A special meeting of the Board of Aldermen was held Tuesday, March 23, 2021, at 6:30 p.m. via Zoom
teleconference.
President Lori Wilshire presided; City Clerk Susan K. Lovering recorded.
Prayer was offered by City Clerk Susan K. Lovering; Alderman Ernest A. Jette led in the Pledge to the Flag.
President Wilshire
LEGISLATIVE YEAR 2021
RESOLUTION; R-21-118
PURPOSE: Establishing a housing expendable trust fund funded by
appropriations and making a supplemental appropriation of
$30,000 into the expendable trust fund
SPONSOR(S): Mayor Jim Donchess
Alderwoman-at-Large Shoshanna Kelly
COMMITTEE
ASSIGNMENT: Budget Review Committee
FISCAL NOTE: Establishes a restricted fund to account for appropriations
R-21-118
RESOLUTION
ESTABLISHING A HOUSING EXPENDABLE TRUST FUND FUNDED BY
APPROPRIATIONS AND MAKING A SUPPLEMENTAL APPROPRIATION OF
$30,000 INTO THE EXPENDABLE TRUST FUND
CITY OF NASHUA
In the Year Two Thousand and Twenty-One
RESOLVED by the Board of Aldermen of the City of Nashua that pursuant to RSA
31:19-a, the City of Nashua hereby establishes a housing expendable trust fund, funded by
appropriations, that will be used for the foliowing purposes:
SPECIAL BOARD OF ALDERMEN
APRIL 8, 2021
7:00 PM
Join Zoom Meeting: https://us02web.zoom.us/j/89388820492? pwd=c 1 R2NU FvdU9QUEIP Y0gzaytrd IJEZ 209
Meeting ID: 893 8882 0492 Passcode: 264334
Join by telephone: 1-929-205-6099
Meeting ID: 893 8882 0492 Passcode: 264334
If for some reason you cannot connect to Zoom, please contact us at (603) 821-2049 and they will help you
with connectivity. The public may also view the meeting via Channel 16.
Sarah Marchant, AICP
Community Development Director
marchants@nashuanh.gov
RK Housing study for the City of Nashua, New
Hampshire
November 2020
ASSOCIATES INC
Starting the Housing Trust Fund
$30,000 initial deposit from the
Nashua Plaza Housing
Associates
$10,000 annual payment from
Nashua Plaza Housing
Associates and potential future
termination fee
Program to be managed by Urban
Programs Department (UPD)
Next Step: Focus on identifying
and developing additional revenue
sources as outlined in Housing
Study
Downtown Nashua
MEDIAN INCOME
IN THE
DOWNTOWN IS
LOW COMPARED
TO THE REST OF
THE CITY.
Median Household Income, 2018 source: acs 2018
Nashua River
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ASSOCIATES INC
Median HH Income
GED S0 - $44,000
GED $44,001 - $71,000
GED $71,001 - $96,500
Downtown Nashua
RENTER
HOUSEHOLDS
ARE MORE
PREVALENT
DOWNTOWN THAN
ELSEWHERE IN
THE CITY.
Percent Renter Households, 2018 source: acs 2018
Nashua River
% Renter Households
0% - 23%
24% - 49%
GED 50% - 74%
GERD 75% - 95%
ASSOCIATES INC
Financial Resources of Homebuyers and Renters Home Sale Prices in Nashua, 2010-2019 source: mis 2010- 1
2019
Comparison of Existing Home Sales to New Home Sales
Source: MLS 2010-2019
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
2010 20114 2012 2013 2014 2015 2016 2017 2018 2019
MLS Sale Price Range
Less than $200,000
$200,001 - $275,000
$275,001 - $350,000
GED $350,001 - $500,000
GERD More than $500,000
Rents
RENTS ARE RAPIDLY
INCREASING
IN NASHUA.
¢ Median Gross Rent increased
19% from 2013-2018
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2018:
Median Gross Rent
$1,287 per Month
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
ASSOCIATES INC
Change in Gross Rent 2013-2018
Source: ACS 2013 and 2018
