”
In addition to the decision to waive $500,000 in traffic impact fees, the council also voted to accept a new TIF financing plan for the development.
Under the new plan, the town would only be responsible for a $2 million in general obligation bonds as opposed to $16 million, as was initially proposed.
Hooksett residents will be able to vote on the new plan at a special town meeting, time and date to be announced. Prior to that meeting, the council will hold several public information sessions on the issue.
Loiselle said he believes voters in Hooksett will readily accept the new plan, once they get the opportunity to discuss the issue and ask questions.
“I think the public, once they realize how much safer and better this is,” will be in favor of the plan, he said.
Also at the meeting, the council voted to reduce the dimensions of the TIF scheme.
The council voted to exclude the area west of I-93 from the TIF. In doing this, the town would reap more tax revenue generated by future developments in that area.
Within the next month, Loiselle said, public sessions will be held to discuss the issues with voters.