Issues and Opportunities
Downtown Nashua
ESTIMATING REHABILITATION NEEDS CITYWIDE.
The City of Nashua offers an annual Home Improvement Program (HIP) and a Rental
Rehab Program funded through the City’s Community Development Block Group
(CDBG) funds. The City makes loans under these programs to improve older inner-
city neighborhoods and preserve the supply of housing. Loans are available to
owner-occupants of 1-4-unit buildings and investors who own buildings of 1-8 units
who also meet the income restrictions of being at or below 80% of AMI (or their
tenants must meet these requirements).
The loan is offered at 0% interest and the principal is repaid when the property is
sold or transferred. Investors must contribute 10% of the total contract costs for
rental rehab. Funding for the loan program is available on a first come, first served
basis until the money is committed. Over the last four years of the program, the City
was able to fund between 4 and 13 loans with total CBDG funds between $46,855
and $121,297 per year.
Funds can be used for a wide range of housing rehabilitation projects such as:
* Roof repair
¢ Plumbing/Bathrooms
* Kitchen repairs
* Doors
* Windows
* Electric
* Lead abatement
¢ Heating
* Accessibility improvements
¢ Exterior improvements
Nashua Housing Study - 51
Nashua Housing Improvement Program
Summary 2017-2019
Source: City of Nashua, RKG Associates
Program No. of CDBG
Year Units Allocations
2016 13 $110,958
2017 4 $46,855
2018 7 $111,388
2019 10 $121,297
Total 34 $219,692
Nashua Housing Improvement Program
Funding by Year Built of Structure
Source: City of Nashua, RKG Associates
No.of CDBG Avg Funds
Year Built Units Allocations Per Unit
Pre-1930 18 $207,264 $11,514
1930 - 1960 7 $107,718 $15,388
1961 - 1979 6 $49,266 $8,211
1980 - Present 3 $26,250 $8,750
Total 34 $390,498 $11,485
RKG
ASSOCIATES INC
