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APPENDIX 1

Baseline Model Assumptions
Revenues Assumptions
Downtown/Amherst/Exit 1 Market Rents
Studio $1,779
1BR $1,860
2BR $2,316
3BR $2,688
Downtown/Amherst/Exit 1 Market Rents per SF
Studio $3.38
1BR $2.44
2BR $2.41
3BR $2.24
Suburban Market Rents
Studio $1,601
1BR $1,674
2BR $2,084
3BR $2,419
Suburban Market Rents per SF
Studio $3.04
1BR $2.20
2BR $2.17
3BR $2.02
Market Sales Values for Single Family/Townhomes
1BR $300,000
2BR $350,000
3BR $550,000
Parking Income (Rental) (per spot) $75
Vacancy Rate (Rental) 5%
Unit Sizing
Size of Multifamily Units in SF
Studio 526
1BR 762
2BR 961
3BR 1,200
Size of Townhomes in SF 1,294
Size of Single-Family Homes in SF 1,853

Development Costs

Construction Costs (PSF)

Fee Simple $165

MF - Stick $185

MF - Podium $215
Special Permit Costs (addition to soft cost) 10%
Soft Costs 20%
Land Costs Per Unit

Single Family $65,000

Townhomes $38,338

25-Unit Multifamily $50,000

125-Unit Multifamily $21,299

200-Unit Multifamily $15,000
Parking Costs (per stall)

Surface $8,000
Parking Ratios

Single Family/Townhome 2.00

Multifamily 1.50

Financing Costs

First Year of Operations 2021
Construction Period 1 year
Inflation Rate 2%
Mortgage Term

Rental (Years) 20

For Sale (Years) 2
interest Rate

Rental 5.50%

For Sale 5.00%
Equity

Rental 25.00%

For Sale 25.00%
Capitalization Rate (Rental) 5.50%
Cost of Sale 2.00%
Reversion (Years)

Rental (Years) 10

For Sale (Years) 1
Stabilization Period (Years) 1
Origination Fee % 1.50%
Developer Operating Expense Ratio (OE/PGI) 25.00%
Discount Rate (NPV) Rental 15.00%
Discount Rate (NPV) For Sale 20.00%

GLOSSARY OF TERMS

Capitalization Rate — Ratio between the net operating income of a property and its sales value

Discount Rate — The interest rate used in discounted cash flow analysis to determine the present
value of future cash flows

Density Bonus - A ordinance mechanism allowing a developer to build a greater number of units
than the existing underlying zoning dictates in exchange for the creation of additional affordable
units

Equity — Initial out-of-pocket investment on the part of developer that is required to obtain
financing

Effective Gross Income — Gross income minus the vacancy collection loss
Fee in-Lieu — Payment made to City to account for fractional affordable unit not built.

Internal Rate of Return - Annualized rate of return sought by a developer based on the project
discounted cashflow

Net Operating Income -— Net income after deducting operating expenses from potential gross
income

Net Present Value — Net value of the initial investment and cashflows generated from a project,
discounted back to the current year

Operating Expenses — Expenses related to operating the building such as maintenance, salaries,
and repairs

Other Income — Income generated from the property aside from rent, this income is parking
revenues for leased spaces

Potential Gross Income — Potential income generated from rental income or sale of a property.
Calculated by multiplying the number of units and rent for each unit

Residual Land Value - The price a developer pays for a piece of land. Generally, involves
calculating the income expectations for the developed land, subtract all expenses associated with
this development, and the remainder is the land residual

Vacancy and Collection Loss — Percent of rent that is uncollectable

Value Gap - Difference in value between a market rate unit and affordable unit

Board of Aldermen

City of Nashua
229 Main Street Lori Wilshire
Nashua, NH 03061-2019 President, Board of Aldermen

(603) 589-3030

September 23, 2021

Susan K. Lovering, City Clerk

City of Nashua

229 Main Street

Nashua, New Hampshire 03061-2019

Dear Ms. Lovering:

Please be advised | am hereby calling a Special Meeting of the Board of Aldermen relative to an
Assessing update on the Revaluation on Monday, November 15, 2021, at 7:00 p.m. in the Aldermanic

Chamber.

Thank you.
Sincerely,
Lori Wilshire
President

cc: Mayor Jim Donchess
Steven A. Bolton, Corporation Counsel
Kim Kleiner, Administrative Services Director

Board of Aldermen

City of Nashua
229 Main Street Lori Wilshire
Nashua, NH 03061-2019 President, Board of Aldermen

(603) 589-3030

September 21, 2021

Susan K. Lovering, City Clerk

City of Nashua

229 Main Street

Nashua, New Hampshire 03061-2019

Dear Ms. Lovering:

Piease be advised | am hereby calling a Special Meeting of the Board of Aldermen relative to a
presentation from the Beautification Committee on their accomplishments and what they would like to
work on in the future on Tuesday, December 14, 2021, at 7:00 p.m. in the Aldermanic Chamber.

Thank you.
Sincerely,
Lori Wilshire
President

cc: Mayor Jim Donchess
Steven A. Bolton, Corporation Counsel

City of Nashua

; Planning & Zoning 603 589-3090
Planning Department WEB www.nashuanh.gov
Nashua, New Hampshire 03061-2019

MEMORANDUM

Date: September 24" 2021

To: Ald. Lori Wilshire, President, and Board of Aldermen

From: Matthew Sullivan, Planning Manager

RE: Referral from Board of Aldermen on Proposed R-21-169, relative to the
authorization of the City of Nashua to enter an Agreement and Consent to Joint Use
with Liberty Utilities and making a supplemental appropriation of $38,394

At the Nashua City Planning Board's regularly scheduled meeting of September 23", the
Planning Board voted unanimously to make a favorable recommendation on R-21-169,

If you have any questions concerning this notification, please contact me at 603-589-3090
or via sullivanm@nashuanh gov.

cc: Mayor Jim Donchess
Donna Graham, Legislative Assistant
Sarah Marchant, Community Development Director
Susan Lovering, City Clerk
Scott LeClair, Chair, NPCB

City of Nashua

P ; D r; Planning & Zoning 603 589-3090
fanning Department WEB www.nashuanh.gov

Nashua, New Hampshire 03061-2019

MEMORANDUM

Date: September 24" 2021

To: Ald. Lori Wilshire, President, and Board of Aldermen
Ald. David Tencza, Chair and Planning & Economic Development Committee

From: Matthew Sullivan, Planning Manager

RE: Referral from Board of Aldermen on Proposed R-21-170, Relative to the Approval
of the Imagine Nashua 2021 Master Plan

At the Nashua City Planning Board's regularly scheduled meeting of September 23", the
Planning Board voted unanimously to make a favorable recommendation on R-21-170.

If you have any questions concerning this notification, please contact me at 603-589-3090
or via sullivanm@nashuanh gov.

cc: Mayor Jim Donchess
Donna Graham, Legislative Assistant
Sarah Marchant, Community Development Director
Susan Lovering, City Clerk
Scott LeClair, Chair, NPCB

gsas\ THE CITY OF NASHUA Ce

Division of Public Works

olduninistration

Memorandum
To: Board of Aldermen
From: Lisa M. Fauteux, Director of Public Works
Date: September 24, 2021
RE: Referrals from Board of Aldermen — R-21-165, R-21-166 and R-21-169

Please be advised that the Board of Public Works met on September 23, 2021 and voted to
provide the Board of Aldermen with positive recommendations concerning proposed
resolutions R-21-165, R-21-166 and R-21-169.

9 Riverside Street * Nashua, New Hampshire 03062 » Phone (603) 589-3140 « Fax (603) 589-3169

Jim Donchess
Mayor e City of Nashua

To: Board of Aldermen

From: Mayor Jim Donchess

Date: September 3, 2021

Re: Multi-Year Contract Award — Interpreting Services Contract

Pursuant to NRO: § 5-74/B: A contract that extends from the current fiscal year into succeeding

fiscal year(s) in which no funds have been appropriated nor otherwise designated for this purpose
shall be approved by the full Board of Aldermen before the contract shall become binding on the

City.

The Finance Committee has approved and placed on file the notification of the award of the
referenced contract at the September 15, 2021 meeting and as such | am requesting the full Board
of Alderman approve the following contract:

Item: Phone and Insight Video Interpreting Services

Value: Not to exceed $3,500/annually

Vendor: Language Line Services Inc

Purchasing Memo#: 22-167 dated September 3, 2021

Contract Term: Agreement continues in effect until terminated with 120 days

written notice

Thank you.

229 Main Street * PO Box 2019 * Nashua, New Hampshire 03061-2019
603.589.3260 * fax 603.594.3450 * NashuaMayor@NashuaNH. gov
www.NashuaNH. gov