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HomeMy WebLinkAbout20- HRDC and GDM for Arrowleaf and Perennial Park FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 1 GRANT AGREEMENT Arrowleaf Park and Perennial Park THIS AGREEMENT is made and entered into this ____ day of __________, 20__ by and between the City of Bozeman, Montana, a self-governing municipal corporation located at 121 N. Rouse Ave., Bozeman MT 59771 (“City”) as GRANTOR and GMD Development LLC, a for profit limited liability corporation located at 520 Pike Street, Suite 1010, Seattle, Washington 98101 and Human Resource Development Council of District IX, Inc., a Montana nonprofit corporation located at 32 South Tracy Avenue, Bozeman, Montana 59715 as GRANTEES. WHEREAS, on October 17, 2005 the Bozeman City Commission adopted Resolution No. 3866 establishing policies for the granting of funds from the City of Bozeman to a requesting entity; and WHEREAS, GRANTEES submitted a proposal to the City Commission for a grant of $500,000 for general construction costs of the Arrowleaf Park and Perennial Park affordable housing development (the “Project”) that would benefit from the City funding; and WHEREAS, on August 12, 2020 the Community Affordable Housing Advisory Board (CAHAB) reviewed the grant request and recommended the City Commission approve the Grant; and WHEREAS, on August 25, 2020 the City Commission approved GRANTEES’ Preliminary Planned Unit Development (PUD) application number 20153; and WHEREAS, on October 6, 2020, the Commission appropriated $500,000 for the Project. THE PARTIES AGREE: 1. The Grant. The City will grant and release to GRANTEES a sum of up to five hundred thousand dollars ($500,000) from its Community Housing Fund (the “Grant”) pursuant to the payment terms in Section 4. 2. Use of Grant Funds. Grant funds in the amount of up to five hundred thousand dollars ($500,000) will be used by GRANTEES for the sole purpose of offsetting City building permit and impact fees. Any remaining funds may be used to pay for a portion of City approved construction expenses of the Project, which will provide 96 affordable apartment rentals for senior citizens and 136 affordable rentals for families, with half of the units in each project available for renters at less than fifty percent of area median income and the other half of the units available for renters b etween sixty and seventy percent of median income, as described in the proposal submitted by GRANTEES to the DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 10/7/2020 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 2 City Commission, attached hereto as Exhibit A and by this reference incorporated herein. 3. Term. The term of this Agreement will commence on the Effective Date and expire three (3) years after the Effective Date unless earlier terminated as provided herein. 4. Payment of Grant Funds a. Payment of Grant funds is contingent on the City Commission’s final approval of GRANTEES’ PUD, and GRANTEES’ compliance with the approved final PUD. b. GRANTEES may request the Grant funds upon receiving invoice(s) from the City for building permit and impact fees for the Project. If Grant funds remain after all impact and building permit fees have been paid before the end of the term, GRANTEES may request reimbursement of City approved construction expenses paid by GRANTEES. A request for Grant funds must be submitted in writing with a City generated invoice showing impact and permit fees, and/or proof of construction expenses paid. Acceptable forms of proof of payment shall be as determined in the sole discretion of the City’s Director of Finance. c. Any funds from the Grant not requested during the fiscal year ending June 30, 2023will remain in the City’s Community Housing Fund and will be available for other appropriation. d. The City will have no obligation to pay any Grant funds unless at the time of the reimbursement request (i) all of GRANTEES’ representations as set forth in Section 5 are true and correct, and (ii) neither GRANTEE is in breach of any term of this Agreement. If any of the above conditions are not satisfied in the determination of the City, the City shall have no obligation to pay any Grant funds and the City’s determination to refrain from paying, or its inability to pay, any Grant funds shall not be or result in a default of this Agreement. 5. Grantees’ Representations a. GRANTEES have familiarized themselves with the nature and extent of this Agreement and with all local conditions and federal, state and local laws, ordinances, rules, and regulations that in any manner may affect GRANTEES’ performance under this Agreement. b. GRANTEES represent and warrant to City that they have the experience and ability to perform its obligations under this Agreement; that they will perform said obligations in a professional, competent and timely manner and with DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 3 diligence and skill; that they have the power to enter into and perform this Agreement and grant the rights granted in it; and that its performance of this Agreement shall not infringe upon or violate the rights of any third party, whether rights of copyright, trademark, privacy, publicity, libel, slander or any other rights of any nature whatsoever, or violate any federal, state and municipal laws. The City will not determine or exercise control as to general procedures or formats necessary for GRANTEES to meet this warranty. c. GRANTEEs represent and warrant to City that the Grant funds are necessary to accomplish the financial requirements of the Project. 6. Reports/Accountability/Public Information. If Grant funds are paid to GRANTEES, GRANTEES will provide to the City a formal written report that includes, at a minimum, the proof of expenses paid. GRANTEES agree to develop and/or provide such other documentation as requested by the City demonstrating GRANTEES’ compliance with the requirements of this Agreement. GRANTEES must allow the City, its auditors, and other persons authorized by the City to inspect and copy its books and records for the purpose of verifying that monies provided to GRANTEES pursuant to this Agreement were used in compliance with this Agreement and all applicable provisions of federal, state, and local law. GRANTEES will retain such records for seven years after receipt of final payment under this Agreement unless permission to destroy them is granted by the City. GRANTEES shall not issue any statements, releases or information for public dissemination without prior approval of the City. 7. Independent Contractor Status. The parties agree that GRANTEES, their agents, employees, contractors, or subcontractors, are independent contractors for purposes of this Agreement and are not to be considered employees or agents of the City for any purpose. GRANTEES and their agents, employees, contractors, or subcontractors, are not subject to the terms and provisions of the City’s personnel policies handbook and may not be considered a City employee for workers’ compensation or any other purpose. GRANTEES, their agents, employees, contractors, or subcontractors, are not authorized to represent the City or otherwise bind the City in any way. 8. Default and Termination. If GRANTEES fail to comply with any condition of this Agreement at the time or in the manner provided for, the City may terminate this Agreement if the default is not cured within fifteen (15) days after written notice is provided to GRANTEES. The notice will set forth the items to be cured. If this Agreement is terminated pursuant to this Section, GRANTEES will repay to the City any Grant funds already delivered to GRANTEES for the Project. DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 4 9. Limitation on GRANTEES’ Damages; Time for Asserting Claim a. In the event of a claim for damages by GRANTEES under this Agreement, GRANTEES’ damages shall be limited to contract damages and GRANTEES hereby expressly waives any right to claim or recover consequential, special, punitive, lost business opportunity, lost productivity, field office overhead, general conditions costs, or lost profits damages of any nature or kind. b. In the event GRANTEES want to assert a claim for damages of any kind or nature, GRANTEES must first provide City with written notice of its claim, the facts and circumstances surrounding and giving rise to the claim, and the total amount of damages sought by the claim, within ninety (90) days of the facts and circumstances giving rise to the claim. In the event GRANTEES fail to provide such notice, GRANTEES shall waive all rights to assert such claim. 10. Representatives a. City’s Representative. The City’s Representative for the purpose of this Agreement shall be the City of Bozeman Finance Director or such other individual as City shall designate in writing. Whenever approval or authorization from or communication or submission to City is required by this Agreement, such communication or submission shall be directed to the City’s Representative and approvals or authorizations shall be issued only by such Representative; provided, however, that in exigent circumstances when City’s Representative is not available, GRANTEES may direct its communication or submission to other designated City personnel or agents and may receive approvals or authorization from such persons. b. GRANTEES’ Representative. GRANTEES’ Representative for the purpose of this Agreement shall be Steve Dymoke of GMD Development, LLC and the Executive Director of the Human Resources Development Council of District IX, Inc. or such other individual as GRANTEES shall designate in writing. Whenever direction to or communication with GRANTEES is required by this Agreement, such direction or communication shall be directed to GRANTEES’ Representative; provided, however, that in exigent circumstances when GRANTEES’ Representative is not available, City may direct its direction or communication to other designated GRANTEE personnel or agents. 11. Permits and Compliance With Laws. GRANTEES will obtain, in a timely manner, all required permits, licenses and approvals, and will meet all requirements of all local, DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 5 state and federal laws, rules and regulations which must be obtained or met in connection with construction of the Project. 12. Indemnity/Waiver of Claims/Insurance. To the fullest extent permitted by law, GRANTEES agrees to defend, indemnify and hold the City and its agents, representatives, employees, and officers (collectively referred to for purposes of this Section as the City) harmless against all third party claims, demands, suits, damages, losses, and expenses, including reasonable defense attorney fees, which arise out of, relate to or result from GRANTEES’ (i) negligence, or (ii) willful or reckless misconduct. Such obligations shall not be construed to negate, abridge, or reduce other rights or obligations of indemnity that would otherwise exist. The indemnification obligations of this Section must not be construed to negate, abridge, or reduce any common -law or statutory rights of the indemnitee(s) which would otherwise exist as to such indemnitee(s). GRANTEES’ indemnification obligations under this Section shall be without regard to and without any right to contribution from any insurance maintained by City. Should any indemnitee described herein be required to bring an action against GRANTEES to assert its right to defense or indemnification under this Agreement or under GRANTEES’ applicable insurance policies required below the indemnitee shall be entitled to recover reasonable costs and attorney fees incurred in asserting its right to indemnification or defense but only if a court of competent ju risdiction determines GRANTEES was obligated to defend the claim(s) or was obligated to indemnify the indemnitee for a claim(s) or any portion(s) thereof. In the event of an action filed against City resulting from the City’s performance under this Agreement, the City may elect to represent itself and incur all costs and expenses of suit. GRANTEES also waive any and all claims and recourse against the City or its officers, agents or employees, including the right of contribution for loss or damage to person or property arising from, growing out of, or in any way connected with or incident to the performance of this Agreement except “responsibility for his own fraud, for willful injury to the person or property of another, or for violation of law, whether willful or negligent” as per 28-2-702, MCA. These obligations shall survive termination of this Agreement. DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 6 In addition to and independent from the above, GRANTEES shall at GRANTEES’ expense secure insurance coverage through an insurance company or companies duly licensed and authorized to conduct insurance business in Montana which insures the liabilities and obligations specifically assumed by GRANTEES in this Section. The insurance coverage shall not contain any exclusion for liabilities specifically assumed by GRANTEES in this Section unless and to the extent coverage for such liability is not reasonably available. The insurance shall cover and apply to all claims, demands, suits, damages, losses, and expenses that may be asserted or claimed against, recovered from, or suffered by the City without limit and without regard to the cause therefore and which is acceptable to the City and GRANTEES shall furnish to the City an accompanying certificate of insurance and accompanying endorsements in amounts not less than as follows:  Workers’ Compensation – statutory;  Employers’ Liability - $1,000,000 per occurrence; $2,000,000 annual aggregate;  Commercial General Liability - $1,000,000 per occurrence; $2,000,000 annual aggregate The City of Bozeman, its officers, agents, and employees, shall be endorsed as an additional or named insured on a primary non-contributory basis on the Commercial General Liability policy. The insurance and required endorsements must be in a form suitable to City and shall include no less than a thirty (30) day notice of cancellation or non-renewal. The City must approve all insurance coverage and endorsements prior to delivery of Grant funds to GRANTEES. GRANTEES shall notify City within two (2) business days of GRANTEES’ receipt of notice that any required insurance coverage will be terminated or GRANTEES’ decision to terminate any required insurance coverage for any reason. 13. Nondiscrimination and Equal Pay. GRANTEES agree that all hiring by Grantees of persons performing this Grant Agreement shall be on the basis of merit and qualifications. GRANTEES will have a policy to provide equal employment opportunity in accordance with all applicable state and federal anti-discrimination laws, regulations, and contracts. GRANTEES will not refuse employment to a person, bar a person from employment, or discriminate against a person in compensation or in a term, condition, or privilege of employment because of race, color, religion, creed, political ideas, sex, age, marital status, national origin, actual or perceived sexual orientation, gender DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 7 identity, physical or mental disability, except when the reasonable demands of the position require an age, physical or mental disability, marital status or sex distinction. GRANTEES represent it is, and for the term of this Agreement will be, in compliance with the requirements of the Equal Pay Act of 1963 and Section 39-3-104, MCA (the Montana Equal Pay Act). GRANTEES must report to the City any violations of the Montana Equal Pay Act that Contractor has been found guilty of within 60 days of such finding for violations occurring during the term of this Agreement. GRANTEES shall require these nondiscrimination terms of its subcontractors providing services under this Grant Agreement. 14. Public Meetings and Access to Public Records a. Meetings of GRANTEES that pertain to the receipt or expenditure of Grant funds from the City are subject to the open meeting requirements of Montana law, including those set forth in Title 7, Chapter 1, Part 41, MCA and Title 2, Chapter 3, MCA. To ensure compliance, GRANTEES will provide agendas for meetings that pertain to the receipt or expenditure of Grant funds covered by this Agreement to the City Clerk’s office no later than 72 working hours prior to meeting for notice on the City’s official posting board and any other sites deemed reasonable by the Clerk’s office. In addition, meeting minutes will be kept by GRANTEES and provided to the City Clerk’s office no later than 90 days after the meeting. These minutes shall be posted and made available to the public by the City Clerk’s office except for those minutes taken during a closed meeting in accordance with 2-3-203, MCA. Minutes taken during a closed meeting shall also be provided to the City Clerk’s office but shall be handled in accordance with the City Clerk’s regular executive session protocol and kept private in a secured cabinet. b. In accordance with 7-1-4144, MCA and subject to any applicable legal obligation to protect and preserve individual confidential or private information, upon reasonable request and at reasonable times during normal business hours, GRANTEES shall make such records available for inspection and copying by members of the public. GRANTEES may charge for such copying in accordance with the policies of the City, which GRANTEES hereby adopt for such purposes. c. To determine whether a meeting or part of a meeting may be closed to the public and to determine whether information contained in GRANTEES’ documents is protected by law from disclosure, GRANTEES may seek a determination of the City Attorney at no cost to GRANTEES. Such request and determination shall not create an attorney-client relationship between GRANTEES and the City. DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 8 15. Attorney’s Fees and Costs. In the event it becomes necessary for a party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement or to give any notice required herein, then the prevailing party shall be entitled to reasonable attorney’s fees and costs, including fees, salary, and costs of in - house counsel to include City Attorney. 16. Integration and Modification. This document contains the entire agreement between the parties and no statements, promises or inducements made by either party or agents of either party not contained in this written Agreement may be considered valid or binding. This Agreement may not be modified except by written agreement signed by both parties. 17. Dispute Resolution a. Any claim, controversy, or dispute between the parties, their agents, employees, or representatives shall be resolved first by negotiation between senior -level personnel from each party duly authorized to execute settlement agreements. Upon mutual agreement of the parties, the parties may invite an independent, disinterested mediator to assist in the negotiated settlement discussions. b. If the parties are unable to resolve the dispute within thirty (30) days from the date the dispute was first raised, then such dispute may only be resolved in a court of competent jurisdiction in compliance with the Applicable Law provisions of this Agreement. 18. No Assignment. GRANTEES may not subcontract or assign GRANTEES’ rights, including the right to Grant payments, or any other rights or duties arising hereunder, without the prior written consent of City. 19. No Third Party Beneficiary. The terms and provisions of this Agreement are intended solely for the benefit of each party and their respective successors and assigns. It is not the parties’ intent to confer third party beneficiary rights upon any other person or entity. 20. Choice of Law. This Agreement shall be governed and construed in accordance with the laws of the State of Montana without regard to conflict of law provisions. The Parties agree to submit to the personal and exclusive jurisdiction of the courts located within Gallatin County, Montana. DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Page 9 21. Non-Waiver. A waiver by either party of any default or breach by the other party of any terms or conditions of this Agreement does not limit the other party’s right to enforce such term or conditions or to pursue any available legal or equitable rights in the event of any subsequent default or breach. 22. Severability. If any portion of this Agreement is held to be void or unenforceable, the balance of the Agreement shall continue in effect. 23. Counterparts. This Agreement may be executed in counterparts, which together constitute one instrument. IN WITNESS WHEREOF, the parties hereto have executed this instrument the day and year indicated below. _______________________ Date: __________ Jeff Mihelich, City Manager City of Bozeman _______________________ Date: __________ Greg Dunfield, President/Owner GRANTEE GMD Development, LLC _______________________ Date: __________ Heather Grenier, CEO GRANTEE HRDC Approved as to form: _______________________ Date: __________ Greg Sullivan, City Attorney City of Bozeman DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3 9/24/2020 9/24/2020 DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 10/7/2020 10/7/2020 FY 2021 Grant Agreement – Arrowleaf Park and Perennial Park Exhibit A Exhibit A Grant Proposal DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4        $XJXVW   5H 3HUHQQLDO3DUN$UURZOHDI3DUN%R]HPDQ07±UHTXHVWIRUUHQHZHGSURMHFWIXQGLQJ   'HDU&$+$%%RDUG0HPEHUV  7KHSDVWPRQWKVKDYHEHHQDQDPD]LQJDQGSURGXFWLYHMRXUQH\$IHZWLPHOLQHKLJKOLJKWV  ,Q1RYHPEHU*0''HYHORSPHQWVLJQHGDOHWWHURILQWHQWWRSXUFKDVHWKHODQGRQ7FKDFKH ZLWKWKHYLVLRQRISURYLGLQJPXFKQHHGHGDIIRUGDEOHKRXVLQJLQWKH%R]HPDQFRPPXQLW\,Q WKHVSULQJRIZHMRLQHGIRUFHVZLWK+5'&DVRXUFRGHYHORSPHQWSDUWQHUDQGEHJDQRXU GXHGLOLJHQFHDQGHDUO\VLWHSODQGHVLJQDVWKHSURMHFWVORZO\EHJDQWRWDNHVKDSH  $VWKHVLWHLV]RQHG%DQGUHTXLUHGDFRPPHUFLDOFRPSRQHQWWRWKLVPL[HGXVH]RQLQJZH EHJDQWRVHHNRUJDQL]DWLRQVWKDWPLJKWEHLQWHUHVWHGLQMRLQLQJXVLQWKLVGHYHORSPHQWDQGZHUH EH\RQGOXFN\WRILQGQRWRQHEXWRXWVWDQGLQJORFDOQRQSURILWJURXSVWKDWZHUHLQWKHSURFHVV RIORRNLQJIRUVLWHVWKHPVHOYHVWREXLOGWKHLURZQEXLOGLQJV,QWKHVSULQJRIZHVLJQHG PHPRUDQGXPVRIXQGHUVWDQGLQJZLWK&RPPXQLW\+HDOWK3DUWQHUVDQG)DPLO\3URPLVH%RWK RXWVWDQGLQJJURXSVZLWKPLVVLRQVWKDWILWSHUIHFWO\ZLWKRXUSODQQHGIDPLO\DQGVHQLRUDIIRUGDEOH KRXVLQJ  x&RPPXQLW\+HDOWK3DUWQHUVZLOOOHDVHIRU\HDUDVIKHDOWKFOLQLFSURYLGLQJ PHGLFDOGHQWDOSKDUPDF\DQGEHKDYLRUDOKHDOWKVHUYLFHVWRORZHULQFRPHUHVLGHQWV x)DPLO\3URPLVHZLOOOHDVHIRU\HDUDQVIHDUO\FKLOGKRRGOHDUQLQJFHQWHUDQG ZLOOEHFROODERUDWLQJZLWKWKH068¶VGHSDUWPHQWRIKHDOWKDQGKXPDQGHYHORSPHQW  $OVRLQWKHVSULQJRI SUH&29,' ,DSSHDUHGEHIRUHWKH&$+$%JURXSDQGSUHVHQWHGWKLV VWLOOYHU\FRQFHSWXDOSURMHFWDQGZHUHYHU\JUDWLILHGE\WKHVXSSRUWDQGDFNQRZOHGJHPHQWRIRXU YLVLRQDQGZHUHYHU\H[FLWHGDERXW&$+$%¶VIXQGLQJUHFRPPHQGDWLRQRIRQ0DUFK  DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4  ,QWKHDIIRUGDEOHKRXVLQJZRUOGDVLJQLILFDQWILQDQFLDOFRPPLWPHQWE\WKHORFDOJRYHUQPHQW VSHDNVYROXPHVRIWKHQHHGDQGFRPPLWPHQWE\WKHFLW\WRVWDQGEHKLQGWKHLUVWDWHGJRDOVRI DGGLQJDIIRUGDEOHKRXVLQJLQWKHLUFRPPXQLW\7RRXUWD[FUHGLWLQYHVWRUVDQGOHQGHUVWKLV PDNHVDKXJHLPSDFWLQWKHLUYLHZRIWKHSURMHFWDQGXQGHUZULWLQJ  )URPWKHVSULQJRIWRWRGD\ZHKDYHPDGHJUHDWSURJUHVV±VRPHXSGDWHV x:HKDYHILUPIXQGLQJFRPPLWPHQWVIURPDOHQGHUDQGWD[FUHGLWLQYHVWRU x7KHSUHOLPLQDU\38'KDVEHHQVXEPLWWHGDQGZLOOEHSUHVHQWHGWRFRXQFLORQ$XJXVW WK x:HZLOOEHFORVLQJRQWKHODQGSXUFKDVHRQ$XJXVWWK x0RVWRIWKHEXLOGLQJSODQVKDYHEHHQVXEPLWWHGIRUSHUPLWUHYLHZ x2XUWD[H[HPSWERQGDSSOLFDWLRQZDVVXEPLWWHGWKLVZHHNWR0%2+ x:HDUHSODQQLQJWREUHDNJURXQGDQGEHJLQVLWHZRUNLQ6HSWHPEHU x,QDGGLWLRQWRWKH&RPPXQLW\+HDOWK3DUWQHUVIDFLOLW\DQG)DPLO\3URPLVH¶VHDUO\ FKLOGKRRGOHDUQLQJFHQWHUWKHSURMHFWZLOOSURYLGHDIIRUGDEOHKRPHVIRUVHQLRUVDQG DIIRUGDEOHKRPHVIRUIDPLOLHV x:LWK$0,WDUJHWVUDQJLQJIURPDODUJHVHJPHQWRI%R]HPDQ¶VUHQWHUVZLOOEH DEOHWRTXDOLI\ x$PDUNHWVWXG\MXVWFRPSOHWHGIRXQG%R]HPDQ¶VPXOWLIDPLO\YDFDQF\WREHDQG DQLPPHGLDWHKRXVLQJQHHGRIRYHUXQLWV  :HDSSUHFLDWHWKHVXSSRUWRI&$+$%DQGWKH%R]HPDQ&RXQFLODQGUHVSHFWIXOO\UHTXHVWWKH PRWLRQWRUHQHZWKHIXQGLQJUHFRPPHQGDWLRQRIPDGHLQ0DUFK  ,I\RXKDYHDQ\TXHVWLRQVSOHDVHGRQRWKHVLWDWHWRFRQWDFW6WHYHDWRU 6WHYH#JPGGHYHORSPHQWFRPRU+HDWKHU*UHQLHUDW  KJUHQLHU#WKHKUGFRUJ   7KDQN\RX   6WHYH'\PRNH+HDWKHU*UHQLHU *0''HYHORSPHQW//&+5'& DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 Bo z e m a n A f f o r d a b l e H o u s i n g O p p o r t u n i t y Ts c h a c h e L a n e - B o z e m a n , M T Co m m u n i t y A f f o r d a b l e H o u s i n g A d v i s o r y B o a r d – F u n d i n g R e q u e s t Gr e g D u n f i e l d & S t e v e D y m o k e 52 0 P i k e S t r e e t Se a t t l e , W A 9 8 1 0 1 20 6 - 7 4 5 - 6 4 6 4 St e v e @ g m d d e v e l o p m e n t . c o m DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 OP P O R T U N I T Y 15 . 7 5 a c r e s i t e c o u l d s u p p o r t 2 4 0 - 2 8 0 u n i t s o f af f o r d a b l e r e n t a l h o u s i n g , p l u s s i g n i f i c a n t co m m u n i t y c o m m e r c i a l s p a c e a n d a m e n i t i e s . • Ab o u t 1 0 0 u n i t s o f S e n i o r I n d e p e n d e n t L i v i n g h o u s i n g • On e 3 - s t o r y e l e v a t o r b u i l d i n g , p l u s 5 u n i t , t w o - st o r y w a l k u p c o t t a g e s • Ab o u t 1 5 0 u n i t s o f F a m i l y H o u s i n g • 12 / 2 0 / 2 4 3 - s t o r y w a l k u p g a r d e n b u i l d i n g s , p l u s 3B D t o w n h o m e u n i t s Ro c k c r e s s C o m m o n s DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 Th e p r o p o s e d d e v e l o p m e n t s i t e i s 1 5 a c r e s o f l a n d , 12 o f w h i c h a r e de v e l o p a b l e . H u g g i n g t h e n o r t h a n d e a s t s i d e s o f t h e l o t a r e w e t l a n d s , a s m a l l p o n d , s t r e a m , a n d a b i k i n g / w a l k i n g t r a i l . T o th e s o u t h a n d we s t a r e t h e B o z e m a n L o w e s , a n d T s c h a c h e L a n e , w h i c h t er m i n a t e s at t h e a f o r e m e n t i o n e d w e t l a n d s . T h e l o t s e a s t o f t h e p r o p e r t y h a v e be e n a p p r o v e d t o b e d e v e l o p e d i n t o c o m m e r c i a l a n d o ff i c e s p a c e , ex p a n d i n g t h e 1 9 t h A v e r e t a i l d i s t r i c t . Gr e e n S p a c e a n d W e t l a n d s Bu i l d a b l e A r e a Cu r r e n t t r a i l s y s t e m s Ap p r o v e d A d j a c e n t D e v e l o p m e n t s NE V i e w Ea s t V i e w So u t h V i e w CO N D I T I O N S DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 Al o n g t h e m a i n a c c e s s r o a d , T s c h a c h e L a n e , t h e p r o p o se d de v e l o p m e n t w o u l d p r o v i d e c o m m e r c i a l s p a c e f r o n t a g e . T h e i n t e n t of t h i s s p a c e w o u l d b e t o p r o v i d e s u p p o r t i v e s e r v i c e s u c h a s c h i l d ca r e , s e n i o r a c t i v i t y / s u p p o r t , o u t w a r d b o u n d , Y M C A , b o y s a n d g i r l s cl u b , B o z e m a n P a r k s a n d R e c r e a t i o n , e t c . t o t h e r e s id e n t s o f t h e ap a r t m e n t c o m m u n i t y a n d o f g r e a t e r B o z e m a n . Al l r e s i d e n t i a l u n i t s w o u l d s i t b e h i n d t h e m a i n c o m me r c i a l s p a c e fr o n t i n g T s c h a c h e L a n e . T h e p r o p o s e d r e s i d e n t i a l d e v el o p m e n t wo u l d b e c o m p a r a b l e t o L a r k s p u r C o m m o n s , a p r o p e r t y i n Bo z e m a n c o m p l e t e d i n 2 0 1 7 ; I n v o k i n g s i m i l a r m a t e r i a l a n d f e e l o f th a t p r o j e c t . Co n c e p t u a l S i t e P l a n CO N C E P T U A L D E S I G N La r k s p u r C o m m o n s DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 Gi v e n t h e c l o s e p r o x i m i t y o f g o o d s a n d s e r v i c e s , a n d t h e n a t u r a l fe a t u r e s t h a t a b u t t h e s i t e , t h i s l o c a t i o n w o u l d b e i d e a l f o r a mi x o f s e n i o r a n d m u l t i f a m i l y a p a r t m e n t h o u s i n g . T h e wa l k a b i l i t y o f t h i s l o c a t i o n w o u l d r e d u c e t h e n u m b e r o f c a r t r i p s fo r g r o c e r i e s , s h o p p i n g , a n d t o w o r k f o r p a r e n t s e m pl o y e d i n th i s r e t a i l d i s t r i c t . O t h e r p o s s i b l e i m p r o v e m e n t s a nd a m e n i t i e s in a d d i t i o n t o t h e h o u s i n g c o u l d i n c l u d e : LI V A B I L I T Y • Gr e e n a n d o p e n sp a c e • Co m m u n i t y pl a y g r o u n d • Co m m u n i t y g a r d e n • Bi k e p a r k i n g a n d st o r a g e • We t l a n d s t r a i l s a n d t r a i l ac c e s s • On s i t e a c t i v i t y r o o m f o r re s i d e n t s • Im p r o v e d w a l k i n g p a t h s • Po s s i b l e o n s i t e c h i l d c a r e • Po s s i b l e o n s i t e me d i c a l / d e n t a l c l i n i c Th e p r o p o s e d d e v e l o p m e n t w o u l d l i k e l y s e r v e f a m i l i e s a n d in d i v i d u a l s w i t h h o u s e h o l d i n c o m e b e t w e e n 5 0 - 7 0 % o f t h e ar e a m e d i a n i n c o m e . A d d i t i o n a l l y G M D i s l o o k i n g i n t o o t h e r su s t a i n a b l e w a y s t o r e a c h a b r o a d e r r a n g e o f h o u s e h ol d s , al l o w i n g t h e p o s s i b i l i t y t o s e r v e l o w e r i n c o m e f a m i li e s . DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 RE S I D E N T A F F O R D A B I L I T Y • Ha l f t h e u n i t s i n e a c h p r o j e c t w o u l d t a r g e t ho u s e h o l d s a t l e s s t h a n 5 0 % A M I ( i n c o m e a n d re n t ) . • Re m a i n i n g h a l f w o u l d a c c e p t h o u s e h o l d s u p t o 70 % o f A M I i n c o m e , w i t h r e n t s s e t f r o m 6 0 - 7 0 % of A M I . • Co m m u n i t i e s w i l l b e s u s t a i n a b l y d e s i g n e d a n d bu i l t w i t h h i g h q u a l i t y m a t e r i a l s a n d s o l a r ph o t o v o l t a i c a n d s o l a r t h e r m a l t o r e d u c e b o t h ow n e r a n d r e s i d e n t u t i l i t y c o s t . St a r n e r G a r d e n s DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 • Lo c a l p o l i t i c a l a n d f i n a n c i a l s u p p o r t • B2 z o n i n g a n d c o n d i t i o n a l u s e p e r m i t  Fi n a n c i a l f e a s i b i l i t y  Ti t l e r e v i e w  Su r v e y  En v i r o n m e n t a l r e v i e w  Pr e l i m i n a r y s i t e p l a n  So i l s a n d w e t l a n d r e v i e w  Qu a l i f i e d C e n s u s T r a c t IN I T I A L 9 0 D A Y D U E D I L I G E N C E P E R I O D – “ G O O R N O G O ” DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 CU R R E N T R E N T S U M M A R Y - 2 0 1 8 A r e a M e d i a n I n c o m e s DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4 Fu n d i n g R e q u e s t : $ 5 0 0 , 0 0 0 (a p p r o x i m a t e l y $ 1 , 8 5 0 / p e r u n i t ) • Wo u l d p r o v i d e c r i t i c a l f u n d i n g g a p th a t w i l l l e v e r a g e a p p r o x i m a t e l y $ 3 2 mi l l i o n i n T a x E x e m p t B o n d s + $ 2 0 mi l l i o n i n T a x C r e d i t E q u i t y . • Fu n d i n g t o b e u s e d t o o f f s e t g e n e r a l co n s t r u c t i o n c o s t s . Es t i m a t e d t i m e o f c l o s i n g = F a l l 2 0 1 9 CA H A B – C I T Y O F B O Z E M A N - F u n d i n g R e q u e s t DocuSign Envelope ID: 4FA502EF-F3B8-48AD-8892-577D24867CF3DocuSign Envelope ID: 6FAC09E3-F39E-457A-99CF-3B859A4C0FC4