HomeMy WebLinkAbout17259 CAHAB memo
MEMORANDUM
TO: COMMUNITY AFFORDABLE HOUSING ADVISORY BOARD
FROM: CHRIS SAUNDERS
SUBJECT: LAKES AT VALLEY WEST PLANNED UNIT DEVELOPMENT
APPLICATION NO. 17239
DATE: OCTOBER 6, 2017
Project Description: The developer of the Lakes at Valley West requests consideration of two
items:
1) Alternate compliance to the terms of 38.43 through an upcoming PUD. They propose an
alternate income qualification approach as shown in the attached materials.
2) Impact fee support for townhomes to be constructed. See the attached materials. Four
homes are presently contemplated with up to four more at this time.
More information regarding the project is provided in the attached documents.
Project Location: Property addressed at Sartain Street and Hoover Way, E /12, W 1/2 , SE ¼, SW
¼, Section 35, Township 1 South, Range 5 East, P.M.M City of Bozeman, Gallatin County, Montana.
Impact Fee Subsidy Request: Applicants are requesting the full subsidization of impact fees for
the project. The total estimated request is $5,081.89 per home.
Recommended Motion: Having considering the request and relevant information, we recommend
approval of the impact fee subsidy requested for the Lakes at Valley West if it is determined that the
AHP meets the requirements of the City of Bozeman Affordable Housing Ordinance.
Relevant Citations from Bozeman Municipal Code:
1) Section 38.43.110. – Incentives available for affordable housing. Developers may apply
for incentives in conjunction with a development application by submitting an affordable
housing plan pursuant to Section 38.43.080. When the development includes Lower-priced
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homes affordable to households with an income of 70% or 80% AMI, the applicant may
apply for full or partial subsidization of impact fees, paid from municipal funds if such
funds are available; such subsidization must be secured with a lien instrument due upon
sale, transfer or non-rate/term refinance of the home.
2) Section 38.43.050. – Pricing of affordable homes. The city will calculate on an annual
basis the maximum sales price a developer may charge for each category of affordable
home included in a developer’s affordable housing plan.
Attachments: Proposal
c: file