Minutes

Financia! Feasibility Analysis

UPDATE INCLUSIONARY ZONING REGULATIONS

Issues /Opportunities Addressed: @
Timeframe for Action: Short Term

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

Housing prices (sales and rents) are ovtpocing what most
Nashua residents can afford. This means households

Financial Feasibility Analysis
PREVIOUS FINDINGS

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

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, which would create more
affordable housing

The inclusionary Zoning concept was further studied and
a financial feasibility study and policy review analysis
was undertaken

Nashua

ASSOCIATES INC

Nashua Inclusionary Zoning
Special Board of Aldermen Mtg

Ordinance 0-21-073

December 21, 2021

Prepared by
RKG Associates, Inc.

Special Board of Aldermen 12-21-2021 Page 28
Alderman Jette

Madam President can't Alderman O'Brien do a roll call?

Jeff Poehnert

Can you hear me? You guys can on Zoom.

Alderman Clemons

Yes | can hear you.
Alderwoman Lu
| can hear you.

President Wilshire

Okay. We're gonna start over on the vote. Alderman O’Brien will take the vote. Motion is for final passage.
A viva voce roll call was taken which resulted as follows:
Yea: Alderman Klee, Alderman Dowd, Alderman Caron, Alderman Lopez,

Special Board of Aldermen 12-21-2021 Page 27

Unidentified Female Speaker

Can you all just please be quiet and let them finish.

Unidentified Female Speaker

We all know what they’re voting for.

President Wilshire

Is there no opportunity Jeff to mute the people on Zoom?

Unidentified Female Speaker

We didn't get to mute you.

President Wilshire

This is not your meeting.

Unidentified Female Speaker

So let us talk.

President Wilshire

| will not.

Unidentified Female Speaker

Special Board of Aldermen 12-21-2021 Page 26

Alderman O’Brien

No, nobody from the Board.

President Wilshire

Okay, any further discussion in the chamber?

Alderman Caron

Thank you. | wasn't going to speak but | have a question though to the Board. How fast are you going to get this if
this is approved? How fast are you going to get this information out to the local businesses and get signs to them so
that they can get them up? That's number one.

Special Board of Aldermen 12-21-2021 Page 25

Bobbie Bagley, Director of Public Health and Community Services

President Wilshire did you want the number. | know that Alderwoman Lu asked for the availability of the hospital beds
so | just pulled this number up. This information can be found on the State's website under COVID-19.

Unidentified Female Speaker

Let the public speak.

President Wilshire

Jeff, can you the people on Zoom please? Sorry.

Bobbie Bagley, Director of Public Health and Community Services

Special Board of Aldermen 12-21-2021 Page 24