Bedford to Take Innovative Approach to Promoting Business Growth

While discussing the concept of Economic Revitalization Zones (ERZs), one Bedford Town Councilor aptly described the concept as a "win-win" for Bedford residents and business owners/developers.

At Wednesday night's Bedford Town Council Meeting, Town Manager Jessie Levine rolled out a presentation on a proposal that will designate five separate areas of Bedford as (ERZs).

Levine explained that the ERZ program, which is organized through the New Hampshire Department of Resources and Economic Development (DRED), is intended to stimulate redevelopment of vacant or rundown commercial and or industrial properties, create new jobs and reduce sprawl by providing tax credits to property developers and business owners.

The best part, explained Levine, is that once the town applies and is granted acceptance into the program, the state takes over and provides the tax credits. In other words, there is no impact on the municipal tax rate.

"There are no downsides in designating ERZs," she told the town council. "There is no cost to municipalities to apply, and the municipality plays no role once the areas have been designated. Furthermore, designating these sites has no impact on taxpayers. Unlike Tax Increment Finance Districts, all increased value from ensuing development will be captured town-wide, and there are no resulting changes in planning and zoning procedures or requirements for the property owner."

In addition, Levine noted ERZs will help entice new businesses, especially against competing communities that already have Economic Revitalization Zones in place. Merrimack, Londonderry, Amherst and Goffstown are among roughly 50 Granite State communities currently touting ERZs.

Levine proposed the following five Bedford areas be designated as ERZs:

1. South River ERZ (Performance Zone District on South River Road from the Manchester town line to Merrimack town line);

2. Route 114 ERZ (Service Industrial Zone on Route 114 from the Old Bedford Road overpass to the Goffstown town line);

3. Route 101 East ERZ (Commercial Zone District including the Bedford Hills mixed use site, Constitution Drive, and the Bedford Village Inn);

4. Route 101 Central ERZ (Commercial Zone District on both sides of Route 101 from Nashua Road to Wallace Road, and then on the south side of Route 101 until Covenant Way);

5. Route 101 West ERZ (Commercial Zone on both sides of Route 101 around Jenkins Road).

After a brief discussion on the subject, Bedford Town Councilors unanimously supported the initiate.

"I believe what we're doing here is a step in the right direction," said Norm Longval. "I endorse this 100 percent ... everyone is going to make out. This is a win-win situation for everyone in the community."

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