Shared Statement in Support of More Rental Housing

We are members of the following Peterborough committees:
• Select Board
• Planning Board
• Economic Development Authority (EDA)
• Affordable Housing Subcommittee of the EDA
• Master Plan Steering Committee
• Zoning Board

Thanks to efforts made by members of the Affordable Housing Subcommittee, we issue this shared
public statement acknowledging the need for more and varied rental housing in our community,
including affordable, workforce, and market-rate units*.

As civic volunteers who live in Peterborough, we understand the challenges being faced by our
neighbors, many of whom work at jobs critical to the strength and vibrancy of our community: bank
tellers, grocery store clerks, artists, musicians, firefighters, LNAs, restaurant staff, teachers, etc.
We also know there’s a need for rental housing for residents who would like to age in place and for
young families looking to grow or relocate here. As such, we are committed to bringing a larger mix of
rental housing to Peterborough using the resources we have at hand**:
• land use regulations
• local housing trusts
• community action agencies
• community revitalization districts

In addition to implementing these tools, the Affordable Housing Subcommittee (in conjunction with the
Office of Planning and Building) will be launching a digital bimonthly bulletin, “Neighbors Together,” and
a corresponding web component dedicated to keeping the community informed of progress being made
to tackle our rental housing crisis and how they can participate.

Generating more and varied rental housing in Peterborough is an immense task that requires talented
and dedicated individuals to dig in and do the work required to make all the pieces come together. We
want you, the public, to know that all members of the committees listed above are dedicated to doing
the best we can to ensure that every person who wants to live in Peterborough can do so.

All of our meetings are open to the public. We welcome your feedback and invite you attend.



*Housing descriptions:
Affordable rentals: defined by the US Department of Housing and Urban Development as rental housing
costing no more than 30% of one’s gross income, including utilities. Area median income (AMI) is not
used to determine affordability in this type of housing.

For instance, an affordable apartment for a single person living in Peterborough and making $45,000
annually would cost no more than $1,125 each month, including utilities.

• An example would be some of the units at Heatherbrook Apartments located in West Peterborough. These apartments are owned by Nubanusit Partners and managed by THM Property Management.

Workforce rentals: according to NH’s Workforce Housing Law, workforce rental housing is affordable to middle-income households earning no more than 60% of area median income (AMI).

In Hillsborough County, 60% of the 2022 AMI for a three-person household is $59,130++. A rental that’s considered affordable in this scenario is 30% of a $59,130 income or $1,478/mo., including utilities. (See chart below).

• An example would be apartments on Pine Street owned and managed by Contoocook Housing Trust.

Market-rate rentals: rental housing available on the private market, not subsidized or restricted by income eligibility.

• An example would be the apartments at 1 Pine Street in Peterborough.

**Examples of the resources we have at hand:

1. Adjustments to land use regulations: changes to zoning codes that make building workforce and affordable housing easier to achieve
2. Local housing trusts: Contoocook Housing Trust
3. Community action agencies: Southwest Community Services, NH Housing Finance Authority
4. Community revitalization districts: tax reprieve, based on RSA 79-E, which delays increased property taxes when substantial rehabilitation or new construction includes affordable or workforce rentals

+US Census Data 2020     
++NH Housing Finance Authority/HUD

Contact information: Danica Melone, Town Planner, Peterborough, NH, 603-924-8000, x116 or
dmelone@peterboroughnh.gov.