Financial Feasibility Analysis
PREVIOUS FINDINGS
GROWTH
The City is expected to continue to grow its
population and employment base. Today’s
housing stock will not accommodate this growth.
How and where does the City want to grow
should be a key consideration in the upcoming
Master Plan.
AFFORDABILITY
Financial Feasibility Analysis
PREVIOUS FINDINGS
THE MARKET FOR AFFORDABLE
RENTAL UNITS IS TIGHT AT THE
LOW END OF THE INCOME
SPECTURM
¢ For households at or below 30% of
AMI, there are 2,943 more
households than available affordably
priced units
¢ The gap between demand and supply
for households above 100% AMI is
3,168 units
¢ The lack of higher priced rental units
in Nashua puts downward pressure
on the supply of housing priced for
lower income households
Housing Units
Financial Feasibility Analysis
PREVIOUS FINDINGS
THERE ARE MORE POTENTIAL BUYERS
IN HIGHER INCOME BRACKETS THAN
THERE ARE HOUSING UNITS THAT
MATCH THEIR PRICE POINTS
¢ For households earning at or below 30% of
AMI, there are 769 more households than
there are housing units
¢ There is a deficit of 990 units for
households above 100% AMI
¢ This indicates a potential market for new
higher priced housing that could ease the
competition for moderate income units.
Housing Units
ASSOCIATES INC
Financial Feasibility Analysis
PREVIOUS FINDINGS
ASSOCIATES INC
KEY FINDINGS FROM THE DEMOGRAPHIC AND HOUSING MARKET CONDITIONS
Nashua is a growing city.
Nashua’s population has risen rapidly since 1970,
adding nearly 30,000 new residents. Growth is
projected to continue through the year 2030 with the
city adding another 8,000 residents between 2018 and
2030. Nashua’s fastest growing age cohort are those
residents 55 years and older, while middle-aged
residents 35 to 54 are shrinking.
Financial Feasibility Analysis
BACKGROUND
PURPOSE OF THE ANALYSIS
¢ RKG performed housing market analysis for
Nashua, identifying housing needs/challenges
¢ City’s existing inclusionary zoning (IZ) policy
identified as not meeting market needs
¢ Recommendation to reconsider IZ policy to
align with market and financial realities
¢ RKG retained to perform a financial feasibility
and policy review analysis
MDING
eee
Palicy end Hos
inclusionary Zoning
Update Inclusionary Zoning Regulations
Nashua RKG
NEW HAMPSHIRE'S GATE CITY
ASSOCIATES INC
Nashua Inclusionary Zoning
Feasibility Analysis
Board of Aldermen Discussion
September 2021
fees THE CITY OF NASHUA “The Gate City"
Administrative Services Division
Date: September 22, 2021
To: Mayor Donchess
Board of Aldermen
From: Kimberly Kleiner, Administrative Services Director
Subject: Staffing — City Hall
Recently, the Board of Aldermen may have been made aware of some staff departures in the Assessing
Department. The board has also received a communication stating several untruths as to why these employees
have left the city.
Board of Aldermen 09-28-2021 Page 31
President Wilshire
| don't mind showing up Alderman Caron if I'm needed. | appreciate the courtesy of people who aren't going to be here to
at least inform us.
Alderman Lopez
Board of Aldermen 09-28-2021 Page 30
recognize past members. | think there's over 15 members who were killed in the line of duty and service to the city. And
also the countless numbers of firemen who probably gone before us that we may not remember them but it's very nice
service.
Board of Aldermen 09-28-2021 Page 29
