Board Of Aldermen - Agenda - 9/28/2021 - P44

By dnadmin on Mon, 11/07/2022 - 07:08

City of Nashua

P ; D r; Planning & Zoning 603 589-3090
fanning Department WEB www.nashuanh.gov

Nashua, New Hampshire 03061-2019

MEMORANDUM

Date: September 24" 2021

To: Ald. Lori Wilshire, President, and Board of Aldermen
Ald. David Tencza, Chair and Planning & Economic Development Committee

From: Matthew Sullivan, Planning Manager

RE: Referral from Board of Aldermen on Proposed R-21-170, Relative to the Approval
of the Imagine Nashua 2021 Master Plan

Board Of Aldermen - Agenda - 9/28/2021 - P41

By dnadmin on Mon, 11/07/2022 - 07:08

Board of Aldermen

City of Nashua
229 Main Street Lori Wilshire
Nashua, NH 03061-2019 President, Board of Aldermen

(603) 589-3030

September 23, 2021

Susan K. Lovering, City Clerk

City of Nashua

229 Main Street

Nashua, New Hampshire 03061-2019

Dear Ms. Lovering:

Please be advised | am hereby calling a Special Meeting of the Board of Aldermen relative to an
Assessing update on the Revaluation on Monday, November 15, 2021, at 7:00 p.m. in the Aldermanic

Chamber.

Board Of Aldermen - Agenda - 9/28/2021 - P40

By dnadmin on Mon, 11/07/2022 - 07:08

GLOSSARY OF TERMS

Capitalization Rate — Ratio between the net operating income of a property and its sales value

Discount Rate — The interest rate used in discounted cash flow analysis to determine the present
value of future cash flows

Density Bonus - A ordinance mechanism allowing a developer to build a greater number of units
than the existing underlying zoning dictates in exchange for the creation of additional affordable
units

Equity — Initial out-of-pocket investment on the part of developer that is required to obtain
financing

Board Of Aldermen - Agenda - 9/28/2021 - P39

By dnadmin on Mon, 11/07/2022 - 07:08

Development Costs

Construction Costs (PSF)

Fee Simple $165

MF - Stick $185

MF - Podium $215
Special Permit Costs (addition to soft cost) 10%
Soft Costs 20%
Land Costs Per Unit

Single Family $65,000

Townhomes $38,338

25-Unit Multifamily $50,000

125-Unit Multifamily $21,299

200-Unit Multifamily $15,000
Parking Costs (per stall)

Surface $8,000
Parking Ratios

Single Family/Townhome 2.00

Multifamily 1.50

Financing Costs

Board Of Aldermen - Agenda - 9/28/2021 - P36

By dnadmin on Mon, 11/07/2022 - 07:08

POTENTIAL HOUSING TRUST FUNDING STRATEGIES

The proposed payment in lieu of partial inclusionary units detailed earlier in the report can create

some revenue for the City’s housing trust. However, the value differential between market rate and

80% of AMI is not substantial and the number of developments each year likely will be limited. To

this point, RKG Associates was asked to identify some other best practices for creating revenue

Subscribe to Agenda