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HomeMy WebLinkAbout06-26-17 Public Comment - K. Spencer - Norton Ranch East Subdivision Affordable Housing Plan �V ► Norton Ranch East Subdivision Affordable Housing Plan Development Name: Norton East Ranch Subdivision, Phase 4 Project Location: Pond Lily Drive and May Fly Street Legal Description: Block 12, Norton East Subdivision, Phase 4 Current Zoning: R-4 Current Use: Vacant Community Plan Designation: Residential Property Owner and Applicant: Norton Ranch Homes, LLC 63026 NE Lower Meadow Dr. Suite 200, Bend, OR 97701 Contact: Kevin Spencer, Member 541-389-0070 kspencer@ksstone.com Introduction: Norton Properties, LLC is proposing Phase 4 of development at Norton Ranch East Subdivision and seeks the use of the 90%AMI affordable housing incentive package of reduced lot sizes of 9 lots on Block 12 and expedited permit reviews. Phase 4 will consist of apartment complexes, 9 homes proposed with reduced lot sizes, office buildings and mixed-use commercial residential. In return for reduced lot sizes as noted in the incentives for the 90%AMI noted in the Affordable Housing Ordinance 38.43.110, Norton Properties, LLC will build and deed one home to an entity of choice chosen by the City of Bozeman on lot 8 of block 12 to fulfil the entire commitment for the reduced lot sizes. We understand the City has utilized HRDC as a defacto Housing Authority for many years, and the donation of a home to HRDC for affordable housing uses would meet the spirit of the voluntary ordinance. 1. Number of affordable homes proposed in each affordable home category and number of market-rate homes; Norton Ranch East Subdivision Phase 4- Block 12 Total number of homes for 9 development Total number of market-rate 8 homes- no restrictions Total number of affordable homes 1 at 90%, 80% or 70%AMI 2. Number of bedrooms in each affordable home; The affordable home given entirely to the selected entity will be a 3 bedroom, 2 % bath. See plans attached. 3. Anticipated pricing and deed restrictions; In this proposal, the deed restrictions will apply to the one home that will be applicable to the AMI level selected by the entity which controls the sale-the City of Bozeman and/or HRDC. 4. Location of affordable homes in the development (lots in the plat or units within a site plan); The affordable home will be on Lot 8 in Block 12. Please see exhibit attached. 5. Timing of the delivery of the affordable homes in relation to the market-rate homes in the development; The use of the incentive "Expedited review for affordable housing" (38.43.110) will allow all 9 homes in Block 12 will be constructed at the same time. Date to be determined by Phase 4 approval and construction. 6. Marketing plan describing how affordable homes will be offered to the public; The marketing of the product is controlled by the entity that will take ownership of this dwelling. Understanding that the City of Bozeman does not want the responsibility of marketing and/or selling, we've consulted with the HRDC and they are happy and willing to take on this responsibility. 7. Plan for construction of affordable homes in phased developments; Block 12, Phase 4 of Norton Ranch East Subdivision will consist of 8 market homes, and 1 affordable home to be completed by 2019, to be determined by approval of Phase 4. 8. Any other information that is reasonably necessary to evaluate the compliance of the affordable housing plan with the requirements of this article; In this affordable housing plan proposal,the benefits to the City of Bozeman, HRDC is as follows: 1. City of Bozeman gives Norton Properties, LLC two incentives outlines in the 90%AMI incentive package, lot reductions and expedited building permits at no financial cost to the city. 2. City of Bozeman and HRDC receives a 100%donated home in which they completely control the AMI level in which the house is sold and how the funds are used to benefit the affordable housing program in the future. 3. City of Bozeman by way of HRDC has the opportunity to assist multiple affordable home candidates in any area such as "transitional housing, affordable rentals, rental subsidies, down payment assistance, foreclosing prevention" with the profits of the donated Norton Ranch home (https://www.thehrdc.org/how-we-help/housing/).