Minutes

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

Board of Aldermen 09-28-2021 Page 28

President Wilshire

All right, enough.

Alderwoman Lu

...80 that this woman would be...

President Wilshire

Enough Alderman Lu. Someone else was speaking.
Steve Bolton, Corporation Counsel

Board of Aldermen 09-28-2021 Page 27

Steve Bolton, Corporation Counsel
You weren't there. You don't know. That's untrue.
Alderwoman Lu

If any of us look at the Judge's ruling, she was awarded her legal fees for this particular case because of well, because
the Judge decided to admonish what our legal team did and | just want...

Steve Bolton, Corporation Counsel

No that’s not true. The Legal Department was not admonished by the Judge.

Alderwoman Lu