[Adopted 6-14-2022 by Ord. No. O-22-017]
The Housing Trust Fund Committee for the City of Nashua is hereby established. The functions of the Committee shall include the following responsibilities:
A. 
Making recommendations to the Mayor as the agent to expend for funds from the Housing Trust Fund.
B. 
Developing the guidelines for the Housing Trust Fund. The guidelines shall support the creation of affordable housing units and housing development or redevelopment projects with unique financial, environmental, or other challenges that impact the provision of affordable housing.
C. 
Developing the criteria for project eligibility and assist in the determination of eligible applicants for expenditure of Housing Trust Fund monies.
D. 
Identifying opportunities and potential barriers to implementing the City's affordable housing goals and making recommendations to address those challenges.
E. 
Improving housing access with respect to City residents at all life stages, household compositions, physical abilities, and socioeconomic levels.
F. 
Guiding and supporting outreach and engagement initiatives and activities related to affordable housing. This may include assistance in the creation and distribution of affordable housing literature and community education on housing, generally.
G. 
Recommend policies, ordinance changes, or modifications to the City's housing programs.
A. 
The Committee shall consist of seven members. The members are as follows:
(1) 
One member of the Board of Aldermen who will also serve as liaison between the Committee and Board of Aldermen, and will be appointed by the president of the Board of Aldermen. The term of this member shall be two years.
(2) 
One member shall be a Nashua resident of a low-income neighborhood or a low-income community resident, and will be appointed by the Mayor subject to the approval of the Board of Aldermen.
(3) 
One member shall be a licensed New Hampshire attorney in good standing who practices in the City and will be appointed by the Mayor subject to the approval of the Board of Aldermen.
(4) 
One member shall be a finance professional with experience in housing lending in the City or State of New Hampshire and will be appointed by the Mayor subject to the approval of the Board of Aldermen.
(5) 
One member shall be a representative of a housing advocacy group and will be appointed by the Mayor subject to the approval of the Board of Aldermen.
(6) 
One member shall be the Community Development Division Director or his or her designee. The term of this member shall be indefinite.
(7) 
One member shall be the Economic Development Division Director or his or her designee. The term of this member shall be indefinite.
B. 
Unless otherwise indicated, the terms of the members shall be for three years and initial appointments shall be staggered so that subsequent appointments shall not occur at the same time.
The Community Development Division Director or designee shall serve as Chairperson, with the Economic Development Director or designee as Vice Chairperson. The Committee shall establish its bylaws for the orderly conduct of business and regular dates and times for meetings and the orderly conduct of business. The members of the Committee shall serve without compensation. Each member of the Committee shall hold office until his/her successor is appointed and approved, unless sooner removed. The Planning Department shall serve as staff to the Committee.