Leverage Public
Land for Housing
Production
Reintroduce
First Time Homebuyer
Program
The City should continue to
explore all options such as
deferring tax payments if
affordable housing is included,
selling the land at a significant
discount, or providing a grant or
no interest rate loan for a portion
of the cost.
Expand Rental
and Owner Rehab
Programs
Find ways to either leverage other
funding sources or find ways to
require payment of the loan over
time to build a revolving source of
capital.
Revisit the feasibility of offering
first time homebuyer assistance
in the form of down payment
assistance and closing cost
assistance.
- These two barriers to
homeownership are becoming
more acute as home prices
continue to escalate year over
year making it more difficult
for households to purchase
homes for the first time and
have some ability to move
from rental to ownership
housing.
Evaluate the type of program to
offer and the most effective way
to fund that program.
Employer
Assisted Housing
The City should evaluate a
program to partner with major
employers, like the hospitals, to
gauge interest in partnering over
time on an employer assisted
housing program.
Comprehensive Master Plan
Housing
The City of Nashua currently
offers two separate residential
rehabilitation programs
through the City’s CDBG
Housing Program. The first is
an owner-occupied Housing
Improvement Program (HIP)
which provides 0% interest
loans to correct code, safety,
health, or accessibility issues.
The City also began offering a
rental rehab program to assist
landlords with correcting
serious code, safety, health,
or accessibility issues. Given
the estimated rehabilitation
needs of property just in
the Downtown area alone
(estimated at $12 million),
these two rehabilitation
programs are of critical
importance to improving and
maintaining higher quality
affordable housing across the
City. Keeping these programs
in place and making them
financially sustainable over
time should be a priority for
the City.
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