HomeMy WebLinkAbout17583 West Winds Subdivion Affordable Housing Plan - CAHAB Memo
MEMORANDUM
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TO: Community Affordable Housing Advisory Board (CAHAB)
FROM: Matthew Madsen, AFFORDABLE HOUSING PROGRAM MANAGER
PLANNING
RE: West Winds Subdivision Affordable Housing Plan
DATE: 10/10/2018
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Project Location: The property is legally described as Lots 1 & 2 of Block 1 and Lot
1 of Block 4 of the Amended Plat of Lot 1 and Lot 2 of Block 1 and Lot 1 of Block 4 of
West Winds Subdivision Ph. 4 and Lot 1 of Block 3 and Lot 1 of Block 4 of West
Winds Subdivision Ph. 5, NW4 of Sec. 2, T2S, R5E, P.M. and is addressed as 3270
Breeze Lane, and 1345 and 1553 Windward Avenue.
Description: The West Winds SW Subdivision is a new development that creates
72 residential lots consisting of townhomes and detached homes. This development
triggers the Affordable Housing Ordinance Article 38.380 of the Unified
Development Code (UDC). According to Section 38.380.030 Applicability of the, any
development producing 10 or more units of attached or detached single‐households
are required to build 10% of the dwelling units at lower‐priced or 30% at moderate
priced.
The applicant has submitted the required Affordable Housing Application for
approval by CAHAB. According to Section 38.380.060 Number of Affordable Homes
Required, the development is required to build and produce 10% of the 72 total lots.
This is a requirement of 7.2 units. The applicant has submitted plans to construct 6
lower‐priced homes and requested alternative means of compliance in the form of
cash‐in‐lieu payment, for the remaining 1.2 units.
The 6 units requested to be built are all 2 bedroom attached townhome style and
building plans are attached to the application materials. Construction on the units
will begin upon the receipt of final plat and will be completed in spring of 2018.
The 1.2 units of cash‐in‐lieu will be calculated based off the price schedule set for 3+
bedroom units which currently is $97,889 per 1 unit. The total cash‐in‐lieu payment
due at time of occupancy certification is ($97,889 x 1.2) = $117,467.00
The applicant is requesting incentives for the Affordable Housing Units based off of
Section 38.380.130 Incentives to include the following:
1. Down payment assistance of up to $10,000 per home‐buyer per dwelling unit
2. Impact fee reimbursement for each of the 6 units reimbursed upon
satisfactory sales price to meet the Affordable Housing Pricing Schedule
3. Reduction of Parkland
4. Expedited Permit Review – The applicant was informed that this will be done
to the best of the ability of the building department based off of current
review load
The applicant is working with HRDC and the City of Bozeman to develop a
marketing and outreach plan to recruit certified eligible buyers for the six homes.
The plan meets the overall requirements of the City of Bozeman’s Affordable
Housing Ordinance 38.380.
Fiscal Effects: The total fiscal effects for the project will be up to $60,000 in down
payment assistance and up to $50,000 in Impact Fee Reimbursement to be paid out
from the Workforce Housing Fund.
Recommendation: Recommend approval of the West Winds Subdivision
Affordable Housing Plan.
Alternatives: Recommend disapproval of the West Winds Subdivision Affordable
Housing Plan.
Attachments: West Winds Subdivision Affordable Housing Plan