HomeMy WebLinkAboutWillow Springs AH Plan CAHAB Memo 06-17-19
To: CAHAB
From: Loren Olsen
Re: Willow Springs Final Plan AH Plan 19229
Date: June 6, 2019
Project Location: At the corner of Sartain St. and Hoover Way in Bozeman, MT 59718.
Project Description: The development will consist of 24 townhomes, with a mix of 2 and
3 bedroom homes provided. All 24 units will be affordable to families and individuals
making 70% of the area median income. HRDC intends to place the subject property into
their Community Land Trust in order to maintain the affordability of the units in
perpetuity. To comply with the City of Bozeman Affordable Housing Ordinance HRDC will
further restrict three (2.4) of the units with a deed restriction to further ensure
affordability. HRDC has requested $20,000 per unit to act as a permanent subsidy that will
remain with the home in perpetuity and require no subsidies from the City in the future.
For more information see their Affordable Housing Plan.
Recommendation: Having reviewed the submitted materials, the Affordable Housing
Program Manager recommends approval of the Affordable Housing Plan.