HomeMy WebLinkAbout03-27-21 Public Comment - R. Waters - Opportunity ZoningFrom:agenda@bozeman.net
To:Agenda
Subject:Thank you for your public comment.
Date:Saturday, March 27, 2021 8:30:30 AM
A new entry to a form/survey has been submitted.
Form Name:Public Comment Form
Date & Time:03/27/2021 8:30 AM
Response #:981
Submitter ID:36475
IP address:69.145.230.164
Time to complete:14 min. , 23 sec.
Survey Details
Page 1
Public comment may be submitted via the form below, or by any of the following options.
Public comment may also be given at any public meeting.
Email:
agenda@bozeman.net
Mail to:
Attn: City Commission
PO Box 1230
Bozeman, MT 59771
First Name Robert
Last Name Waters
Email Address bobwaters28@msn.com
Phone Number 4065871333
Comments
I’ve sent the following to Senator Corey Booker, as he was a co-author of the legislation that created
Opportunity Zones. Although the Opportunity Zone designation here in SW Bozeman may serve some
vaulted purpose, there are clearly unintended consequences that I find deeply disturbing.
Senator Booker,
I’m writing to inform you about what I perceive to be the misuse of the Opportunity Zone legislation that
was part of the Tax Cut and Jobs Act of 2017. It is my understanding that you co-authored the Opportunity
Zone legislation.
Leaders in my city of Bozeman, Montana were able to designate neighborhoods surrounding Montana
State University, where I reside, as an Opportunity Zone. The Zone is anything but low income or distressed
in any way, and most homes are valued at $600,000 to $1,000,000 or more. Bozeman is one of the fastest
growing small cities in the country, and home prices have continued to skyrocket during the Covid
pandemic. The Opportunity Zone designation has done nothing but pour fuel on the fire of escalating home
prices, as wealthy investors leap at the chance to share in the spoils. Although our $629,000 home is not on
the market, out-of-state buyers are clamoring to buy our home sight-unseen. We’ve received letters from
four realtors via which we’ve been informed that their clients are eager to buy as many properties as
possible in our neighborhood. In all likelihood, these properties will be turned into profitable rentals for
college students, become vacation rentals, or be flipped for huge profit at some point in the future. I don’t
believe that the purpose of the Opportunity Zone designation is to allow investors to gobble up single
family homes in thriving communities by outbidding those in dire need of housing, thereby adding fuel to
an already serious housing affordability and shortage crisis, so that they can avoid taxes and then, at some
later date, reap obscene profits that result partially from the housing crisis they’ve helped to exacerbate.
This is an issue that must be addressed.
If you would like to submit additional documents (.pdf, .doc, .docx, .xls, .xlsx, .gif, .jpg, .png, .rtf, .txt)
along with your comment, you may alternately address agenda@bozeman.net directly to ensure
receipt of all information.
Thank you,
City Of Bozeman
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