HomeMy WebLinkAbout05-14-18 Public Comment - D. Schliem (Bozeman Chamber of Commerce) - Affordable Housing Work Plan
Housing Position Statement
In an effort to help develop a viable workforce housing plan for our community, the Bozeman
Area Chamber of Commerce endorses the following recommendations:
1. The issue of housing encompasses three unique areas:
I) Entry assistance housing, wherein creditworthy home purchasers are unable to
afford a down payment for a home or to pay market prices and payments for a
home are offered subsidies for down payments and programs where the
municipality provides below-market priced homes for this segment of the
market.
II) Workforce housing designed to accommodate the needs of employees working
in the area. This may or may not include ownership
III) Housing for those individual’s incapable of sustaining traditional housing
requirements such as monthly payment obligations, taxes, insurance etc. due to
mental, physical limitations or life events that cause housing needs.
2. The Chamber endorses the need to establish a formula for determining the
identification of workforce/affordable housing in the area. For this type of housing, the
Chamber recommends expanding the definition of homes to include condominiums,
apartment units, manufactured housing, modular housing, and other suitable housing
options that provide safe functional homes at prices within the guidelines described
below.
3. Today, using the Housing and Urban Development 2018 Area Median Income statistic
of $81,200 (family of four) Area Median Income for Gallatin County, and applying a
formula using 30% of the AMI for housing costs, it’s been determined the affordable
living unit would be priced at or under $378,000 as of the date of this writing. Based on
this number, we determine there are, as of April 26, 2018, 115 affordable homes
available for purchase in Gallatin County. * We believe the housing affordability formula
used by HUD is applicable to our situation and would fit hand and glove with existing
FHA and VA lending guidelines, thus making it easier to receive financing for housing;
thus, drive the cost of housing downward. To try and re-create formulas different than
HUD guidelines would make secondary-market financing difficult if not impossible to
achieve and would force the burden of financing and subsidizing housing costs directly
back to the municipalities in the county through their stand-alone programs.
4. To gain public support for these programs, the Chamber recommends changing the
name of the city program to include the three separate types of housing needs defined
herein.
5. The Chamber recommends that any housing program designed to achieve our stated
goals include a transportation consideration to transport workers and financially-
stressed citizens to and from their various locations. These would include expanding
services for the Streamline bus service and utilizing other transportation options.
These recommendations are provided by the Bozeman Area Chamber of Commerce as a willing
and able partner in the city and county’s challenge to address the issue of sustainable housing
for our residents.
If you have questions, please contact, Daryl W. Schliem President /CEO –
dschliem@bozemanchamber.com or 406-922-0448 direct
*Source Big Sky Country Multiple Listing Service