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HomeMy WebLinkAboutTab 3AFFORDABLE HOUSING (N07"MMLNMFRF,1) BY THE HRLX') DARLINTON MANOR 6o6 North 5th, Bozeman MT 59715 (4o6) 587-2g81 senior & disabled studio & 1 bedroom/too units LEGION VILLA 1215 West Durston, Bozeman MT 59715 (4o6) 587-7612 senior & disabled - 1 & 2 bedroom/6o units BRIDGER PEAKS VILLAGE 1483 North 15th, Bozeman MT 59715 (406) 994-0100 senior-1 & 2 bedroom/6o units GALLATIN MANOR 18o6 West Beall, Bozeman MT 59715 .(4o6) 587-1.591 family - 2 & 3 bedroom/64 units GREENWOOD PLAZA 802 North Grand, Bozeman MT 59715 (4o6) 587-3921 family - 2, 3 & 4 bedroom/50 units MSU FAMILY DOUSING 1502 West Garfield, Bozeman MT 59715 (406) 994-3730 students & employees - 2 & 3 bedroom ALLIANCE PROPERTIES 2621 W College Suite •D Bozeman MT 59718 (4o6) 585-088o 1, 2 & 3 bedroom/267 units CASTLERAR APARTMENTS 12o 1 North 25m, Bozeman MT 59718 (4o6) 522-8T78 2 & 3 bedroom/40 units BIG SKY VILLA. 204 W Jefferson, Belgrade MT 59714 (406) 586-6500 11 2 & 3 bedroom/24 units GAIJ ATANA APARTMENTS 404 West Railroad, Manhattan MT 59741 (4o6) 284-4400 1 & 2 bedroom/16 units SOUTIILAKE APARTMENT:, 620 Firehole Avenue / P n Box io62 West Yellowstone MT 59758 (4o6) 646-9700 t & 2 bedroom/20 units SENIOR CITIZENS APARTMENTS 204 S Main, Livingston MT 59047 (4o6) 222-7195 senior - studio, t & 2 bedroom/27 units SHERWOOD INN 325 South Main, Livingston MT 59047 (4o6) 222-0158 senior & disabled - t & 2 bedroom/49 units LIVINGSTON VILLAGE 603 Robin Lane, Livingston MT,59047 (4o6) 222-4852 senior & disabled -- 1 bedroom/24 units VIEW VISTA VILLAGE 1 View Vista Village, Livingston MT 59047 (4o6) 222-6569 studio, 1 & 2 bedroom apartments/40 units TIMBERLINE APARTMENTS 1302 East Montana, Livingston MT 59047 (4o6) 222-9482 1, 2 & 3 bedroom/18 units PARK VIEW APARTMENTS P O Box 171, Gardiner MT 59030 (4o6) 848-7246 1 & 2 bedroom/16 units THE COTTONWOOD 2o9 Dinsmore, Clyde Park MT 59o86 (4o6) 686-4451 2 bedroom/10 units No Text Cft-J)IE.ve40r AFFORDABLE PROPERTIES OFFERED BY S RESOURCE PROPERTY MANAGEMENT x� ps a A DIVISION OF THE ? HUMAN RESOURCE DEVELOPMENT COUNCIL, 32 S. Tracy Ave. Bozeman, MT 59715 Aspen Meadows 1062 Oak Street Bozeman, M`C 59715 1, 2, & 3 Bedroom Units w/garages; patio On -site laundry; tot -lot; basketball court Dairykeep Apartments 606 North 4 Avenue Bozeman, MT 59715 2 & 3 Bedroom Units On -site laundry, courtyard play area Pond Row Apartments 102 - 122 Pond Row Bozeman, M`1' 59718 2 & 3 Bedroom Units Chi -site laundry; individual patios; utilities included Summer Wood Apartments 1441 N. 1.5`h Ave Bozeman, MT 59715 1 Bdrm Units; utilities included, • on -site laundry; Head of Household must be at least 62 years of age. West Babcock Apartments I - 8 North 24m Avenue Bozeman, MT 59718 2 & 3 Bdrm Units; washer/dryer hookups, storage units available. Colorado Apartments 700 - 704 Colorado Belgrade, MT 59714 1 Bdrm units; Head of Household must be Elderly or Disabled,- washer/dryer hookups & patio for each unit Timberline Apartments 1006 Cardinal Drive Belgrade, MT 59714 1 Bdrm units; Head of Household must be Elderly or Disabled Miles Building 107 South 2.a Street Livingston, MT 59047 Studio & 1 Bdrm Units; utilities included Elderly/Disabled/Homeless Summit Place Apartments 1102 - 1104 West Summit Livingston, MT 59047 1 Bdrm Units; utilities included, • on -site laundry; individual patios; persons with mental illness only. Eligibility varies by property, please call for specific information and to obtain an application. Resource Property Management (406) 582-1653 0 • • 0 • L I No Text Madison County `IThe following resources arc available to assist in the development of affordable housing. Many projects will require a combination of sources, for example, CDBG and HOME. (discussed below) are often used together to make a project more viable. Progra:tras with income limits are noted as well. An Area Median Income (AMI) chart for Madison County is included in Appendix D. Government .Programs CJ.S. Department of Housinp- and Urban Development QJUD) HIJD provides a number of programs to assist with the development and financing of affordable housing. The HUD 202 program assists with the development of affordable housing for elderly persons, while HUD 811 provides development assistance with projects for disabled persons. HUD, through intermediaries, administers the Section 8 Housing Choice Voucher Pro rasp, which provides rental assistance to low income households. HUD also provides funding for the CDBG and HOME programs detailed below. In addition to funds for affordable housing development, HUD provides grant • funding for housing counseling, training and capacity building through a number of programs. Communitv Development Block Grant (CDBG This program is funded by the U.S. Department of housing and Urban Development and administered by the Montana Department of Commerce's Community Development division. Funds can be used for land purchase, rehabilitation, infrastructure, new construction, and down -payment assistance. Funds must be used to assist households earning no more than 80% of the Area Median Income (AMI) (a current AMI chart is located in Appendix D). Grants are limited to $500,000 and are awarded on a competitive basis. Applications must be sponsored by a unit of local government and are typically due in the fall of each year. Use of CDBG funds will typically trigger all federal regulations and rules, such as Davis -Bacon, Fair housing, etc. "I'he CDBG program also administers Planning Grants which may be used fbr needs assessments, growth policies, housing plans, and pre -development costs incurred by a housing project. Also offered by CDBG are programs for economic development and public facilities. Address: Montana Department of Commerce Community Development Division P.O. Box 200523 Helena, MT 59620-0523 Phone: 406.841.2770 Fax: 4W841.2771 Madison Couniv '16 I fousinQ Needs Apse sment and Fick Year Plan 200f:,,f • r-I L-A 0 Web: www,cojndev.mt.gov/CDl) cdb2.1,Sp Contact: Gus Byron), Director C-IOME Investment Partnerships Program (IIOME) The I IOME program is funded by the U.S. Department of Housing and Urban Developn-Yent and administered by the Montana Department of Commerce's Housing division. funds can be used for land purchase, rehabilitation, infrastructure, new construction, short-term rental assistance, and clown -payment assistance. Funds must be used to assist households earning no more than 80% of the AM.I for homeownership programs and no more than 60% AMI for rental programs. With the exception of single- family rehabilitation and down -payment assistance programs, grants are limited to $500,000 and are awarded on a competitive basis. Single-family rehabilitation and down - payment assistance programs arc funded through HOME's pilot program on an ongoing basis. Applications must be sponsored by a unit of local goverrunent or a Community Housing Development Organization (CHDO) such as the Butte HRDC, and are typically due in the spring of each year. Use of HOME fiords will typically trigger all federal regulations and rules, such as Davis -Bacon, Fair Housing, etc. Address: Montana Department of Commerce HOME Prograrn P.O. Box 200545 Helena, MT 59620-0545 Phone: 406-841.2820 Fax: 406.841.2821 Web: www.housiii ,,.nit.gov/Hous HM.aT Contact: Ethan Stapp, Director _Montana Board of Ilousin MB0II) MBOII is a state housing finance agency. Through the sale of housing bonds, MBOH funds a variety of affordable housing programs for both homeownership and rentals. MBOI-I has numerous programs; the most commonly used are listed below. foomeownership: MBOH provides homeownership opportunities through reduced rate mortgages in their regular bond program. This program is coordinated with local lenders and typically serves households earning up to 120% AMI. Households earning less than 80% AMI may be eligible for lower interest rates through mortgage set -aside program ams offered tfu-ough non-profit organizations. MBOH also provides a Mortgage Credit Certificate MCC for households that qualify for MBOH loans but �Leier financing method; the MCC provides participating households with a tax credit. A list oflenders and non -profits partnering with the Board of I lousing is listed on their website. Rental: MBOH administers the Low Income Housing Tax Credit progam. LIHTC . LIHTC is a program funded by the Internal Revenue Service and is used to construct or rehabilitate affordable rental housing. Units constructed using the program are rent- %talitioil 110usint? N c^ck Asscxsmeni and F ivc Year flan 2006 -I r L J L..J • restricted for a period of time (usually 40 years). LIHTC' is it popular method of developing affordable rentals for both the private and public sector. Because the program can be complicated, it is recommended that any developer considering a tax credit project for the first time hire a consultant with expertise in the discipline. MBOH also has it Risk_ Sharjn ,1'rograln to Supply permanent financing for 117u1t1-family housing. The Risk Sharing program is administered by MBOH and consists of finding from both MBOH and iILU Address: Montana Department of C"omn-iercc Housing Division, Board of Housing P.O. Box 200528 Helena, MT 59620-0528 Phone: 406.841.2840 Fax: 406.841.2841 Web: www.housing.nit.gov/llous 13O11.a_T Contact: Bruce Brensdal, Director Nancy Leifer, Homeownership Programs Matt Rude, Multifamily Programs Rural Development RD RD has a number of programs for homeownership, rentals and home repair. RD is funded through the U.S. Department of Agriculture. Homeownership: RD's leveraged and direct loan programs provide subsidized interest rates for all or a portion of a homebuyer's mortgage. With rates as low as I % for households earning very low incomes, the program is ideal for very -low income elderly and families. The direct and leveraged loan program is available to households earning less than 80% AM]. RD's Guaranteed Loan program assists households earning up to 1 15% AMl by providing the first -mortgage lender with a 90% guarantee on the mortgage. RD also administers a Homeownership Self-] lelp program. In the Self Help program, 8-12 households work together, under the supervision of a non-profit, to build their own homes. This saves it significant amount of money; owed amounts remaining are placed into a low -interest mortgage provided through the direct loan program. Self-help is a unique way to provide homeownership opportunity to low-income households.The program requires a dedicated, experienced non-profit and tune to be successful. RD also provides rehabilitation and renair,loans to low to moderate income households and small home rair grants to low-income elderly. Rental: RD provides anent financing of affordable multifamily r�projects with rates as low as 1 % and terms as long as 50 years. Low -interest mortgage loans may be provided in combination with Rental Assistance Programs which may be attached to all or a portion of the units. Units that receive Rental assistance will allow the occupant to • pay no more than 30% of their income toward their rent and utility cost while subsidizing any remaining charges. Rental assistance is available to households earning less than Madison t.:�n�a�t:y I S Housing mid Five Yee lr Hall 0OO • • r-j L J 50% AMI. Applications for RD rental programs are competitive and typically due in the Spring. Address: USDA Rural Development P.O. Box 850 l3ozcman, M`C 59771 Phone: 406.58.5.2 515 Web: _www.nii-dev.trsda. ov/mt/RHS/rliso/,20tront%20paLe..htni. Contact: Deborah C"horlton, Program Director Federal Home Loan Bank FHLB The FI1LB is a government sponsored entity (GSE). The 1'111-13 serving this area is located in Seattle. Ff ILB can provide assistance with financing of affordable housing projects through their Affordablc Housing Program (Al I.P), provide support to local entities through the Community investment Program (C'IP) and provide closing cost assistance to individuals through the !Iomc$tart Program. Address: Federal Home Loan Bank of Seattle 1.501 4th Avenue Suite 1800 Seattle, WA 98101 �- Phone: 1.800.973.6223 Fax: 206.340.8721 Web: www.thlb.sea.com/thlbsei/itidex,cfin Weatherization assistance The Human Resources Council (HRC) of Butte administers the Department of F..nergy Weatherization program. `Phis program can be used to improve the energy efficiency of a home occupied by low income households. Address: Human Resources Council P.O. Box 3486 Butte, .MT 59702 Phone: 406.496.497.5 Web: www.hrc12.orQ Contact: Elissa Mitchell, Director Local non -profits .. Human Resources Council of District XII HRC I2 ..- HRC provides assistance to low and moderate income persons in Housing, Energy assistance/Weatherization, youth programs, and other necessary services. HRC administers the Section 8 (affordable rentals) program, provides weatherization of homes, develops affordable housing, and assists persons looking for affordable housing. '1"he %ladisott ('ourtty flousmg Nceds AsseN�rnej'it and Five Ycar Platt U{)6 49 E fousine Deeds 1ssc-%S rant and 1, iv e Year 111mi 2006 50 No Text . and bath units. The employees, who may also be the owners, provide meals and activities in the centralized portions of the home and resident laundry and housekeeping services as needed. }-tome health care is provided by the organization licensed to provide skilled and unskilled nursing services for that area of the state. Upon licensing, a home based center inay receive Medicaid and Medicare payments to offset the care cost. This type of arrangement keeps seniors in their hometown, allows for senior citizens socialization and affordable personal care, and provides employment for persons connected with the center. • Private Foundations. Community Foundations and Local fundraisinp- Local, state and national foundations are oflen interested in assisting with affordable housing projects. Many banks provide community assistance, either through the bank or a foundation, to meet Community Reinvestment Act (CRA) criteria. Large businesses, employers and private citizens are all potential resources for affordable housing. ,ldditional resources The Housing Plan and strategies refer to a nunnber of methods to promote affordable housing or secure fiends for affordable housing programs and/or development. These include use of local option/resort taxes, impact fees, linkage fees, zoning, and inclusionary zoning. Madison County 51 Hoostrig Deeds Assessment and Five Year Plan 2000 • • [J