HomeMy WebLinkAboutAppendix Q Notice of Restricted use of Lot A - draft
NOTICE OF RESTRICTED USE OF LOT A
Pursuant to the Conditions of Approval for the Cottonwood and Ida Planned Unit
Development Application recorded ____________________, 2019 in the records in the office of
the Clerk and Recorder, Gallatin County, Montana under Document #_______________,
BANGTAIL PARTNERS, LLC (the AProperty Owner@) hereby gives the following notice:
Lot Affected: INSERT LEGAL FOR LOT A
Restriction: Lot A is subject to a restriction requiring that at least 7 rental housing units
be provided as “Affordable Housing”. Affordable Housing, for the purpose of this
restriction, is defined as housing for persons earning less than 60 percent of the area's
annual median income for rental housing. Further, affordable housing does not require
greater than 33 percent of the household gross annual median income for housing.
Annual median income is defined by the Department of Housing and Urban
Development. This restriction shall remain in place and enforceable for 20 years from
the date of the filing of this Notice with the Gallatin County Clerk and Recorder. This
Restriction is part of a long-term contract with the Human Resource Development
Council (HRDC) regarding the same. This restriction may not be removed prior to its
natural expiration without the prior written consent of the Bozeman City Commission
and HRDC.
Dated this _____day of ________________, 2019.
PROPERTY OWNER:
Bangtail Partners, LLC
By:_____________________________
Its: _____________________________
STATE OF_______________)
:ss
County of ________________)
On this ______ day of __________________, 20___, before me, a Notary Public in and for
the State of ____________________, personally appeared ____________________, known to me to
be a Member of Bangtail Partners, LLC and the person whose name is subscribed to the within
instrument and acknowledged to me that he executed the same pursuant to the authority granted in
him.
IN WITNESS WHEREOF, I have hereunto set my hand and seal the day and year first above
written.
____________________________________
____________________________________
Notary Public for the State of____________
Residing at: ________________________
My Commission Expires:_______________