HomeMy WebLinkAbout03-23-21 Public Comment - K. Thane - Affordable Housing Levy & BondFrom:Cyndy Andrus
To:Agenda
Subject:Fwd: Affordable Housing Levy and Bond Analysis
Date:Tuesday, March 23, 2021 1:20:52 PM
Cynthia Andrus|Mayor
City of BozemanP:406.582.2383|E:candrus@bozeman.net|W: www.bozeman.net
Begin forwarded message:
From: Cyndy Andrus <CAndrus@bozeman.net>Date: March 23, 2021 at 12:04:22 PM MDTTo: Jeff Mihelich <jmihelich@bozeman.net>Subject: Fw: Affordable Housing Levy and Bond Analysis
Hi Jeff,
Just thought I would pass this along as you may be asked about it this evening.
thank you.
Cynthia Andrus | Mayor City of Bozeman | 121 North Rouse Avenue | P.O. Box 1230 | Bozeman, MT 59771P: 406. 582-2383| E: candrus@bozeman.net | W: www.bozeman.net
From: Kevin Thane <kpthane@gmail.com>
Sent: Tuesday, March 23, 2021 11:25 AM
To: Cyndy Andrus <CAndrus@BOZEMAN.NET>
Subject: Affordable Housing Levy and Bond Analysis
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Mayor Andrus:
Having reviewed the Affordable Housing Levy and Bond Analysis attached to theagenda for tonight’s Commission meeting I support the use of the 10M bond to beused for affordable housing projects, excluding administration and personnel costswhich would continue to be funded outside of the funds from the Bond. It appearsthat the staff report suggests that a mill levy be run in conjunction with the Bond issueto cover administrative costs. I would propose that the administrative costs foraffordable housing, including staff, operational expenses, HRDC contracts forHomebuyer education, Waiting List administration, etc. be funded using mills from the
general fund as is currently the practice. This would avoid having taxpayers fund twoseparate tax increases since taxpayers are already paying the administrative coststhrough the general fund. Doing it this way may increase the odds of the Bond issuepassing. In fact, the number of mills used for administration may be able to bedecreased which would lower the cost to taxpayers for the administrative side ofthings. I also support the Bond issue because the need to keep moving forward is nowand having the funds available immediately rather than, in the case of a mill levy,having to accumulate the funds over time will better support affordable housing.
I have a concern that the language mentioned on page 5 for the ballot question may betoo limiting.
“The bond proceeds would go towards a combination of a revolving loan fund,land acquisition fund, and reimbursement for qualifying affordable housing projects.”Hopefully, there could be some general language added to make sure that the fundscould be used as deemed appropriate by the Commission, the CommunityDevelopment Department, and CAHAB (or whatever super board replaces CAHAB).
I suggest that general language that could be added would be something like,“The bond proceeds would go towards the general support of affordable housinginitiatives within the City of Bozeman, including a combination of a revolving loan fund,land acquisition fund, and reimbursement for qualifying affordable housing projects.”
Thanks for all you do for affordable housing, and the City in general.
Kevin Thane