R-20-068
RESOLUTION
RELATIVE TO THE USE OF U.S. DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT HOME INVESTMENT PARTNERSHIP PROGRAM FUNDS FOR
ACQUISITION AND REHABILITATION OF 82-92 AMHERST STREET
CITY OF NASHUA
In the Year Two Thousand Twenty
WHEREAS, the City of Nashua is an entitlement community and receives U.S.
Department of Housing and Urban Development (HUD) HOME Investment Partnership Program
funds under the provisions of Title I of the Housing and Community Development Act of 1974,
as amended;
WHEREAS, the City of Nashua accepts applications for HOME funds on a rolling basis
for which funds have been set aside through the Annual Action Plan, approved by the Board of
Aldermen, for the development of affordable housing;
WHEREAS, the City has received an application for HOME funds from Amherst Place,
LLC to acquire and rehabilitate an existing 22-unit property at 82-92 Amherst Street, creating
approximately seven (7) HOME units;
WHEREAS, Amherst Place, LLC has requested $294,000 of HOME funds toward the
estimated total development cost of $2,500,000; and
WHEREAS, the City and Developer shall enter into a HOME Agreement, subject to
completion of an environmental review and underwriting, constituting the formal commitment of
the HOME funds.
NOW THEREFORE BE IT RESOLVED that the Board of Aldermen of the City of
Nashua approves the allocation of funds in the amount of up to $294,000 from the City’s HOME
Program, Affordable Housing Development line items.
BE JT FURTHER RESOLVED that the Mayor is authorized to execute all necessary
understandings, assurances and agreements pursuant to this project.
