Q-21-073
ORDINANCE
AMENDING THE INCLUSIONARY ZONING SUPPLEMENTAL USE
REGULATIONS
CITY OF NASHUA
In the Year Two Thousand and Twenty-One
The City of Nashua ordains that Part II “General Legislation”, Chapter 190 “Land Use”, Part 2
“Zoning Districts and Supplemental Use Regulations”, Article VI “Supplemental Use
Regulations”, Section 190-48 “Inclusionary Zoning” of the Nashua Revised Ordinances, as
amended, be and hereby is further amended by deleting the existing section and replacing it in its
entirety as follows:
Ҥ 190-48. Inclusionary Zoning.
A, Definitions. As used in this section, the following terms shall have the meanings
indicated:
AFFORDABLE
(1) For rental housing, that the total housing costs for the dwelling unit,
inclusive of utilities and other directly related expenses, do not exceed 30% of the
income of the household; or
(2) For owner-occupied housing, that the total cost of mortgage principal and
interest, property taxes, association fees and homeowners’ insurance does not
exceed 33% of the maximum allowed income of the purchaser. Calculation of
housing costs shall be based on a methodology developed by the CDD that outlines
reasonable assumptions for taxes, utilities, down payment levels, and mortgage
terms. In the absence of a current methodology, the calculation shall be based on a
30-year fixed rate mortgage with the average current interest rate for a no-points
mortgage, a five percent down payment, and most current taxes, insurance, and
other incidental costs, and shall include an assumed private mortgage insurance if
relevant.
