LEGISLATIVE YEAR 2021
RESOLUTION; R-21-118
PURPOSE: Establishing a housing expendable trust fund funded by
appropriations and making a supplemental appropriation of
$30,000 into the expendable trust fund
SPONSOR(S): Mayor Jim Donchess
Alderwoman-at-Large Shoshanna Kelly
COMMITTEE
ASSIGNMENT: Budget Review Committee
FISCAL NOTE: Establishes a restricted fund to account for appropriations
designated for a specific purpose. Proposed current year
appropriation reduces year end general fund surplus. Future
appropriations to this fund are through the annual budget
process.
ANALYSIS
This legislation establishes a non-lapsing housing expendable trust fund, funded by
appropriations, to be used for the purposes listed in the legislation. There is a stated non-
binding intention that annual appropriations into this trust fund will be presented in the annual
budget beginning with the proposed FY2022 annual budget, and will include, but not be
limited to, an annual $10,000 per year payment from Nashua Plaza Housing Associates, LP
(“Clocktower”) under an Agreement with the City dated November 25, 1998. RSA 31:19-a, I
provides for an annual accounting and report of the activities of the trust.
This legislation also appropriates $30,000 of FY¥2021 unanticipated revenue from Other General
Govemment — Miscellaneous Revenue - Revenue from Clocktower into the new expendable
trust fund. The $30,000 is a recently received three year payment from Clocktower under the
noted agreement. Charter Sec, 53 permits specific non-budget, supplementary appropriations.
There should be notice and a public hearing. A two-thirds vote is required under Charter Sec.
56-b for an item or amount not in the mayor’s budget. A roll call is required under Charter Sec.
49.
Approved as to account Financial Services Division
structure, numbers, _
and amount: By: /s/John Griffin
Approved as to form: Office of Corporation Counsel
By: (arb Later,
Date: \\ Adabuasicy, Du
