Board of Aldermen Page 14
April 12, 2016
Alderman McGuinness
Alderman Siegel, are we subordinating to a greater amount of money that already exists? We are in third
position now and we are going to become second.
Alderman Siegel
We don't have a lien position; we are a cut out here. It’s the Department of Housing and Urban Development
that we are doing this on behalf of. We are going from third position to second position and it has no material
effect on the city’s finances other than if we do this we get $500,000 minimum, it could potentially be larger so
again this would be nuts not to do.
Alderman Lopez
Based on what | am hearing | can’t imagine a scenario where it would make sense to force one of our largest
housing provider’s downtown to pay $11 million to HUD so | am in favor of this. | also appreciated the attention
to low income housing, which is something we have a shortage of downtown. Everything that | am hearing
suggests that this is a benefit to the city; we are due to bring in money with no risk to our own budget so | am in
favor of it.
Alderman Wilshire
The other aspect of that is that there are 55 affordable units in this property that they will retain and that’s
important for our city.
MOTION CARRIED
Resolution R-16-020 declared duly adopted.
R-16-021
Endorsers: Alderman Richard A. Dowd
Alderman-at-Large Lori Wilshire
APPROVING THE COST ITEMS OF A COLLECTIVE BARGAINING AGREEMENT BETWEEN THE
NASHUA BOARD OF EDUCATION AND THE NASHUA ASSOCIATION OF SCHOOL PRINCIPALS
FROM JULY 1, 2015, THROUGH JUNE 30, 2018
Given its second reading;
MOTION BY ALDERMAN DOWD FOR FINAL PASSAGE OF R-16-021
ON THE QUESTION
Alderman Dowd
This contract has been approved by the Board of Education. The yearly cost increases are very low, the
funding has already been allocated within the school budget and as you heard, some of the other unions might
not be in as good of a positon. The principals have bargained in good faith and kept the increases at a very
reasonable level. With that also the Budget Review Committee recommends final passage.
Alderman Siegel
| think it is more than reasonable. There are no increases, it’s flat lined. The only large number in this contract
is one that is the speculative pension number in the last year of the contract and it’s based on a guesstimate of
what’s going to happen with the adjusted pension costs. You can’t ask people for anything better than don’t
