During a recent government meeting, city officials discussed the ongoing development project aimed at increasing affordable housing and enhancing public infrastructure in the central business district. Key points included the city's goals outlined in the original Request for Proposals (RFP), which emphasize the creation of affordable housing units, adequate public parking, adherence to design guidelines, and the inclusion of public art and green spaces.

The meeting highlighted the importance of a two-story parking garage, which is expected to be constructed first to facilitate the overall development process. This approach aims to provide necessary parking during the construction of multifamily residential units and to free up space for further development.

Financing for the project was also a significant topic. Officials confirmed that the project would utilize the Low-Income Housing Tax Credit program, which is a competitive funding source managed by New Hampshire Housing. This program will cover a substantial portion of the financing, supplemented by various other funding sources, including federal subsidies and local home funds.

Concerns were raised regarding the integration of commercial units within the development. While the RFP did not specify requirements for commercial spaces, the zoning ordinance for the area typically mandates such components. However, officials clarified that the financing structure for residential units would differ from that of commercial developments, potentially complicating the project's execution.

The meeting concluded with discussions on rental affordability, with units expected to be available for families earning at or below 60% of the area median income. Rent prices are projected to range from approximately $975 to $1,650, depending on the size of the unit. This initiative aims to address the pressing need for affordable housing while fostering economic growth in the city.