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HomeMy WebLinkAbout638300224212646206) ZAN 05085A;Creekwood PUD `CODS .s2ridge= Dri ,b ighausenZL 2$0w'1"2 + ` 5 .. M1"..4'Y .iv TNY. N O Ul O 00 D I I L,5- FILE REVIEW SHEET CITY COMMISSION PROJECT DECISION File Name: ile Number: ��j54 I 't S: Reference Files: — Sp U fo -0�0 $ 4 - `(p 0 /Elal Doate Done By N/A Accept for initial review letter(5 working days after application deadline) ❑ Adequate for continued review letter(20 working days after application ❑ deadline) DRC initial week review/public comment period begins ©' DRC second week review p' DRC final week review Cif DRB staff report or ADR draft conditions due - if applicable ®' DRB meeting - if applicable Q' WRB review- if applicable Ek Comments from other review agencies due ❑ Prepare project map for notices 4/ vi ❑ Notice to applicant and adjoiners (not less than 15 or more than 45 ❑ days before the City Commission hearing) `-f/4 -2 11/?- Post notice (not less than 15 or more than 45 days before the City ❑ Commission hearing) Newspaper notice (not less than 15 or more than 45 working days before the City Commission hearing) &1,L6 y�2"� ❑ Notice to Neighborhood Coordinator (Same date as public potice.) cC ❑ City Commission staff report due S7a ❑ City Commission hearing date �- p Final approval letter to applicant ❑ Recommended Recommended Approval Recommended Date N/A Approval with Conditions Denial DRC action ❑ DRB action p- WRB action Approved Approved with Conditions Denied Date City Commission action Date Final Site Plan due: Date of Final Site Plan approval: Date Final Site Plan approval expires: Improvements Agreement required? Yes ❑ No ❑ Date returned: Date financial guarantee received: Date financial guarantee expires: Date financial guarantee released: Date Temporary Occupancy is granted: Date Final Occupancy is granted: • I W7A R VARMUZ t � Imo` • :• man MCI MAM !ter MA i 1 PAM - , , -'--+� j , ,r•* 4�.y�r +�':X.: ' � -. / '� ' S , ,.9 0 0 Q� '� ,�,� �, .,��tt• t `:,�_� . N� _ d�s �. .. � . �. t - e y � � \ I f � � 0 �i � i C ee�r.✓dc�C� _A BUY - SELL AGREEMENT Q (Including Earnest Money Receipt) The use of this form Is for REALTORS members only(members of the Montana Association of REALTORSS) and cannot be used by any other party for any purpose.Use of these forms by other parties may result in legal action by the Montana Association of REALTORSO. 1 This Agreement stipulates the terms of sale of this property. Read carefully before signing. 2 This is a legally binding contract. If not understood,seek competent advice. 3 Bozeman Montana, (date) 05/29/12 Jeff Homan & Justine Homan 5 as■joint tenants with rights of a survivorship, ❑tenants in common, ❑single in his/her own right, 6 ❑Other (her'einafter called"Buyer")agrees to.purchase,and the 7 Seller agrees to sell the following described real property (hereinafter referred to as "Property") commonly known 8 as THD Creekwood Dr. 10 in the City of Bozeman County of Gallatin .!J_Monra­na, regelly described as: Lot 48, grerfikwood subdivision. 15 TOGETHER with all interest of Seller in vacated streets and alleys adjacent thereto, all easements and other 16 appurtenances thereto, and all improvements thereon. All existing permanently installed fixtures and fittings that are 17 attached to the Property are included in the purchase price, such as electrical, plumbing and heating fixtures, wood, 18 pellet, or gas stoves, built-in appliances,screens,storm doors, storm windows,curtain rods and hardware, attached floor 19 coverings, T.V. antennas, satellite dish, hot tub, air cooler or conditioner, garage door openers and controls, fireplace 20 inserts, mailbox, and trees and shrubs and perennials attached to the Property, attached buildings or structures, unless 21 otherwise noted below: 26 PERSONAL PROPERTY: The following items of personal property, free of liens and without warranty of condition, 27 are included and shall be transferred by bill of sale: Range, refrigerator, dishwasher, microwave, Range Hood, garage door remotes (2) , garbage disposal. 32 LEASED/RENTED PERSONAL PROPERTY: The following personal property is leased/rented: U water softener 33❑water conditioner ❑propane tank ❑satellite dish ❑satellite control ❑alarm system 0 other 35 Buyer is responsible for making arrangements concerning Buyer's right to lease/rent said items and Seller makes no 36 representations or warranties concerning the transferability of said items or the assignment of any agreements relating 37 to the lease/rental of said items. 39 PURCHASE PRICE AND TERMS: 40 Total purchase price is Two Hundred Ninety-Hight Thousand U.S. Dollars 41 ($ 298,000.00) payable as follows: 42 $ 5,0 0 0.0 0earnest money to be applied at closing. 43 $ 18,000.oo as additional cash payment, payable on or before closing. 44 $ 275,o o o.oo balance of the purchase price will be financed as follows: 45 N Conventional ❑MBOH p Seller Financing 46 ❑FHA ❑USDA-RD ❑Assumption of Existing Loans 47 ❑VA ❑Other Institutional Financinq Proceeds of a new loan. Buyers are pre-qualified with Wells Fargo. ®MONTANA ASSOCIATION OF REALTORS® Page 1 of 9 A uyer's Initiats Buy/Sell,April 2012 Seller's IInitfiallss This Porm presented by Claire Gillam 1 prudential Montana Real Rotate 1 (406) 506-7676 1 o lairs.gillam®prumt.com J 657-016 Deeem166 1 2012, Andy Ebbighausen Ebbighausen Homes, Inc. PD. Box 930 Manhattan,MT 59741 .Dear:Aody,;, Attached are calculations for the moderate housing lot. In our negotiations with the city,we reduced the target price from a home affordable to a family of four earning 120%of Area Median Income to 100%of AMI. According to HRDC,the target payment(assuming 5%down), is L$1689.50._; I have attached the insurance bonder,the tax bill for the other moderate home in Creekwood,and a payment work sheet submitted by Tami McLaughlin at Preferred Mortgage. As you can see,we are under the max payment amount with 5%down,and clearly conform to the intended goals. I hope:t is helpful. Please let me know if you need anything further. Ami Grant Broker/CCIM Prudential Montana Real Estate r � b American Pacific NIM Coro dba A Preferred Mortoano Team,NM&I Ortolnawn TemlMcLeuohlin.NMLSa 27Z540 FEES WORKSHEET Fee Details and Summary -7 Applicants: lest tester Application No: t Z M V Prepared By: American Pacific Mtg Corp dba A Preferred Mortgage Team Ph.406-556.9017 Dale Prepared: 2018 Stadium Drive,Ste B,Bozeman,MT 59716 Loan Program: 30 Fixed THIS IS NOT A GOOD FAITH ESTIMATE(GFE).This"Fees Worksheets'is provided for informational purposes ONLY,to assist you In determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment.Actual Charges may be more or less,and your transaction may not involve a fee for every item listed. Total Loan Amount: $283,100 Interest Rate 3.625% Term/Due In: 360/360 mths Fee PAldTo. Paid By IF"Sptlt'•) Amorad PFCIFIPOC OR)GWATION CHARGES OTHER CHARGES Huard Inwratme Reserves: - Borrower S 30,SJ x 3. .f 91.59 County Property Tea Reservers borrower 3154.83 x 6 m0i(s) i 928.98 Daly interest Charges Borrower 3 28.5066 x 15 day(s) $ 427.60 d TOTAL ESTIMATED'FUNDS NEEDED TO CLOSE: TOTAL ESTMATED.MO YPAYYENT Purchase Price(.1 288 000 00 Loan Amount(-) 203 100.00 Prirldpel S Interest 1.2Bt.08 Attaratbms(y Earnast Monov glepoft 0.00 0arorFinancing(P a 1) Lmtd f-) Lendw CnKu-UP To' 0.06 Hazard lnsumnce 30.63 Ran find.debts to be paid am(•) •Sutiect to Chance 0.00.. Red Estate Tams WAS_ EaL Prepaid IloonaMesdrvos N) 1A48./7 Mortgage Insurance 164.02 Est.Closing Costs(.) Homeownor AssrL Dues Other Tout Estlmatad Funds needed to dose 16,348.11 Total Monthly PAVMtrd 11,660,46 'PFC=Prepaid Flnanca Charge F•FHA Alory b:Closing Cost POC=Paid Outside of closing - 8-Borrower 5=Seger Br=Bmkw L-Lender TP=Third Pady C-Correspondent Calyx ram-teewf.frm(09,2010) �^� • GEOCODE(S) — — — — — REALTY TRANSFER CERTIFICATE - — — — — — Confidential Tax Document — — — —The Information contained In this cartificate Is confidential — —by Montana law.Unauthorized disclosure of this Information ASSESSMENT CODE: is a criminal offense. The Department of Revenue will change the name on ownership records used for the assessment and taxation of real property when this form is fully and accurately completed and signed.(Please read the attached Instructions on PART 1—DATE OF TRANSFER(SALE) page 1 for assistance In completing and filing this form). Montana low requires this fohrr be completed and may impose up to a $500 penalty for faffure to file a Realty Transfer Certificate(15-7-304,305 (MM/DD/YYYY) and 310,MCA) PART 2—PARTIES Please complete this section in full;if additional space is required,please attach a separate page Seller(Grantor) List the last 4 digits of the SSN or FEIN w Name EBBIGHAUSEN HOMES INC SSN 000 00 - N MallingAddress PO BOX 930 SSN 000 00 o m 0 (Permanent) FEIN 00 000 0 City MANHATTAN Z ST MT Zip 59741 Daytime Phone (406)284-6862 0 Seller Principal Residence _Yes _No m Buyer(Grantee) SSN 000 00 - 01310 Name KRISTIN N.CARDEN # SSN o 00 Mailing Address 2457 CREEKWOOD DR - - (Permanent) FEIN�0�-000 I city BOZEMAN STMT 7jp 59715 Daytime Phone M5-J gK-g24 Buyer Pdndpal Residence _Yea _No Transfer to Trustee,Custodian,or other Melling Address Representative: ` For Tax Notice Trust FEIN 00 -000 (If different) city ST_73p Minor SSN 000 - 00 PART 3—PROPERTY DESCRIPTION Please complete fully;if additional space Is required,please attach a separate page Legal Descdption CREEKWOOD SUB LOT 52 Attachment ❑ Add/Sub Block Lot County GALLATIN City/Town BOZEMAN Section Township Range PART 4—TYPE OF TRANSFER Please complete fully,more than one may apply. O Sale ❑Gift ❑ Barter ❑ Nominal or No Consideration ❑ Part of 1031 or 1033 exchange ❑Transfer is subject to a reserved life estate ShedfFs sale:❑ mortgage ❑trust Indenture ❑other ❑ Deed in lieu of foreclosure ❑Short sale ❑Auctlon/Sealed bid A copy of the recorded Instrument must be attached to the Realty Transfer Certificate. Transfer by Operation of Law ❑Termination of Joint tenancy by ❑ Termination of life estate by ❑Court order or decree ElMerger,consolidation,or other death death (except sheriff's sale) business entity reorganization PART 5—EXCEPTIONS FROM PROVIDING SALES PRICE INFORMATION Please complete fully,more than one may apply ❑ Gift ❑Terninallon of life estate by death ❑Transfer In contemplation of death without consideration ❑Transfer pursuant to court decree(except sheriffs sale) O Transfer between husbandhMfe or parentichild for nominal ❑Tax deed consideration ❑ Merger,consolidagon or reorganization of business entity ❑Transfer of property of the estate of a decedent ❑Land eligible for fimberfand/forestland classification(15-44A03,MCA) ❑Transfer by government agency ❑Land eligible for agricultural classification(15-7-201,MCA) ❑ Correction,modification,or supplement of previously recorded ❑Transfer to a revocable living trust Instrument,no additional consideration ❑Other(Specify Type) ❑Termination of Joint tenancy by death PART 6—SALE PRICE INFORMATION Please complete fully,more than one may apply Actual Sale prices 298,000.00 Value of goodwill Included In sale$ 0.00 Financing: _Cash _FHA _VA _Contract _Other Was an SID payoff Included In the sale price? Yes y/ No Terms: -/New loan OR _Assumption of existing loan Did the buyer assume an SID?_Yes ✓ Nc Value of personal property included In sale$ 0.00 Amount of SID paid or assumed:$ Value of inventory included in sale$ 0.00 Was a mobile home Included In the sale? _Yes —/ No Value of licenses included In sale$ 0.00 PART 7—WATER RIGHT DISCLOSURE-This Disdlosure is only applicable to the property identified In PART 3 above !�A. Property is served by a public water ❑ B. Seller has no water ❑C.Seller Is transferring ALL ❑ D.Seller Is dividing or exempting supply,Le.,city,Irrigation district,or rights on record with water rights on record (reserving)water rights.Seger water district provide water. DNRC to transfer. with DNRC to the Buyer. must file Water Right Update form. Seller(Grantor)Sign c Date PART 8—PREPARER INF4RM•ATION Preparer's signature is required Name/TIUe HEIDI A.EBBIGHAUSEN (please print) Sl a ure Melling Address PO BOX 930 Da me Ph '(406)284-6862 city MANHATTAN ST MT Zip 59741 Clerk and Recorder Use Only Recording Information: Document# Book Page Deta _Warranty _Trust Deed _Quit Claim _Grant _Contract for Deed _Decree _Interest _Bargain 8 Sale Deed _Notice of Purchaser's Interest _Statement of Aclmowledgement _Termination of Joint Tenancy _Tax Deed Beneficiary Deed _Other Department of Revenue Copy Page 3 • USAA /2/2012 11 :30:01 AM PAGE 263 Fax Server 9900 Fredericksburg Road C I C 00918 99 88 91 A 'N San Antonio,Texas 78288 HOMEOWNERS CERTIFICATE OF INSURANCE USA USAA CASUALTY INSURANCE COMPANY 11/02/12 WELLS FARGO BANK, N.A. #936 PO BOX 100515 FLORENCE,SC 29502-0515 POLICY INFORMATION Named Insured:KRISTIN N CARDEN Policy Number: 00918 99 88- 91A Loan Number: 0347785743 Policy Form: HO 9 Effective Date: 11/12/12 Expiration Date: 11/12/13 ADDITIONAL INTEREST Interest: FIRST MORTGAGEE Name: WELLS FARGO BANK, NA. #936 ITS SUCCESSORS AND/OR ASSIGNS Address: PO BOX 100515 FLORENCE, SC 29502-0515 PROPERTY INFORMATION Location: 2457 CREEKWOOD OR BOZEMAN. GALLATIN, MT 59715-2137 Legal Description: POLICY INCLUDE HOME PROTECTOR WHICH GIVE AOOT'L 25% ABOVE COVG A IF NEEDED COVERAGE INFORMATIONS 'Cov6rageapp lies only if a limit is shown. Coverage Limit Coverage Limit Dwelling: $252,000 Personal Liability, Other Structures: 2 200 Medical Payments: Personal Property: Deductible: Annual Premium: $3 6.34 WIND AND HAIL $1 ,000 ALL OTHER PERILS _ $1,000 PREFERRED PROTECTION PLAN See back of form for an important disclosure. « Copy of contract available upon request 126240-0312_03 DWGC01 08-12 Page 1 of 2 11/02/2012 11 :30AM (rMT-05:00) U AAA tl/G/GV1G 11:JV V1 H17 YHldl. 1/VVJ PdX qGt vat .• CIC 00918 99 88 91A SEl ELECTRONIC COVER LETTER _ RECIPIENT WELLS FARGO BANK, N.A. #936 PO BOX 100515 FLORENCE,SC 29502-0515 FAX NUMBER: (877)695-3745 REMARKS: ATT: CARLA RE: LOAN E 0347785743 SENDER WIGENT,LARRY 0 PHONE: 1-800-531-8722 IF YOU DO NOT RECEIVE FULL TRANSMISSION, CALL SENDER CONFIDENTIALITY NOTICE The information contained in this electronic transmission is a CONFIDENTIAL COMMUNICATION and may be protected by one or more legal privileges. It is intended solely for the use of the recipient identified above. If you are not the intended recipient, you are hereby notified that reading, copying, or distributing this transmission is STRICTLY PROHIBITED. The sender has not waived any applicable privilege by sending the accompanying transmission If you have received this transmission in error, please notify the sender immediately by telephone, and destroy the accompanying transmission Thank you. FAXCOVSHT 11/02/2012 11 :30AM (GMT-05:00) CSA iTax • • Page 1 of 2 �r •l y #Big Sky # Bozeman �� New Search [!j History 99 payoff Help Property/Parcel TaxID: RFH56097 Mailing Address: 2348 BOYLAN RD Status: Current BOZEMAN,MT 597151524 Receipt: 56097 Levy District: 0350-08,7C Bozeman(C)BZP 2012 Owner(s): PROMISCO TREVOR M 2012 Value: 2012 Taxes: 2012 Payments: Market: $116,282 First Half: $932.20 First Half: $932.20 Taxable: $3,058 Second Half: $926.13 Second Half: $0.00 Total: $1,BS8.38 Total: $932.20 Vet Exempt: $0 Net Taxable: $3,058 Detail ] Detail 2012 Legal Records: Geo Code:06-0905-32-4-01-61-0000 Date:11/30/2009 Property address:2348 BOYLAN RD,BOZEMAN MT 59715 Subdivision: (CRW)SubDlvislon CRW Lot: 32 TRS:T01 S, R06 E, Sec. 32 Legal:CREEKWOOD SUB,S32,T01 S, R06 E, Lot 32 ACRES 0.186, PLAT 3-444 Note: TO OBTAIN PAYMENTS, CLICK ON "HISTORY" Only St1'S search criterion is required(e.g. Parcel#or Owner Name).Entering additional criteria will result in an Incomplete search. ATTENTIOPI: For Owner Plane Searches,you must search LastName FirstNam-.. Website data last updated 11/1Z/2012. Payments can be sent to: Gallatin County Treasurer 311 West Main,Room 103 Bozeman,MT 59715 Please direct any questions to: (406)582-3030 or treasurer(dgallatin.mt.aov TAY, D Jigs 1Sc powered By 0' ^Aa, T http://itax.gallatin.mt.gov/detail.aspx?taxid=RFH56097 11/13/2012 f; Inter-office Original to: City of Bozeman Planning Department 20 East Olive Street PLATTED - ZJ [P?age:423869 1 of 2 08/20/2012 10:51:06 AM Fee: $14.00 rlotte Mills - Gallatin County, MT MISC .� ������ IIIIII IN 111111111111111111111 III 11111111111111 III RELEASVOF DEED RESTRICTIONS CREEKWOOD PUD SUBDIVISION,BOZEMAN, MONTANA NOTICE IS HEREBY GIVEN to all potential purchasers of Lot 32 in Creekwood PUD Subdivision, that the conditional use permit authorizing a planned unit development in connection with the subdivision was approved by the Bozeman City Commission with a condition that restricted full usage of some of the lots of the subdivisions until.certain affordable housing actions have been met. Documents 2245091 and 2266431 recorded at the Gallatin County Clerk and Recorder contain the original and amended agreement implementing those conditions of approval. As a consequence, Lot 32 was the subject of a deed restriction relating to affordable housing and limiting the ability of the lot to be sold. Modifications to the conditions of approval have been approved by the City Commission through application Z-05085A. A revised agreement has been signed and recorded as Document oZyoZ / 1p on 2 , 2012. THEREFORE, BE ADVISED, that the related deed restriction on Lot 32, Creekwood PUD Subdivision restricting sale of the property has been rendered unnecessary and is hereby released. DATED this A day of A,✓J , 2012. Creekwood PUD Subdivision: Notice of Building Permit Restrictions THE Y F BOZEMAN T'm Mellarg lanning Director STATE OF MONTANA ) :ss County of Gallatin ) a On this day of , 2012, before me, a Notary Public for the State of Montana, personally a eared-Tim McHarg, known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. ::t,: f. W. (S_ �ynature ab ve) (Seal) A,V,NOTARY .s-' (Printed Name above) _ 4Z.t►s Notary Public for State of Montana ' = Residing at: �►'.SEAL ••* Commission E pires: 04 (Use 4 digits r expiration year) Creekwood PUD Subdivision: Notice of Building Permit Restrictions Page 2 of 2 Inter-office Original to: City of Bozeman Planning Department 20 East Olive Street AMENDED AFFORDABLE HOUSING CONDITIONS OF APPROVAL, RELEASE,AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT, #Z-05085A THIS AGREEMENT is made and entered into this `� day of ) , 2012, by and between, First Interstate Bank (Matt Johnson), 202 West Main Street, Mzeman MT 59715; and Clint Loigman, 401 Park Place, Bozeman MT 59715, hereinafter collectively called the "Property Owner", and the City of Bozeman, a Municipal Corporation and political subdivision of the State of Montana, with offices at 411 East Main Street, P.O. Box 1230, Bozeman, MT 59771-1230, hereinafter called the "City". WHEREAS, Oakwood Properties, LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman, MT 59718, and the CITY OF BOZEMAN, a Municipal Corporation of the State of Montana, hereinafter called the "City" entered into an Affordable Housing Agreement dated October 16, 2006, filed as Document No. 2245091 to meet the terms of application Z-05085; and 00 WHEREAS, the subject property is legally described as Creekwood Subdivision located in the toE. El/2, SE'/4 of Section 32, TIS, R6E, PMM, City of Bozeman, Gallatin County, Montana; and to WHEREAS, Oakwood Properties, LLC filed the final plat; and WHEREAS,the original CUP approved under Z-05085 granted a density bonus in exchange for the following two Affordable Housing conditions: Cq a a-- 1. In exchange for the requested density bonus the Property Owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. N 2. The Final PUD Plan shall address the means by which the affordable housing will be a�= ��— provided to mitigate the proposed density bonus, agreeable to the City of Bozeman, with input from the HRDC. At a minimum, the method of donation shall be proportionately 0 �= Creekwood PUD Affordable Housing Amendment #Z-05085 N°�= Page 1 of 9 N°L=ace— r .Gallatin County,Montana Charlotte Mills i Gallatin County Clerk&Recorder 311 W.Main#203 ^- i Boaeman,MT 59715 i Receipt: 12-11289 Product P"Zw Extended C Copies $0.50 T tvtail Pagan O Vaa s EarlaWab Access G,Acwor Ccpias OFirst?age$0.50 Total $0.50 Tender(On Account(Charge or Prepay)) $0.50 Acmunt*BZIN,Accoun'Nanla Cri/OFBOZEIvIAN, Balance$184.S0 i Thank You! 7M,12 4:09 P11 mm t I I -Gallatin County,Montana I Charlotte Mills Gallatin County Clerk&Recorder 311 W. Main#203 Bozeman,MT 59715 I Receipt: 12-11288 Product Name Extended MISC Miscellaneous $63.00 Document*2420090,DocumentLnfo:CITYO;BOZEMAN, #rages 9 ` Total $63.00 Tender(On Account(Charge or Prepay)) $63.00 Account#BZll,AccountName CITYOFBOZENIAN, 1 Balance$184.00 Thank You! V6,12 4:07 FM mm 7= Inter-office Original_ to: City of Bozeman Planning Department 20 East Olive Street Accomodadon Recording Only STCk C;20/2- 2434902 Page: 1 of 1 12/12/2012 03:54:47 PM Fee: $7.00 Charlotte Mills - Gallatin County, MT MISC IIII III IIIIII IIIII (IIIIII IIIIII IIII I I IIIII IIIII(IIIIII III IIIII IIIII II I IIII .. RELEASE OF BUILDING PERMIT RESTRICTIONS CREEKWOOD PUD SUBDIVISION, BOZEMAN,MONTANA NOTICE IS HEREBY GIVEN to all potential purchasers of certain Lots in Creekwood PUD Subdivision which is described herein, that the final plat of the subdivision was approved by the Bozeman City Commission with a condition that restricts full usage of some of the lots of the subdivisions until certain affordable housing actions have been met. A notice of restriction has previously been recorded with the Gallatin County Clerk and Recorder advising of these limitations. A request for partial release has been made subsequent to performance of the condition. THEREFORE, BE ADVISED, that the restriction on the issuance of building permits on Lots 26, 37, and 52 are released; and further that The restriction on sale and requirement for deeds to be held in escrow on Lots 37 and 52 are released. DATED this //T day of December, 2012. THE CITY OF BOZEMAN Chris Saunders Assistant Planning Director STATE OF MONTANA ) :ss County of Gallatin ) On this /1 1— day of December, 2012, before me, a Notary Public for the State of Montana, personally appeared Chris Saunders, known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. VIC U Helene Greninger (Signature above y. tic (Votary Public a,, ,t '' y w•' oTARrq .�;for the State of Montana dQ 1-'lei P 6 0— -1 /v1 2 a ,N l.y Residing at: (Printed Name above) (Se - n .SEAL.•"e Bozeman, Montana qP' My Commission Notary Public for State of Montana Expires:March 25,2015 Residing at: &z Q.yKa,,i, Commission Expires: C 3/Z�S/LD>S (Use 4 digits for expiration year) Creekwood PUD Subdivision: Release of the Notice of Building Permit Restrictions Gallatin County,Montana Charlotte Mills Gallatin County Clerk&Recorder 311 W.Main#203 Bozeman,MT 59715 Receipt: 12-12607 Product Name Extended MISC Miscellaneous $49.00 Docum6nt#2421976.Docurnentlnfo:CrrY0FBOZcA4AN, #Pages 7 Total $49.00 Tender(Cash) $100.00 Change(Cash) ($51.00) Thank You! 7/27/12 4:43 PM cj • Inter-office Original to: • • City of Bozeman Planning Department 20 East Olive Street 2416084 Page: 1 of 2 05/22/2012 01:29:18 PM Fee: $14.00 C'arIIIIIIIIIIIIIItIIIGaliatin Illlll lt M I SC lll HE 111111111 IN KATTED i NOTICE OF BUILDING PERMIT RESTRICTIONS CREEKWOOD PUD SUBDIVISION,BOZEMAN, MONTANA NOTICE IS HEREBY GIVEN to all potential purchasers of certain Lots in Creekwood PUD Subdivision which is described herein, that the final plat of the subdivision was approved by the Bozeman City Commission with a condition that restricts full usage of some of the lots of the subdivisions until certain affordable housing actions have been met. THEREFORE, BE ADVISED, that: • Lots 37, 39, 40, and 52 may not be sold and the deeds shall be held in escrow by a neutral third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman. These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. • The issuing of building permits is restricted on lots 25, 26, 37,49, 40, 48, 49 and 52. A notice of building permit restriction is recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. Building Permits will not be issued for Lots 25, 26, 37, ^ 40, 48, 49 and 52 of Creekwood PUD Subdivision, City of Bozeman, Montana until the affordable housing requirements are completed by the Subdivider per separate agreement. S ' DATED this 7i� day of May, 2012. THE BOZEMAN Tim McHar Planning irector Creekwood PUD Subdivision: Notice of Building Permit Restrictions r STATE OF MONTANA ) :ss County of Gallatin ) S� On this �1 day of May 2012, before me, a Notary Public for the State of Montana, personally appeared Tim McHarg, known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. W'A �9- ��too (SjiVAbwe above) \ (Seal) Q�• ' • `sue''% (Printed Name above) -�pTAR/q�•��' Notary Public for State of Montana Residing at: ` Commission Expires: 1� (Use 4 digits r expiration year) OF I1 0 ,0Cy\;\\��� Creekwood PUD Subdivision: Notice of Building Permit Restrictions Page 2 of 2 y a Inter-office Original to:City of Bozeman .� Planning Department Pase: 1 of 2 20 East Olive Street 05/17/2007 01:44P Charlotte Mills-Gallatin Co MTMISC 14.00 V i s I RELEASE O. CONDITIONS OF IMPROVEMENTS AGREEMENT, AFFORDABLE HOUSING AGREEMENT AND NOTICE OF BUILDING PERMIT RESTRICTIONS I WHEREAS, the CITY OF BOZEMAN, a Municipal Corporation of the State of Montana, hereinafter called the "City" entered into an Improvements Agreement for the Creekwood Subdivision dated October 16, 2006, filed as Document No. 2245087 and an Affordable Housing Agreement dated October 16, 2006, filed as Document No. 2245091; and WHEREAS, the City filed a Notice of Building Permit Restrictions on said subdivision, with said document being filed on October 16, 2006, as Document No. 2245088; and WHEREAS, Oakwood Properties, LLC (Kelly Taylor), hereinafter called "Subdivider" has complied with terms and conditions of said Agreements regarding the issuance of building permits for Lot 17, Creekwood PUD Subdivision; THEREFORE, the City hereby certifies that terms and conditions of said Improvements Agreement, Affordable Housing Agreement and Notice of Building Permit Restrictions have been satisfied regarding the issuance of building permits for Lot 17, Creekwood PUD Subdivision and as such Subdivider is hereby released from the terms and conditions of the above-described Agreement regarding the issuance of building permits for Lot 17, Creekwood PUD Subdivision. Dated this 30`h day of April, 2007. i CITY OF BOZEMAN, a Municipal Corporation the State of Montana, by Chris Saunders, AICP Assistant Planning Director I i i � I a a o a a to N!� STATE OF MONTANA ) N a a :ss County of Gallatin ) On this,'�Dday of Yd , 2007, before me, a Notary Public for the N State of Montana, personally appeared Chris Saunders, AICP, known to me to be the person described in and who executed the foregoing instrument as Assistant Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the da y and year first written above. E � y L (S e abo ) �� ro U (Seal) (Printed,Narl above) ontana Notary Public for State of `\����uunun�n��i Residing at: / l� l�'t \\\���P��( KE/yN ,, Commission Expires: Z OTq <L= (Use 4 digits for expiration year) 'S ;A EA-,.•'z\ 1 0 •PAP � F Mom . I i i i i Creekwood PUD Subdivision,Lot 17,Release of Notice of Building Permit Restrictions 2 I I I Inter-office Original to: I City of Bozeman Planning Department 20 East Olive Street I I I I AMENDED AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT, #Z-05085 WHEREAS, OAKWOOD PROPERTIES, LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman,MT 59718,hereinafter called the "Property Owner",and the CITY OF BOZEMAN,a Municipal Corporation of the State of Montana, hereinafter called the "City" entered into an Affordable Housing Agreement dated October 16, 2006, filed as Document No. 2245091; and WHEREAS,the Property Owner desires to replace Lot 17, Creekwod PUD Subdivision,with Lot 30, Creekwod PUD Subdivision in Section 3 Phasing of said agreement; and WHEREAS, the City agrees that Lot 17, Creekwod PUD Subdivision, can be replaced by Lot 30, Creekwod PUD Subdivision in said agreement in Section 3 Phasing as follows; and 3. Phasing Based on fulfillment of the affordable housing requirements,the following phasing shall be in force. 1. Upon approval of the Final Plat: • 39 unrestricted building permits may be issued. • 3 building permits restricted to I Lots 32, 39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37, 38, 39,40, 52,and 53 may not be sold and the deeds shall be held in escrow by a neutral third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman. These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. • This agreement shall restrict the issuing of building permits on lots 3, 8, 24, 30, 34, 37, 38, 40, 44, 45 j and 53. A notice of building permit restriction will be recorded on these lots.These lots shall be released from Creekwood PUD Affordable Housing Amendment #Z-05085 Page 1 of 3 i j i I I building permit restriction proportionate to the fulfillment of the affordable housing requirements. THEREFORE,the Property Owner shall have this amendment to Agreement recorded in the Office of the Gallatin County Clerk.and Recorder. i DATED THIS �3 D DAY OF� , 2007. I PROPERTY O R i O ood rop ies, LLC By Kelly aylor, Managing Member I STATE OF ) i :ss County of ) On this � day of AM`1 2007 before me the undersigned, Notary a Public for the State of Montana,personally appeared Kelly Taylor,known to me to be the Managing Member, Oakwood Properties, LLC, the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said company. i IN WITNESS WHEREOF, I have hereunto set my hand andaffixed my Notarial Seal the day and year first above written. (Si ' ature ab� v ) ' (Seal) (Printed Narhe above) Notary Public for State of Montana KE ,,��� Residing at: 1�9 \"N �F�'%� Commission Expires: 2 1 C7 • N p TAR/ <,c (Use 4 digits for expiration year) Ste, �Q\ THE CITY OF BOZEMAN OF Mo\-I,\ � nn»111110\0 Chris Saunders, AICP Assistant Planning Director STATE OF MONTANA ) i Creekwood PUD Affordable Housing Amendment #Z-05085 Page 2 of 3 i I 1 ► I .ss County of Gallatin ) On this day of A17 2007, before me, a Notary Public for the State of Montana,personally a earefl Chris Saunders,AICP,known to me to be the person described in and p Y pp who executed the foregoing instrument as.Assistant Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. i IN WITNESS WHEREOF,I have hereunto set my hand and affixed my seal on the day and year first written.above. j (S na 5ure abo e) Lc (Seal) (Printed N e above) Notary Public Pr State of Montana.. Residing at: , U IAIw . 11 � Commission Expires: j2 --61 0 Y ov y., (Use 4 digits or ex iration year) AoTARi9 a = Y n . SEAL �\ Pam' I i i I Creekwood PUD Affordable Housing Amendment #Z-05085 I Page 3 of 3 J-444 11111111111111111111111111 2z450 ' Inter-office Ori ing al to: II IIII IIIIIII III IIIII IIII IIII 1 /Page:12006 ;�1A City of Bozeman Shelley Vance-Gallatin Cc MT MISC .49.00 Planning Department 20 East Olive Street AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT, #Z-05085 THIS AGREEMENT is made and entered into this 14!o day of �� �,2006, by and between Oakwood Properties, LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman, MT 59718, hereinafter called the "Property Owner", and the City of Bozeman, a Municipal Corporation and political subdivision of the State of Montana, with offices at 411 East Main Street, P.O. Box 1230, Bozeman, MT 59771-1230, hereinafter called the "City". WHEREAS, the undersigned Property Owner acknowledges the receipt of a Conditional Use Permit(CUP)for a Planned Unit Development(PUD)from the City of Bozeman to establish a unified development plan of a 37.66 acre subdivision for the development of 53 single-household lots with the following requested relaxation from the City of Bozeman Municipal Code: Section 18.16.040.B Lot Area for R-S Residential Suburban Lots to allow a 30 percent density bonus as permitted under Section 18.36.090.E. WHEREAS, the subject property is legally described as the E'/z, SE'/4 of Section 32, T1S, R6E, PMM, City of Bozeman, Gallatin County, Montana; and WHEREAS,the CUP granted a density bonus in exchange for the following two Affordable Housing conditions: 1. In'exchange for the requested density bonus the Property Owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. Creekwood PUD Affordable Housing #Z-05085 Page 1 of 7 IIIIII IIIII IIIII IIIIII IIIII IIII IIIIIII III IIIII III 2245091A Shelley Vance-Gallatin Cc MT MISC 49.00 2. The Final PUD Plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus, agreeable to the City of Bozeman, with input from the HRDC. At a minimum, the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listed as party to the restriction. WHEREAS, the Property Owner wishes to receive approval of the final PUD plan, final plat,and to obtain building permits. WHEREAS, it is the intent and purpose of both the Property Owner and the City to hereby enter into an Agreement which will guarantee the full and satisfactory completion of the required conditions described herein; and it is the intent of this Agreement, and of the parties hereto, to satisfy the requirements and guarantee completion of the conditional approval of said CUP application. NOW,THEREFORE, in consideration of the mutual covenants and conditions contained herein, it is hereby agreed as follows: 1. Requirement The Property Owner is responsible for providing three (3) lots with constructed dwelling units within the Creekwood Subdivision for use as affordable housing. The Property Owner agrees that this requirement shall be limited in the following manner. 1. The Property Owner shall provide the equivalent of three(3)affordable lots with constructed dwelling units within the Creekwood Subdivision. 2. The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 120% of the Area Median Income. Documentation of this calculation shall be dated not sooner than 60 days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision to the City of Bozeman, and therefore may equal up to but not exceeding a total of 6 lots in the Creekwood Subdivision. 4. If the Property Owner selects an option with an appraisal requirement, the Property Owner shall provide appraisals from a certified real estate appraiser. The appraisal fee shall be the responsibility of the Property Owner. The appraisal shall be conducted not sooner than 60 days from the submittal. 5. The Property Owner shall be responsible for all costs associated with escrow, including but not limited to maintaining and managing the escrow account,costs for disbursing the deeds, charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, closing escrow and other costs. 6. This agreement shall be fully completed within 18 months of Final Plat approval. Creekwood PUD Affordable Housing #Z-05085 Page 2 of 7 2245091 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Page: 3 of 7 IIIIII IIII III IIII 10/16/2006 1 0.56A Shelley Vance-Gallatin Co MT MISC 49.00 2. Options The following options shall be available to the Property Owner on an equivalent value (lot for lot, dwelling unit for dwelling unit) basis in fulfillment of the above described affordable housing conditions. 1. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman, and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement, "acceptable to the City of Bozeman" shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, as defined in Section 1, paragraph 2 above. 3. The Property Owner shall market for sale, and make all reasonable efforts to sell, to an income qualified individual, an affordable lot with constructed dwelling unit within the Creekwood Subdivision with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual. In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual. If said unit has failed to sell to an income-qualified individual within 6 months after completion, said unit may then be sold without deed restriction and the Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 4. The Property Owner shall market for sale, and make all reasonable efforts to sell, to an income qualified individual, an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision.In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion, said unit may then be rented to an income-qualified individual. If said unit has failed to sell to an income-qualified individual within 6 months after completion,said unit may then be sold without deed restriction and the Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, as defined in Section 1, paragraph 2 above. Creekwood PUD Affordable Housing #Z-05085 Page 3 of 7 • '� 22450, 1 IIIII)IIIII IIIII(IIIII IIIII(III IIIIIII III IIIII JAI Page: 0/16/2006 10:56A Shelley Vance-Gallatin Cc MT MISC 49.00 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owner shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded lot(s) and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 7. The Property Owner shall deed an affordable lot to the Promisco Family Trust with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual.The Trust will then build a dwelling unit and sell the unit to an income-qualified individual. The Trust may hold the mortgage for said individual. The Trust will be responsible for providing annual recertification of the homeowner to HRDC. 3. Phasing Based on fulfillment of the affordable housing requirements,the following phasing shall be in force. 1. Upon approval of the Final Plat: • 39 unrestricted building permits may be issued. • 3 building permits restricted to Lots 32, 39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37,38,39,40, 52,and 53 may not be sold and the deeds shall be held in escrow by a neutral third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman.These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. The Property Owner shall have the option of providing alternative security to be used as the financial guarantee, provided the method, terms and amount of security are approved by the City. • This agreement shall restrict the issuing of building permits on lots 3, 8, 17, 24, 34, 37,38,40,44,45,and 53.A notice of building permit restriction will be recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. 2. A proportionate share of the restricted lots will be released for building permits and/or sale in relation to partial completion of this agreement. 3. This agreement shall be fully completed within 18 months of Final Plat approval. 4. If Lots 32, 39 or 52 have not been utilized for deed restricted affordable dwelling units in completion of this agreement, then the City of Bozeman will lift the requirement for those lots to be used as such. 4. Default If the Property Owner should default or fail to fully perform any of its obligations in conformance with the time schedule under this Agreement,and such default or failure shall continue for a period of thirty(30) days after written notice specifying the default is deposited in the United States mail addressed to the Property Owner at Oakwood Properties, LLC (Kelly Tylor), 607 Professional Creekwood PUD Affordable Housing #Z-05085 Page 4 of 7 IIIIII IIIII IIIII IIIIII IIIIIIIIIIIIIIII III III�I !I 2245O91Q Shelley Vance-Gallatin Cc MT MISC 49.00 Drive, Suite 3,Bozeman,MT 59718, or such other address as the Property Owner shall provide to the City from time to time, without being completely remedied, satisfied, and discharged, the City i may elect to enforce any of the following specified remedies: a. The City may,at its option,declare the financial guarantee to be forfeited at a rate of 2 lots for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, and,shall secure the title of up to but not exceeding 6 lots. b. The City may enforce any other remedy provided by law. 5. Governing Law and Venue ! This Agreement shall be construed under and governed by the laws of the State of Montana. In the event of litigation concerning this Agreement, venue is in the Eighteenth Judicial District Court, Gallatin County, State of Montana. 6. Attorney's Fees In the event it becomes necessary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then Ithe prevailing party shall be entitled to reasonable attorney's fees and costs,, including fees,salary and costs of in-house counsel including City Attorney. 7. Modifications or Alterations I No modifications or amendment of this Agreement shall Ve valid,unless agreed to in writing by the parties hereto. 8. Invalid Provision l The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. ! 9. No Assignment The responsibilities and benefits of this Agreement to the Property Owners may not be assigned without the express written approval of the City. Such approval may not be withheld unreasonably, but any unapproved assignment is void. There is no prohibition on the right of the City to assign its rights under this Agreement.The City shall release the original Property Owners from their liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors j Creekwood PUD Affordable Housing #Z-05085 Page 5 of 7 T 2245091 II IIIII IIIII IIIII IIIIII IIIII IIII IIIIIII III�II IIII Page:0/16/2006 10:56A Shelley Vance-Gal.latin Co MT MISC 49.00 Except as provided in paragraph 9,this Agreement shall be binding upon,inure to the benefit of,and be enforceable by the parties hereto and their respective heirs, successors and assigns. 11. Filing The Property Owner shall have this Agreement recorded in the Office of the Gallatin County Clerk and Recorder at the same time the Final Plat is filed. DATED THIS o DAY OF ,�/A—` 2006. PROPERTY OWNE O od rop ies, LLC By Kell Taylor, Managing Member STATE OF ) �, l :ss County of Ci-dt � ) On this (o f*-- day of (i Q�� , 2006, before me, the undersigned, a Notary Public for the State of Montana,personally appeared Kelly Taylor,known to me to be the Managing Member, Oakwood Properties, LLC, the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said company. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and.year first above written. (Signature above) (Printed Name above) Notary Public for State of Montana 1 c Residing at: Il)'t� 7 Commission Expires: (Use 4 digits for expiration year) THE FITY OF BOZEMAN zkf Creekwood PUD Affordable Housing #Z-05085 Page 6 of 7 2245091 ; ` I IIIIII IIIII(IIII IIIIII(IIII 11111F4 111.1111 Jill Page: 0/16/200610:56A ' Sheller Vance-Gallatin Co MT MISC 49.0.0 Andrew C. Epple, AICP Planning Director STATE OF MONTANA ) :ss County of Gallatin ) On this day of 2006, before me, a Notary Public for the State of Montana,personally appeared Andrew C. Epple,AICP,known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. :a..• ,. _, (Signature above) (Printed Name above) �f ` Notary Public for State of Montana Residin at: Commission Expires: 3 Z2- 0 '7 C) (Use 4 digits for expiration year) 41 Creekwood PUD Affordable Housing #Z-05085 Page 7 of 7 II ll ll`` `` ll ll ll Page: 1 of 3 2266431 ?.1` II .I�III IIIII III�I�II�I'll�l�Ilill�.11l IIIII IIII I�I�. 05/17/2007 01:44P Inter-office Original to: � �,. Charlotte Mills-Gallatin Co MTMISC 21.00 City of Bozeman y , Planning Department 20 East Olive Street AMENDED AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT,#Z-05085 WHEREAS, OAKWOOD PROPERTIES, LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman,MT 59718,hereinafter called the"Property Owner",and the CITY OF BOZEMAN,a Municipal Corporation of the State of Montana, hereinafter called the "City" entered into an Affordable Housing Agreement dated October 16, 2006, filed as Document No. 2245091; and WHEREAS,the Property Owner desires to replace Lot 17, Creekwod PUD Subdivision,with Lot 30, Creekwod PUD Subdivision in Section 3 Phasing of said agreement; and WHEREAS, the City agrees that Lot 17, Creekwod PUD Subdivision, can be replaced by Lot 30, Creekwod PUD Subdivision in said agreement in Section 3 Phasing as follows; and 3. Phasing Based on fulfillment of the affordable housing requirements,the following phasing shall be in force. 1. Upon approval of the Final Plat: • 39 unrestricted building permits may be issued. • 3 building permits restricted to Lots 32, 39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37; 38, 39,40, 52,and 53 may not be sold and the deeds shall be held in escrow by a neutral third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman. These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. • This agreement shall restrict the issuing of building permits on lots 3, 8, 24, 30, 34, 37, 38, 40, 44, 45, and 53. A notice of building permit restriction will be recorded on these lots.These lots shall be released from Creekwood PUD Affordable Housing Amendment #Z-05085 Page 1 of 3 building permit restriction proportionate to the fulfillment of the affordable housing requirements. '1 a qt a THEREFORE,the Property Owner shall have this amendment to Agreement recorded in the Office LO N N of the Gallatin County Clerk and Recorder. a DATED THIS 30"' DAY OF 6, ,,'/ ,2007. a � N PROPERTY O R O&kood rop aes, LLC By Kelly aylor, Managing Member STATE OF :ss County of ) r On this day ofI , 2007, before me, the undersigned, a Notary " Public for the State of Montana,personally appeared Kelly Taylor,known to me to be the Managing Member, Oakwood Properties, LLC, the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said company. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. (Si ature a ) (Seal) (Printed Nat4ie above) Notary Public for State of Montana KE rl Residing at: g T •NNF''% Commission Expires: i2 1 D ��•N O TA R/ ' �,c% (Use 4 digits or expiration year) ' -- �� M= Z, Nam`• S ••'k` THE CITY OF BOZEMAN OF MO Chris Saunders, AICP Assistant Planning Director STATE OF MONTANA ) Creekwood PUD Affordable Housing Amendment #Z-05085 Page 2 of 3 :ss County of Gallatin ) V-w a On this day of AM7,1 2007, before me, a Notary Public for the State of (D L0 m N Montana,personally appeareg Chris Saunders,AICP,known to me to be the person described in and (4 m� who executed the foregoing instrument as Assistant Planning Director of the City of Bozeman, a N a whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. N IN WITNESS WHEREOF,I have hereunto set my hand.and affixed my seal on the day and year first written above. - E - H E O � U � y (S.. a e ab- e) ro ro N (Seal) (Printed N4he above) Notary Public fjor State of Montana �■ �, Residing at: 'Yv ``�����nnnur►,,,/� Commission Expires: l D P��l KEN/v�y,��' (Use 4 digits tor ex iration year) * SK Creekwood PUD Affordable Housing Amendment #Z-05085 Page 3 of 3 3-444 Inter-office to II�IIIIIIIII�UIIII�III��Illllllllll�llll IIIIIIIIIIIII 224rJ091 p city or Bozeman 5h.11ar Y—n GnIWLn Go Hr nIsc 49.00 Planning Department 20 East Olive Street AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT,#2r05085 THIS AGREEMENT is made and entered into this /lo day of vl�y 2006, by and between Oakwood Properties. LLC (Kelly Taylor). 607 Profcssional Drive, Suite 3, Bozeman, MT 59718, hereinafter called the "Property Owner", and the City of Bozeman, a Municipal Corporation and political subdivision of the State of Montana,with offices at 411 East Main Street,P.O.Box 1230,Bozeman,MT 59771-1230,hereinafter called the"City". WHEREAS,the undersigned Property Owner acknowledges the receipt of a Conditional Use Permit(CUP)for a Planned Unit Development(PUD)from the City of Bozeman to establish a unified development plan of a 37.66 acre subdivision for the development of 53 single-household lots with the following requested relaxation from the City of Bozeman Municipal Code:Section 18.16.040.13 Lot Area for R-S Residential Suburban Lots to allow a 30 percent density bonus as permitted under Section 18.36.090.E. WHEREAS,the subject property is legally described as the E'/2,SE'/4 of Section 32,TI S, R6E,PMM,City of Bozeman,Gallatin County,Montana;and WHEREAS,the CUP granted a density bonus in exchange for the following two Affordable Housing conditions: 1. In exchange for the requested density bonus the Property Owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. Creek�vood PUD Affordable Housing t1Z-05085 Page i of 7 t I t I IIIIIIIIIIIIIIIIIIIII)IIIIIIIIIIIOIIIIIIIIIIIIIIIIIII 2 2-f 7 q Shelley Vanoe-Gallatin Cc NT Ii1SC 49.00 2. The Final PUD Plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus,agreeable to the City of Bozeman,with input from the HRDC. At a minimum,the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listed as party to the restriction. WHEREAS,the Property Owner wishes to receive approval of the final PUD plan,final plat,and to obtain building permits. WHEREAS,it is the intent and purpose of both the Property Owner and the City to hereby enter into an Agreement which will guarantee the full and satisfactory completion of the required conditions described herein;and it is the intent of this Agreement,and of the parties hereto,to satisfy the requirements and guarantee)completion of the conditional approval of said CUP application. I NOW,THEREFORE,in consideration of the mutual covenants and conditions contained herein,it is hereby agreed as follows: 1.Requirement The Property Owner is responsible for providing three(3) lots with constructed dwelling units within the Creekwood Subdivision for use as affordable housing.The Property Owner agrees that this requirement shall be limited in the following manner. 1. The Property Owner shall provide,the equivalent of three(3)affordable lots with constructed dwelling units within the Creekwood Subdivision. 2. The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 120%of the Area Median Income.Documentation of this calculation shall be dated not sooner than 66,days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision to the City of Bozeman,and therefore may equal up to but not exceeding a total of 6 lots in the Creekwood Subdivision. 4. If the Property Owner selects an option with an appraisal requirement,the Property Owner shall provide appraisals from a certified real estate appraiser.The appraisal fee shall be the responsibility of the Property Ot i ner. The appraisal shall be conducted not sooner than 60 days from the submittal. 5. The Property Owner shall be responsible for all costs associated with escrow,including but not limited to maintaining and managing the escrow account,costs for disbursing the deeds, charges for real estate commissions, loan payoffs,title insurance,taxes,recording fees, closing escrow and other costs. 6. This agreement shall be fully completed within 18 months of Final Plat approval. Creekwood PUD Affordable Housing NZ-0506 Page 2 of 7 I i I i i - i i I I 1 I�flll�IIII Ilill(II�II�III�Ills IIII�I III Illil IIII Ilil 2 e: 3 of 7 Q Shelley Vanee-0allatin 0o Mr misc 09.00 2.Options The following options shall be available to the Property Owner on an equivalent value(lot for lot, dwelling unit for dwelling unit) basis in fulfillment of the above described affordable housing conditions. 1. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman,and will provide cashiin lieu for the shortfall between the appraisal of the deeded property and the equivalent value ofan affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, as defined in Section 1, paragraph 2 above. 3. The Property Owner shall market for sale,and make all reasonable efforts to sell,to an income qualified individual,an affordable lot with constructed dwelling unit within the Creekwood Subdivision with a deed restriction on the property for a minimum of20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual. In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual. If said unit has failed to sell to an income-qualified individual within 6 months after completion, said unit may then be sold without deed restriction and the Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 1 4. The Property Owner shall market for sale,and make all reasonable efforts to sell,to an income qualified individual,an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City ofBozeman with a deed restriction on the property for a minimum of20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision.In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual.If said unit has failed to sell to an income-qualified individual within 6 months after completion,said unit may then be sold without deed restriction and the Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall mean that the value of thc affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision,as defined in Section 1,paragraphi2 above. Creekwood PUD Affordable Housing aZ-05085 Page 3 of 7 I f I I I 1 I I I • 1 , III II IIIII IIIII IIIII�IIII II��Illliil III 6illl�[II IIII 2245092; Q Sha114V Van -Callan.Co Hr MISC 49.00 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owner shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded lot(s)and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 7. The Property Owner shall deed an affordable lot to the Promisco Family Trust with a deed restriction on the property for aminimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual.The Trust will then build a dwelling unit and sell the unit to an income-qualified individual.The Trust may hold the mortgage for said individual,The Trust will be responsible for providing annual recertification of the homeowner to HRDC. 3.Phasing Based on fulfillment of the affordable hdusing requirements,the following phasing shall be in force. 1. Upon approval of the Final Plat. • 39 unrestricted building permits may be issued. • 3 building permits restricted to Lots 32,39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37,38,39,40,52,and 53 may not be sold and the deeds shall be held in escrow by a neutral third party it�order to be used as the financial guarantee in ful fillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman.These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. The Property Owner shall have the option of providing alternative security to be used as the financial guarantee,provided the method,terms and amount of security are approved by the City. • This agreement shall restrict the issuing of building permits on lots 3,8,17,24,34, 37,38.40,44,45,and 53.A notice of building permit restriction will be recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. 2. A proportionate share of the restricted lots will be released for building permits and/or sale in relation to partial completion of this agreement, 3. This agreement shall be fully completed within 18 months of Final Plat approval. 4. If Lots 32,39 or 52 have not been utilized for deed restricted affordable dwelling units in completion of this agreement,then the City of Bozeman will lift the requirement for those lots to be used as such. 4.Default if the Property Owner should default or fail to fully perform any of its obligations in conformance with the time schedule under this Agreement,and such default or failure shall continue fora period of thirty(30)days after written notice specifying the default is deposited in the United States mail addressed to the Property Owner at Oakwood Properties.LLC(Kelly Taylor)-607 Professional Creekwood PUD Affordable Housing NZ-0508I5 Page 4 of 7 I I i� I i I I l I19III IIIII IIIII IIII I�il��IIII IIIII�I III IIIII IIII IIII 2245091q Shallot/Vance—Gallalln Co MT MI9C 49.00 Drive,Suite 3,Bozeman,MT_59718,or such other address as the Property Owner shall provide to the City from time to time,without being completely remedied,satisfied,and discharged,the City may elect to enforce any of the following specified remedies: a. The City may,at its option,declare the financial guarantee to be forfeited at a rate of 2 lots for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, and shall secure the title of up to but not exceeding 6 lots. b. The City may enforce any other remedy provided by law. 5. Governing Law and Venue This Agreement shall be construed under and governed by the laws of the State of Montana. In the event of litigation concerning this Agreement,venue is in the Eighteenth Judicial District Court, Gallatin County,State of Montana. 6. Attorney's Fees In the event it becomes necessary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs,,including fees,salary and costs of in-house counsel including City Attorney. 7. Modifications or Alterations i No modifications or amendment of this Agreement shall be valid,unless agreed to in writing by the i parties hereto. 8. Invalid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement!shall be construed in all respects as if such invalid or unenforceable provision were omitted. 9. No Assignment The responsibilities and benefits of this Agreementto the Property Owners may not be assigned without the express written approval of the City.Such approval may not be withheld unreasonably, but any unapproved assignment is void.There is no prohibition on the right of the City to assign its rights under this Agreement.The City shall release the original Property Owners from(heir liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors Creekwood PUD Affordable Housing HZ-05085 Page 5 of 7 ! ! Y ' 1110liillllllll�il 1111i1111 iN III iill 111111 lot l91p 6hollay Vane.-Galtatln Co MT MISC 49.00 Except as provided in paragraph 9,this Agreement shall be binding upon,inure to the benefit of,and be enforceable by the parties hereto and their respective heirs,successors and assigns. 11.Filing The Property Owner shall have this Agreement recorded in the Office of the Gallatin County Clerk and Recorder at the same time the Final Plat is filed. DATED THIS �� DAY OF 2006. PROPERTY OWNS O od rop i s,LLC By Ke11 Taylor,Managing Member STATE OFA .ci ) s County of On this t(6(-- day of f t UP<Y-- 2006,before me,the undersigned,a Notary Public for the State of Montana,personally appeared Kelly Tavlor,known to me to be the Manaaine Member, Oakwood Properties, LLC.!the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said company. I IN WITNESS WHEREOF,I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. I i (Signature above) 6t�nL4 (Printed Name above) Notary Public for State of Montana yResiding at: i0oyig AAof — _ Commission Expires: +' a (Use 4 digits for expiration year) Tl3E ITY F BOZEMAN Creekwood PUD Affordable Housing #Z-05085 Poge 6 of 7 I I I i i l Y IIIIII�IIIIIIIIII�I�IIIIIIIIII�IIIII�lllll�lllllillll�i 2245091Q 9hclley Vanc0 Gallatln ro Ar nl5a 49.00 Andrew C.Epple,AICP Planning Director STATE OF MONTANA ) :ss County of Gallatin ) On this day of a h a--t 2006,before me,a Notary Public for the State of Montana,personally appeared Andrew C.Epple,AICP,known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman,whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my seal on the day and year first written above. (Si attire above) 14 kw GVP G 11 vim_ [Sea j0 , fin` (Printed Name above) -k •, ci+ Notary Public or State of Montana y m rI Residing at: Commission Expires: 312-?:;�Zou 7 (Use 4 digits for expiration year) Creekwood PUD Affordable Housing NZ-05085 Page 7 of 7 f Inter-office Ori ing al to: City of Bozeman Planning Department 20 East Olive Street AMENDED AFFORDABLE HOUSING CONDITIONS OF APPROVAL,RELEASE,AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT,#Z-05085A J THIS AGREEMENT is made and entered into this S4" day of , 2012, by and between, First Interstate Bank (Matt Johnson), 202 West Main Street, zeman UW MT 59715; and Clint Lo;Oman, 401 Park Place, Bozeman MT 59715, hereinafter collectively y called the "Property Owner", and the City of Bozeman, a Municipal Corporation and political �- subdivision of the State of Montana, with offices at 411 East Main Street, P.O. Box 1230, Bozeman, MT 59771-1230, hereinafter called the "City". WHEREAS, Oakwood Properties, LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman, MT 59718, and the CITY OF BOZEMAN, a Municipal Corporation of the State of Montana, hereinafter called the "City"...entered into an Affordable Housing Agreement dated October 16, 2006, filed as Document 146' . 2245091 to meet the terms of application Z-05085; and o� WHEREAS, the subject property is legally described as Creekwood Subdivision located in the �£ E'i2, SE'/4 of Section 32, T1 S, R6E, PMM, City of Bozeman, Gallatin County, Montana; and WHEREAS, Oakwood Properties, LLC filed the final plat; and WHEREAS, the original CUP approved under Z-05085 granted a density bonus in exchange for ate= the following two Affordable Housing conditions: 1. In exchange for the requested density bonus the Property Owner.shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. N� 2. The Final PUD Plan shall address the means by which the affordable housing will be N N� ��- provided to mitigate the proposed density bonus, agreeable to the City of Bozeman, with input from the HRDC. At a minimum, the method of donation shall be proportionately '= ®� = Creekwood PUD Affordable Housing Amendment #Z-05085 N Page 1 of 9 N°r=ace— dispersed with the number of building permits released and the units shall be deed restricted with the City listed as party to the restriction. WHEREAS, Document 2245091 was recorded on October 16, 2006 to document certain required compliance with conditions of approval for the Creekwood Planned Unit Development; and WHEREAS, Document 2266431 was recorded on June 17, 2007 which amended Document 2245091; and WHEREAS, a home was built on Lot 32 which met the requirements of the agreement recorded in Documents 2245091 and 2266431 and therefore by the terms of the agreement certain restrictions were lifted on other lots; and WHEREAS, Property Owner is the successor in interest to the remaining lots restricted under the terms of the agreement filed as Document No. 2245091 and as amended; and WHEREAS, the City agreed to amend the terms of the approval for the Creekwood PUD Subdivision to remove the deed restriction and change the price threshold through application Z- 05085A and which conditions now read: 1. The final PUD application shall include an updated agreement to implement Option 3 of the alternates proposed by the applicant to reduce the price for the homes subject to the agreement to not exceed a price which can be paid using 30% or less on an income of 100%AMI and removing the requirement for a 20 year deed restriction. The remaining components of the agreement shall remain as presently constituted except where necessary to implement Option 3. The agreement shall be executed and recorded with the Gallatin County Clerk and Recorder prior to issuance of any building permit for the restricted lots. 2. Revised Condition 1. In exchange for the requested density bonus the property owner shall ensure compliance with affordable housing standards for development of the three affordable lots noted on the plan. 3. Revised Condition 6. The final PUD plan shall address the means revise the agreement by which the affordable housing will be provided to mitigate the proposed density bonus agreeable to the City of Bozeman and the CA14AB. A* a m;ni ff,,.,r the The method of donation distribution shall be proportionately dispersed with the number of building permits released And the i —its sha4l by deed restfieted 3A4th the City listed ., afty to the ..on tfie*ie WHEREAS, it is the intent and purpose of both the Property Owner and the City to hereby enter into an Agreement which will guarantee the full and satisfactory completion of the required conditions described herein; and it is the intent of this Agreement, and of the parties hereto, to satisfy the requirements and guarantee completion of the conditional approval of said CUP application. THEREFORE, the terms in the Creekwood PUD Subdivision affordable housing performance agreement are modified to reflect the work to date and the revised conditions and the agreement originally recorded as Document No. 2245091 and as amended is superseded in its entirety and Creekwood PUD Affordable Housing Amendment #Z-05085A Page 2 of 9 shall now read follows: 1. Requirement The Property Owner is responsible for providing three (3) lots with constructed dwelling units within the Creekwood Subdivision for use as affordable housing. The Property Owner agrees that this requirement shall be limited in the following manner. 1. The Property Owner shall provide the equivalent of three (3) affordable lots with constructed dwelling units within the Creekwood Subdivision. 2. Should the Property Owner choose an option other than construction of affordable homes, the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 100% of the Area Median Income. Documentation of this calculation shall be dated not sooner than 60 days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision to the City of Bozeman, and therefore may equal up to but not exceeding a total of 6 lots in the Creekwood Subdivision. 4. If the Property Owner selects an option with an appraisal requirement, the Property Owner shall provide appraisals from a certified real estate appraiser. The appraisal fee shall be the responsibility of the Property Owner. The appraisal shall be conducted not sooner than 60 days from the submittal and shall be finally confirmed prior to the issuance of a certificate of occupancy from the City of Bozeman. 5. The Property Owner shall be responsible for all costs associated with escrow, including but not limited to maintaining and managing the escrow account, costs for disbursing the deeds, charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, closing escrow and other costs. 6. This agreement shall continue until the required number of affordable homes or their equivalent have been provided. When the agreement has been completed a release from the agreement shall be provided by the City for recording at the Gallatin County Clerk and Recorder. 2. Options The following options shall be available to the Property Owner on an equivalent value (lot for lot, dwelling unit for dwelling unit) basis in fulfillment of the above described affordable housing conditions. 1. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman, and will provide cash in lieu for the shortfall between the appraisal of the Creekwood PUD Affordable Housing Amendment #Z-05085A Page 3 of 9 deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 3. The Property Owner shall sell an affordable lot with constructed dwelling unit within the Creekwood Subdivision for a combined price not to exceed a price which can be paid using 30% or less on an income of 100% Average Median Income for a four person household. 4. The Property Owner shall sell to an income qualified individual an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman for a combined price not to exceed a price which can be paid using 30% or less on an income of 100% Average Median Income for a four person household. 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owner shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman, and will provide cash in lieu for any shortfall between the appraisal of the deeded lot(s) and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 7. The Property Owner shall deed an affordable lot to the Promisco Family Trust. The Trust will then build a dwelling unit and sell the unit to an income-qualified individual. The Trust may hold the mortgage for said individual. The Trust will be responsible for providing annual recertification of the homeowner to HRDC. 3. Phasing Based on fulfillment of the affordable housing requirements, the following phasing shall be in force. The phasing below incorporates changes made since the initial agreement. 1. Subsequent to approval of the Final Plat: • 43 unrestricted building permits may be issued. • 1 qualifying home has been constructed on Lot 32 in accordance with Option 7 and additional lots were released accordingly. • 2 building permits restricted to Lots 39 and 52 for affordable dwelling units may be issued. • Lots 37, 39, 40, and 52 may not be sold and the deeds shall be held in escrow by a neutral third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman. These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. • This agreement shall restrict the issuing of building permits on lots 25, 26, 37, 40, 44, 48, 49, and 52 except when the permit is in accordance with one of the options in Section 2 of this agreement. A notice of building permit restriction Creekwood PUD Affordable Housing Amendment #Z-05085A Page 4 of 9 will be recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. 2. A proportionate share of the restricted lots will be released for building permits and/or sale in relation to partial completion of this agreement. 3. This agreement shall continue until the required number of affordable homes or their equivalent have been provided. When the agreement has been completed a release from the agreement shall be provided by the City for recording at the Gallatin County Clerk and Recorder. 4. Default If the Property Owner should default or fail to fully perform any of its obligations in conformance with this Agreement, and such default or failure shall continue for a period of thirty (30) days after written notice specifying the default is deposited in the United States mail addressed to the Property Owner at First Interstate Bank (Matt Johnson), 202 West Main Street, Bozeman MT 59715; or Clint Lowman, 401 Park Place, Bozeman MT 59715, or such other address as the Property Owner shall provide to the City from time to time, without being completely remedied, satisfied, and discharged, the City may elect to enforce any of the following specified remedies: a. The City may, at its option, declare the financial guarantee to be forfeited at a rate of 2 lots for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, and shall secure the title of up to but not exceeding 6 lots. b. The City may enforce any other remedy provided by law. 5. Governing Law and Venue This Agreement shall be construed under and governed by the laws of the State of Montana. In the event of litigation concerning this Agreement, venue is in the Eighteenth Judicial District Court, Gallatin County, State of Montana. 6. Attorney's Fees In the event it becomes necessary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs, , including fees, salary and costs of in-house counsel including City Attorney. 7. Modifications or Alterations No modifications or amendment of this Agreement shall be valid, unless agreed to in writing by the parties hereto. 8. Invalid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. Creekwood PUD Affordable Housing Amendment #Z-05085A Page 5 of 9 9. Assignment The responsibilities and benefits of this Agreement to the Property Owners convey with title to those lots listed in this agreement. There is no prohibition on the right of the City to assign its rights under this Agreement. The City shall release the Property Owners from their liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors This Agreement shall be binding upon, enure to the benefit of, and be enforceable by the parties hereto and their respective heirs, successors and assigns. THEREFORE, the Property Owner shall have this amendment to Agreement recorded in the Office of the Gallatin County Clerk and Recorder. DATED THIS DAY OF L ti� ,2012. i Creekwood PUD Affordable Housing Amendment #Z-05085A Page 6 of 9 PROPERTY OWNER Matt Johnson First Inters Bank STATE OF MONTANA) :ss County of Gallatin ) On this ` day of , 2012, before me, the undersigned, a Notary Public for the State of Montana, p sonally appeared Matt Johnson, known to me to be a representative of First Interstate Bank, the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said company. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. &ZOL (Signature above4, ( e VAQ� Dana L.-Aughney (Printed Name above) .` P Notary Public ao-CARIgj. 1_for the state of Montana Notary Public for State of Montana Residing at: n =N.SEAL. �f Bozeman,Montana Residing at: ,p _% Prr My Commi don Expires: July 113,2014 Commission Expires: -" (Use 4 digits for expiration year) Creekwood PUD Affordable Housing Amendment #Z-05085A Page 7 of 9 PROPERTY OWNER Clint Lohman STATE OF MONTANA) :ss County of Gallatin ) On this 5�111 day of c?© - , 2012, before me, the undersigned, a Notary Public for the State of M ntana, personally appeared Clint Lohman, known to me to be the person that executed the within instrument, and acknowledged to me that he executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. ,oi�eeoaaaae®ses®�•'�.,a,•� (Signature above) Ka�i�Uty � TAR/ 4'. (Printed Name above) '. S Notary Public for State of Montana �,, � -... .• �'��� Residing at: is 0Z�lvl,4� OF NO 11110000 Commission Expires: O l a ' 02 01 3 (Use 4 digits for expiration year) Creekwood PUD Affordable Housing Amendment #Z-05085A Page 8 of 9 , r �U 7 CI OF BOZEMAN im arg Planning Director STATE OF MONTANA ) :ss County of Gallatin ) On this day of �' , 2012, before me, a Notary Public for the State of Montana, personally appeared T m McHarg, known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. (Signature above) Helene Greninger ���h� 'Fad' Notary Public iv' TAR :9=for the State of Montana Residing at: (Printed Name above) , .SEA .'Q; Bozeman, Montana ,NF• My Commission Expires: Notary Public for State of Montana `< Mo�V,. March 25,2015 Residing at: 7�✓►-uc Commission Expires: 141«k-ych 2 S'„ 20j s (Use 4 digits for expiration year) Creekwood PUD Affordable Housing Amendment #Z-05085A Page 9 of 9 Inter-office Ori inal to: City of Bozeman Planning Department 20 East Olive Street gip...- � Ew. 1MR1 24219.7:6 _: - - 1 Page: 1 of 7 07/27/2012 04:43:27 PM Fee: $49.00 11 Charlotte Mill - Gallatin County, MT MISC ! 111111 III �� I111111IIII11 N 11111111111111111111111111111111111111 IN AMENDED AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT, #Z-05085A THIS AGREEMENT is made and entered into this �7 day of 1e-� , 2012, by and between, Trevor Michael Promisco, 2348 Boylan Road, Bozeman MI, 59715, hereinafter called the "Property Owner", and the City of Bozeman, a Municipal Corporation and political subdivision of the State of Montana, with offices at 411 East Main Street, P.O. Box 1230, Bozeman, MT 59771-1230, hereinafter called the "City". WHEREAS, Oakwood Properties, LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman, MT 59718, and the CITY OF BOZEMAN, a Municipal Corporation of the State of Montana, hereinafter called the "City" entered into an Affordable Housing Agreement dated October 16, 2006, filed as Document No. 2245091 to meet the terms of application Z-05085; and WHEREAS, the subject property is legally described as Creekwood Subdivision located in the E',/z, SE'/ of Section 32,,T1 S, R6E, PMM, City of Bozeman, Gallatin,County, Montana; and WHEREAS, Oakwood Properties, LLC filed the final plat; and WHEREAS, the original CUP approved under Z-05085 granted a density bonus in exchange for the following two Affordable Housing conditions: 1. In exchange for the requested density bonus the Property Owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. 2. The Final PUD Plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus, agreeable to the City of Bozeman, with input from the HRDC. At a minimum, the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listed as party to the restriction. Creekwood PUD Affordable Housing Amendment #Z-05085 Page 1 of 7 WHEREAS, Document 2245091 was recorded on October 16, 2006 to document certain required compliance with conditions of approval for the Creekwood Planned Unit Development; and WHEREAS, Document 2266431 was recorded on June 17,.2007 which amended Document 2245091; and WHEREAS, The Promisco Family Trust built a home on Lot 32 which met the requirements of the agreement recorded in Documents 2245091 and 2266431 and therefore by the terms of the agreement certain restrictions were lifted on other lots; and WHEREAS, The Promisco Family Trust sold the home on Lot 32 to Trevor Michael Promisco, a qualified person by deed recorded as Document 2348111; and WHEREAS, the City agreed to amend the terms of the approval for the Creekwood PUD Subdivision to remove the deed restriction and change the price threshold through application Z- 05085A and which conditions now read: 1. The final PUD application shall include an updated agreement to implement Option 3 of the alternates proposed by the applicant to reduce the price for the homes subject to the agreement to not exceed a price which can be paid using 30% or less on an income of 100%AMI and removing the requirement for a 20 year deed restriction. The remaining components of the agreement shall remain as presently constituted except where necessary to implement Option 3. The agreement shall be executed and recorded with the Gallatin County Clerk and Recorder prior to issuance of any building permit for the restricted lots. 2. Revised Conditions 1. In exchange for the requested density bonus the property owner shall ensure compliance with Seetion 18.36.090.E fe affordable housing standards for development of the three affordable lots noted on the plan. 3. Revised Condition 6. The final PUD plan shall address the Means revise the agreement by which the affordable housing will be provided to mitigate the proposed density bonus agreeable to the City of Bozeman and the C^14AB At a minimem th The method of donation distribution shall be proportionately dispersed with the number of building permits released and the• ~its shall be deed ~estiie`ed With the - City sty listed a .,fty to the feet-ie WHEREAS, it is the intent and purpose of both the Property Owner and the City to hereby enter into an Agreement which will guarantee the full and satisfactory completion of the required conditions described herein; and it is the intent of this Agreement, and of the parties hereto, to satisfy the requirements and guarantee completion of the conditional approval of said CUP application. THEREFORE, the terms in the Creekwood PUD Subdivision affordable housing performance agreement are modified to reflect the work to date and the revised conditions and the agreement originally recorded as Document No. 2245091 and as amended is superseded in its entirety and shall now read follows: Creekwood PUD Affordable Housing Amendment #Z-05085A Page 2 of 7 1. Requirement The :Property Owner was responsible for providing one (1) of the three(3) lots with constructed dwelling units within the Creekwood Subdivision for use as affordable housing. The original action by the Property Owner was subject to the follow six restrictions at the time of the original affordable housing agreement which had a greater scope than the current property owner. 1. The Property Owner shall provide the equivalent of three (3) affordable lots with constructed dwelling units within the Creekwood Subdivision. 2. The equivalent value of an affordable lot with constructed dwelling unit within the . Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 100% of the Area Median Income. Documentation of this calculation shall be dated not sooner than 60 days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision to the City of Bozeman, and therefore may equal up to but not exceeding a total of 6 lots in the Creekwood Subdivision. 4. If the Property Owner selects an option with an appraisal requirement, the Property Owner shall provide appraisals from a certified real estate appraiser. The appraisal fee shall be the responsibility of the Property Owner. The appraisal shall be conducted not sooner than 60 days from the submittal and' shall be finally confirmed prior to the issuance of a certificate of occupancy from the City of Bozeman. 5. The Property Owner shall be responsible for all costs associated with escrow, including but not limited to maintaining and managing the escrow account, costs for disbursing the deeds, charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, closing escrow and other costs. 6. This agreement shall continue until the required number of affordable homes or their equivalent have been provided. When the agreement has been completed a release from the agreement shall be provided by the City for recording at the Gallatin County Clerk and Recorder. 2. Options The following options shall be available to the Property Owner on an equivalent value (lot for lot, dwelling unit for dwelling unit) basis in fulfillment of the above described affordable housing conditions. 1. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman, and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. Creekwood PUD Affordable Housing Amendment #Z-05085A Page 3 of 7 3. The Property Owner shall sell an affordable lot with constructed dwelling unit within the Creekwood Subdivision for a combined price not to exceed a price which can be paid using 30% or less on an income of 100% Average Median Income. 4. The Property Owner shall sell to an income qualified individual an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman for a combined price not to exceed a price which can be paid using 30% or less on an income of 100% Average Median Income. 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owner shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman, and will provide cash in lieu for any shortfall between the appraisal_ of the deeded lot(s) and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 7. The Property Owner shall deed an affordable lot to the Promisco Family Trust. The Trust will then build a dwelling unit and sell the unit to an income-qualified individual. The Trust may hold the mortgage for said individual. The Trust will be responsible for providing annual recertification of the homeowner to HRDC. 3. Phasing Based on fulfillment of the affordable housing requirements, the following phasing shall be in force. The phasing below incorporates changes made since the initial agreement. • Subsequent to approval of the Final Plat the Property Owner constructed 1 qualifying home on Lot 32 in accordance with Option 7. • Additional lots were released accordingly. • The remaining number of homes and lots are not the responsibility of this Property Owner. 4. Default The Property Owner has conformed to the terms of this agreement. 5. Governing Law and Venue This Agreement shall be construed under and governed by the laws of the State of Montana. In the event of litigation concerning this Agreement, venue is in the Eighteenth Judicial District Court, Gallatin County, State of Montana. 6. Attorney's Fees In the event it becomes necessary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs, , including fees, salary and costs of in-house counsel including City Attorney. 7. Modifications or Alterations Creekwood PUD Affordable Housing Amendment #Z-05085A Page 4 of 7 No modifications or amendment of this Agreement shall be valid, unless agreed to in writing by the parties hereto. 8. Invalid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 9. Assignment The responsibilities and benefits of this Agreement to the Property Owners convey with title to those lots listed in this agreement. There is no prohibition on the right of the City to assign its rights under this Agreement. The City shall release the Property Owners from their liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors This Agreement shall be binding upon, enure to the benefit of, and be enforceable by the parties hereto and their respective heirs, successors and assigns. THEREFORE, the Property Owner shall have this amendment to Agreement recorded in the Office of the Gallatin County Clerk and Recorder. ; DATED THIS Z, DAY OF 2012. i i I I i Creekwood PUD Affordable Housing Amendment #Z-05085A Page 5 of 7 i PROPERTY OWNER w few- Trevor Michael(Promisco STATE OF MONTANA) :ss County of Gallatin ) On this day of , 2012, before me, the undersigned, a Notary Public for the State of Montan , personally appeared Trevor Michael Promisco and acknowledged to me that he executed the same. .—�� Va✓ M ��rp,M � IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. (Signature above) H RZ „ Kris Harriman\5 ' Ri Notary Public k4 2 ,OTARr44'• for the State of Montana (S —— *_ Residing at: (Printed Name above) N�.SEAL. Q; Bozeman, Montana _ My Commission Expires: Notary Public for State of Montana August 12,2014 Residing at: 1�U7Q N`nC� Commission Expires: O:Z, V, Z n (Use 4 digits for expiration year) Creekwood PUD Affordable Housing Amendment #Z-05085A Page 6 of 7 %TH I�'>�Y OF BOZEMAN 1,� Tim Mc g Plann' g Director STATE OF MONTANA ) :ss County of Gallatin ) On this -7 7t-�'day of JkJw 2012, before me, a Notary Public for the State.of Montana, personally appeare Tim McHarg, known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. pq Helene Greninger ,_•' !l-�,' Notary Public (Signature above) =:'NOTnRigt:p=_for the State of Montana *: _._ *` Residing at: i''�(� I _h iTi2!'1 O N�.SEAL. Q Bozeman, Montana V `P?` My ComMarch ,2015on ires: (Printed Name above) Notary Public for State of Montana Residing at: ✓J��t�w Commission Expires: C 3/Z S /7 0S (Use 4 digits for expiration year) Creekwood PUD Affordable Housing Amendment #Z-05085A Page 7 of 7 2416085 ---- - �� Inter-office Original to: Page: 1 of 4 05/22/2012 01:29:18 PM Fee: $28.00 City of Bozeman Charlotte Mills - Gallatin County, Mr Mlsc Planning Department I I��III�III��I III�I�I IIIIIII IIIIII III III�iil�III�I IIII�I�III II�I�IIIII III IIII 20 East Olive Street - - - --- - - - — - AMENDED AFFORDABLE HOUSING CONDITIONS OF APPROVAL, RELEASE,AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT, #Z-05085 WHEREAS, First Interstate Bank (Matt Johnson), 202 West Main Street, Bozeman MT 59715; hereinafter collectively called the "Property Owner", and the CITY OF BOZEMAN, a Municipal Corporation of the State of Montana, hereinafter called the "City" entered into an Affordable Housing Agreement dated October 16, 2006, filed as Document No. 2245091; and WHEREAS, Document 2245091 was recorded on October 16, 2006 to document certain required compliance with conditions of approval for the Creekwood Planned Unit Development; and WHEREAS, Document 2266431 was recorded on June 17, 2007 which amended Document 2245091; and WHEREAS, Document 2391593 was recorded on June 17, 2007 which amended Document 2266431; and — WHEREAS, a home was built on Lot 32 which met the requirements of the agreement recorded in Documents 2245091 and 2266431 and therefore by the terms of the agreement certain restrictions are to be lifted on other lots; and WHEREAS, the Property Owner has requested and the City agrees that building permit restrictions be substituted from Lot 38 to Lot 49; and THEREFORE, the terms in the Creekwod PUD Subdivision affordable housing performance agreement in Section 3 Phasing are modified to reflect the work to date and shall read follows; and Creekwood PUD Affordable Housing Amendment #Z-05085 Pagel of 4 3. Phasing Based on fulfillment of the affordable housing requirements, the following phasing shall be in force. 1. Upon approval of the Final Plat: • 43 unrestricted building permits may be issued. • 2 building permits restricted to Lots 3z? 39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37, 39, 40, and 52 may not be sold and the deeds shall be held in escrow by a neutral third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman. These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. • This agreement shall restrict the issuing of building permits on lots 25, 26, 37, 3-9, 40, 44, 48,49 and 52. A notice of building permit restriction will be recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. THEREFORE, the Property Owner shall have this amendment to Agreement recorded in the Office of the Gallatin County Clerk and Recorder. DATED THIS JT*4% DAY OF , 2012. C Creekwood PUD Affordable Housing Amendment #Z-05085 Page 2 of 4 PROPERTY OWNE Matt Johnson First Interstat ank STATE OF MONTANA) :ss County of Gallatin ) On this /_ day of , 2012, before me, the undersigned, a Notary Public for the State of Montana, Oersonally appeared Matt Johnson, known to me to be a representative of First Interstate Bank, the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said company. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. 4 (S'gnature above Dana L.a4ughney (Printed Name above)) Notary Public Notary Public for State of Montana for the State of Montana Y *= —'— * Reslding at: Residing at: ,i/I N�.SEAL.2� Bozeman Montana OF My oommisslon Expires: Commission Exp es: \ July 13,2014 (Use 4 digi's for Apiraion year) Creekwood PUD Affordable Housing Amendment #Z-05085 Page 3 of 4 1 t , THE Y BOZEMAN Tim McHarg Planning Dir ctor STATE OF MONTANA ) :ss County of Gallatin ) On this Z S day of , 2012, before me, a Notary Public for the State of Montana, personally appeared Ti McHarg, known to'me to be the person described in and who executed the foregoing instrumen as Assistant Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. (Si re above) l ` \\\\,,,, LEE (Seal.) Q.P. • . • .N�qs j.,'': (Printed Name above) Notary Public for State of Montana '�:•�OTAR/,�` ;� Residing at: T,%(nRr Y\-o.i/\ SEAL Commission Expires:k-c \ L \ �'� •, . �Q (Use 4 digits for expiration year) Creekwood PUD Affordable Housing Amendment #Z-05085 Page 4 of 4 dt BQZ Ci Commission Memorandum `'rye�.•►��` REPORT TO: Honorable Mayor and City Commission FROM: Chris Saunders, Assistant Director Tim McHarg, Director SUBJECT: Z-05085A, Conditional use permit to amend affordable housing provisions applicable to Creekwood PUD to lower price threshold and remove deed restriction requirement. MEETING DATE: May 14, 2012 AGENDA ITEM TYPE: Action—Quasi-Judicial RECOMMENDATION: Approve application Z-05085A, A Conditional Use Permit to amend the conditions of approval for the Creekwood Planned Unit Development to revise requirements for the provision of affordable housing in conjunction with the development of the Creekwood subdivision with the conditions and code requirements as recommended by Staff. BACKGROUND: The original Creekwood PUD in 2005 requested a density bonus to allow smaller lot sizes which allowed additional lots to be developed. The City Commission imposed the two conditions repeated below relating to the allowed density bonus to ensure that the terms of the PUD approval were met. The housing market has experienced significant change since the Creekwood PUD was originally approved. The cost of housing has declined substantially. On March 30, 2012 an application was received to amend the PUD. The purpose of the amendment is to alter conditions one and six and the requirement that the units be deed restricted. The applicant asserts that with the change in the economy the limitations on financing and opportunity for appreciation arising from the deed restriction make the restricted lots unable to be built. The original agreement allows for the cost of the affordable homes to be at a price which can be paid using 30% or less of an income of up to 120% of the Average Median Income (AMI). The proposed amendment requests to remove the deed restriction requirement and in exchange will establish a lower cost threshold for the homes to not exceed a price which can be paid using 30% or less on an income of 100%AMI. The actual dollar amount represented by the AMI is updated each year as the local economy changes in each county. The proposed amendment also seeks to remove the code reference from condition 1 in favor of the proposed alternative approach. The . same number of homes is proposed to be constructed and will act to provide a greater variety of housing stock within the subdivision. The Community Affordable Housing Advisory Board (CAHAB) met with the applicant and considered the proposed amendment. Draft minutes of their discussion are attached. After 190 considerable discussion and evaluation of the issue the CAHAB recommended approval of application Option 3. UNRESOLVED ISSUES: None ALTERNATIVES: Three alternatives are offered in the application. The Commission may choose to: 1. Deny the application. 2. Approve the application with conditions and code requirements as recommended by Staff which uses alternative 3 from the application. 3. Approve the application using either alternative 1 or 2 from the applicant. 4. Other as identified by the Commission FISCAL EFFECTS: None Attachments: Staff Report,Application materials Report compiled on: May 3, 2012 191 . 0 City Commission Staff Report Por Creekwood PUD amendment CUP File #Z-05085A Item: Z-05085A A Conditional Use Permit to amend the conditions of approval for the Creekwood Planned Unit Development to revise requirements for the provision of affordable housing in conjunction with the development of the Creekwood subdivision. Owner/Applicant/Representative: Andy Ebbigausen, PO Box 930 Manhattan MT 59741 Date: City Commission Meeting, May 14,2012, at 6:00 p.m., in the City Commission Meeting Room, Bozeman City Hall, 121 North Rouse Avenue, Bozeman, Montana. Report By: Chris Saunders, Assistant Director Recommendation: Conditional Approval Project]Location The overall Creekwood PUD is shown in the map below. The affected Lots are 25, 26, 37, 38, 39, 40, 48, and 52 of the Creekwood PUD. The Creekwood PUD is located at the eastern edge of the city adjacent to Bridger Canyon Drive and is in the E'/2, SE'A Section 32, T IS R 6E, City of Bozeman. Subject Property R-1 `' �• County Land h` #Z-05085A Creekwood PUD amendment CUf&aff Report 1 Proposal/Background The original Creekwood PUD in 2005 requested a density bonus to allow smaller lot sizes which allowed additional lots to be developed. The City Commission imposed the two conditions repeated below relating to the allowed density bonus to ensure that the terms of the PUD approval were met. The code reference in the condition below predates the recent codification and reorganization of the municipal code. The referenced section is now found at Section 38.20.090.E.2.a(7). 1. In exchange for the requested density bonus the property owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. 6. The final PUD plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus agreeable to the City of Bozeman and the CAHAB. At a minimum the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listed as party to the restriction. The proposed affordable housing units were a proposed off-set for smaller lot sizes throughout the development. They were NOT used to meet the performance point requirements of presently referenced Section 38.20.090.E.2.a(7). This was specifically identified in the original staff report to the City Commission. The performance point requirement was met through provision of open space along Bridger Creek. Therefore, a change to conditions 1 and/or 6 will not cause the Creekwood PUD to be out of compliance with the municipal code. The original staff report to the Commission for the PUD noted concerns on the part of Staff to have adequate flexibility in administering the condition. An agreement was developed by the Staff and applicant to satisfy these two Commission imposed conditions. The agreement identified which lots were affected by the agreement and provided seven different options to pursue to satisfy the conditions. On October 16, 2006 the agreement was filed at the Gallatin County Clerk and Recorder's office. One- third of the required housing has been completed. The agreement has since been modified to release some lots proportional to the completion per the agreement and to exchange the specific lots which are subject to the agreement. The housing market has experienced significant change since the Creekwood PUD was originally approved. The cost of housing has declined substantially. The cost figures assumed to qualify as affordable housing at the time of the PUD approval is now the equivalent for the market rate similar homes. The application materials provide detail on this calculation. The Planning Director has discussed this changed housing market with the City Commission and the ramification it has had on the viability of deed restrictions in affordable housing programs. The City's work force housing standards which rely on deed restrictions, Chapter 8, Article 8,have been suspended until they can be revised. On March 30, 2012 an application was received to amend the PUD. The purpose of the amendment is to alter conditions one and six and the requirement that the units be deed restricted. The applicant asserts that with the change in the economy the limitations on financing and opportunity for appreciation arising from the deed restriction make the restricted lots unable to be built. The applicant proposes three possible options to revise the agreement which they believe will enable construction of affordable homes to go forward. These options are on page 4 of the application materials. The original agreement allows for the cost of the affordable homes to be at a price which can be paid using 30% or less of an income of up to 120% of the Average Median Income (AMI). The proposed amendment requests to remove the deed restriction requirement and in exchange will establish a lower #Z-05085A Creekwood PUD amendment CUaff Report 2 cost threshold for the homes loot exceed a price which can be paid us* 30% or less on an income of 100%AMI. The actual dollar amount represented by the AMI is updated each year as the local economy changes in each county. The proposed amendment also seeks to remove the code reference from condition 1 in favor of the proposed alternative approach. The same number of homes is proposed to be constructed and will act to provide a greater variety of housing stock within the subdivision. The Community Affordable Housing Advisory Board met with the applicant and considered the proposed amendment. Draft minutes of their discussion are attached. After considerable discussion and evaluation of the issue the CAHAB recommended approval of application Option 3. Recommended Conditions of Approval: Based on the subsequent analysis, the planning staff find that the application, with a condition and code provisions, is in general compliance with the adopted Growth Policy and the City of Bozeman Unified Development Ordinance. Special conditions were identified as necessary for this application by the Staff. Code requirements are identified under review criteria two below. l. The final PUD application shall include an updated agreement to implement Option 3 of the alternates proposed by the applicant to reduce the price for the homes subject to the agreement to not exceed a price which can be paid using 30% or less on an income of 100% AMI and removing the requirement for a 20 year deed restriction. The remaining components of the agreement shall remain as presently constituted except where necessary to implement Option 3. The agreement shall be executed and recorded with the Gallatin County Clerk and Recorder prior to issuance of any building permit for the restricted lots. 2. Revised Condition 1. In exchange for the requested density bonus the property owner shall ensure compliance with Seet:e., 18.36.090.E f-affordable housing standards for development of the three affordable lots noted on the plan. 3. Revised Condition 6. The final PUD plan shall address the f eans revise the agreement by which the affordable housing will be provided to mitigate the proposed density bonus agreeable to the City of Bozeman andthe C^14^B.-e t ^ ,..;n:,,.,,,,f, the The method of denatien distribution shall be proportionately dispersed with the number of building permits release and the, nits shag, be ,seed estf e4ed with the City listed as afty Fe the est:1:666 Conclusion/Recommendation The Staff and CAHAB have reviewed the Creekwood PUD amendment and recommends to the City Commission approval of the application with the conditions and code requirements outlined in this Staff Report. The applicant must comply with all provisions of the Bozeman Unified Development Code, which are applicable to this project, prior to receiving Final Site Plan approval. The applicant is advised that unmet code provisions, or code provisions that are not specifically listed as conditions of approval, does not, in any way, create a waiver or other relaxation of the lawful requirements of the Bozeman Municipal Code or State law. Zoning Designation & Land Uses The affected property is zoned a blend of RS (Residential Suburban district) and R-1 (Residential Single Household Low-Density district). The intent and purpose of the R-S residential suburban district is to allow open space, resource protection and primarily single-household development in circumstances where environmental constraints limit the desirable density. All new subdivision and site plan #Z-05085A Creekwood PUD amendment CUftaff Report 3 developments in this district *be subject to the provisions of article of this chapter, pertaining to planned unit development, and shall be developed in compliance with the adopted city growth policy. The intent of the R-1 residential single-household low density district is to provide for primarily single- household residential development and related uses within the city at urban densities, and to provide for such community facilities and services as will serve the area's residents while respecting the residential character and quality of the area The underlying growth policy designation of the affected area is Suburban Residential. The following land uses and zoning are adjacent to the subject property: North: Agriculture in unannexed Gallatin County, zoned Agricultural Suburban South: Single-household detached homes in unannexed Gallatin County, zoned Agricultural Suburban East: Unannexed Gallatin County area, zoned AEPD10 in Bridger Canyon Zoning District West: Vacant land and Single-household detached homes, R-1 in the City and R-S in unannexed Gallatin County Adopted Growth Policy Designation The Future Land Use Map (Figure 3-1) of the recently updated Bozeman Community Plan designates the subject property to develop as Suburban Residential. This category indicates locations generally outside of City limits, but within the planning area, where a land development pattern has already been set by rural subdivisions. Subdivisions in this area are generally characterized by lots two acres in size or less. It is probable that portions of this area may be proposed for annexation within the next twenty years. The area is able to be served with municipal water and sewer services with appropriate extensions of main lines. Any further development within this area should be clustered to preserve functional open space. Individual septic and well services are discouraged. If development is proposed within reasonable access distances to waste water and water services, annexation to the City should be completed prior to development. Review Criteria & Staff findings This application is subject to review under three levels of criteria: site plan, conditional use permit, and planned unit development. These follow an increasing level of detail and discretion. Review of each criteria may find the item not applicable to the present application or may find the application positively or negatively impacts the criteria. Section 38.19.100 Plan Review Criteria In considering applications for plan approval under this title, the review authority and advisory bodies shall consider the following criteria: 1. Conformance to and consistency with the City's adopted growth policy The uses remain consistent with the described uses in the Suburban Residential land use designation. The goals and objectives of the plan appear to be met. Affordable housing is a subject in the growth policy and is encouraged in various implementation policies. The proposal appears to conform to the policies identified for Chapter 6, Housing. 2. Conformance to this title, including the cessation of any current violations #Z-05085A Creekwood PUD amendment CUaff Report 4 Staff is not aware of any currieviolations on the subject property. ThOare some remaining punchlist items from the original subdivision. Unfortunately, the original developer no longer controls the property and the warrantee has expired. The City Engineer is aware and making efforts to get these items resolved. The applicant is advised that unmet code provisions, or code provisions that are not specifically listed as conditions of approval, does not, in any way, create a waiver or other relaxation of the lawful requirements of the Bozeman Municipal Code or state law. Some code requirements necessary to complete the process of the application have been identified and will need to be met before final approval. 1. A complete final PUD application shall be submitted to the Planning Department within one calendar year of the date the City Commission findings of fact are signed per Section 38.20.060.A.1. 2. Section 38.19.110.F states that the right to a conditional use permit shall be contingent upon the fulfillment of all general and special conditions imposed by the Conditional Use Permit procedure. All special conditions and code provisions shall constitute restrictions running with the land, shall be binding upon the owner of the land, his successors or assigns, shall be consented to in writing by the applicant prior to commencement of the use and shall be recorded as such with the Gallatin County Clerk and Recorder's Office by the property owner prior to the final site plan approval or commencement of the use. All of the conditions and code provisions specifically stated under any conditional use listed in this title shall apply and be adhered to by the owner of the land, successor or assigns. 3. The final PUD shall comply with the standards identified and referenced in the Bozeman Municipal Code except where a deviation or other exception has been explicitly amended. The applicant is advised that unmet code provisions, or code provisions that are not specifically listed as conditions of approval, does not, in any way, create a waiver or other relaxation of the lawful requirements of the Bozeman Municipal Code or state law. 4. Applicant shall provide with the final PUD application a written summary addressing on the conditions of approval have been met, both specific and code provisions outlined in the staff report, as well as related code provisions provided by the City Engineer's Office and Planning Office. 3. Conformance with all other applicable laws, ordinances, and regulations The Final PUD Plan will be reviewed to ensure compliance with this section. The plans for individual homes will be evaluated against the requirements of the International Building Code at the time application is made for a Building Permit. No zoning non-conforming situations have been identified at this time. 4. Relationship of site plan elements to conditions both on and off the property No specific site plan for individual homes is proposed at this time. This application only modifies the terms under which certain use can occur within the defined area. Any subsequent proposal to establish the use will be subject to the applicable review procedures of Chapter 38, Article 19. 5. The impact of the proposal on the existing and anticipated traffic and parking conditions The anticipated parking and traffic demand from the development of the homes on the affected lot t is consistent with the intensity anticipated from the allowed uses in the R-1 and RS districts. #Z-05085A Creekwood PUD amendment CUaff Report 5 6. Pedestrian and vehicular tress and egress 9 The amendment of the conditions of approval relating to affordable housing does not affect this criterion. Any future on-site development will address this criterion. 7. Landscaping, including the enhancement of buildings, the appearance of vehicular use, open space, and pedestrian areas, and the preservation or replacement of natural vegetation The amendment of the conditions of approval relating to affordable housing does not affect this criterion. Any future on-site development will address this criterion. 8. Open space The amendment of the conditions of approval relating to affordable housing has limited affect this criteria. Any future on-site development will address this criterion. It may be expected that the largest home possible to construct within the terms of the proposed revised agreement will be smaller than previously and will leave more open space on individual lots. However, this will be very minor in the context of the overall PUD. 9. Building location and height The amendment of the conditions of approval relating to affordable housing has limited affect this criteria. Any future site development will address this criterion. No special relaxations relating to this subject were approved with the original PUD. 10. Setbacks The setbacks for a PUD in the R-S district are established at the time the original PUD is reviewed. No changes are proposed with this application. 11. Lighting The proposal does not affect this criterion. Any future site development will address this criterion. 12. Provisions for utilities, including efficient public services and facilities The proposal does not affect this criterion. Any future site development will address this criterion. 13. Site surface drainage The proposal does not affect this criterion. Any future site development will address this criterion. 14. Loading and unloading areas This application is primarily related to non-residential development. The proposal does not affect this criterion. Any future site development will address this criterion. 15. Grading The proposal does not affect this criterion. Any future site development will address this criterion. 16. Signage The proposal does not affect this criterion. Any future site development will address this criterion. 17. Screening The proposal does not affect this criterion. Any future site development will address this criterion. 18. Overlay district provisions The proposal does not affect this criterion. The area is within the Bridger Drive entryway corridor. The single home development located in this subdivision is not subject to entryway corridor standards. #Z-05085A Creekwood PUD amendment CUfq�Faff Report 6 19. Other related matters, Ading relevant comment from affec*arties No public comment has been received to date. 20. If the development includes multiple lots that are interdependent for circulation or other means of addressing requirement of this title, whether the lots are either: Configured so that the sale of individual lots will not alter the approved configuration or use of the property or cause the development to become nonconforming or The subject of reciprocal and perpetual easements or other agreements to which the City is a party so that the sale of individual lots will not cause one or more elements of the development to become nonconforming. Not applicable to this application. 21. Compliance with Title 17 Chapter 2, BMC (Workforce Housing) Not applicable to this application which is solely related to non-residential activity. 22. Phasing of Development The phasing is addressed in the affordable housing agreement. Lots will be relieved of the burden of the agreement proportionate to the fulfillment of the agreement. Section 38.19.110.E CONDITIONAL USE PERMIT; "Consideration and Findings for Conditional Use Permits" In addition to the plan review criteria contained in Section 18.34.100 below, the Review Authority shall, in approving a conditional use permit, determine favorably as follows: 1. That the site for the proposed use is adequate in size and topography to accommodate such use, and all yards, spaces, walls and fences, parking, loading and landscaping are adequate to properly relate such use with the land and uses in the vicinity. The yard sizes were established with the initial PUD. No changes to these items are proposed. The use remains unchanged with this amendment and no negative impacts are expected. 2. That the proposed use will have no material adverse effect upon the abutting property. Persons objecting to the recommendations of review bodies carry the burden of proof. The proposed amendment does not alter the use, it remains as presently allowed by the R-1 and R-S zoning districts. These uses have previously been found to be compatible during the development of these zoning districts. 3. That any additional conditions stated in the approval are deemed necessary to protect the public health, safety and general welfare. Such conditions may include, but are not limited to: regulation of use; special yards, spaces and buffers; special fences, solid fences and walls; surfacing of parking areas; requiring street, service road or alley dedications and improvements or appropriate bonds; regulation of points of vehicular ingress and egress; regulation of signs; requiring maintenance of the grounds; regulation of noise,vibrations and odors; regulation of hours for certain activities; time period within which the proposed use shall be developed; duration of use; requiring the dedication of access rights; other such conditions as will make possible the development of the City in an orderly and efficient manner. #Z-05085A Creekwood PUD amendment CUfWaff Report 7 Staff has identified, through t0eview process, no recommended projWonditions as being needed to protect the public health, safety;and general welfare. A CUP document will be prepared incorporating all conditions and code provisions for recording to document the findings of any approval by the City Commission. An updated affordable housing agreement will be prepared and executed. Section 38.20.090.E PLANNED UNIT DEVELOPMENT; "Design Objectives and PUD Review Criteria" This application is subject to the criteria for"All Development" and "Residential" which are included below. The overall PUD was reviewed against these criteria during the initial development. Criteria which are not applicable to the present application are so noted. 2. In addition to the criteria for all site plan and conditional use reviews, the following criteria will be used in evaluating all planned unit development applications. a. All development. All land uses within a proposed planned unit development shall be reviewed against, and comply with, the applicable objectives and criteria of the mandatory "all development" group. (1) Does the development comply with all city design standards, requirements and specifications for the following services: water supply, trails/walks/bike ways, sanitary supply, irrigation companies, fire protection, electricity, flood hazard areas, natural gas, telephone, storm drainage, cable television, and streets? Yes, addressed with the original application. (2) Does the project preserve or replace existing natural vegetation? Yes, the mature vegetation along the creek was preserved as part of the open space with the original application. (3) Are the elements of the site plan (e.g., buildings, circulation, open space and landscaping, etc.) designed and arranged to produce an efficient, functionally organized and cohesive planned unit development? Yes, this was addressed with the original application. (4)\Does the design and arrangement of elements of the site plan (e.g.,building construction, orientation, and placement; transportation networks; selection and placement of landscape materials; and/or use of renewable energy sources; etc.) contribute to the overall reduction of energy use by the project? Yes, this was addressed with the original application. (5) Are the elements of the site plan (e.g., buildings, circulation, open space and landscaping, etc.) designed and arranged to maximize the privacy by the residents of the project? Yes, this was addressed with the original application. (6) Park land. Does the design and arrangement of buildings and open space areas contribute to the overall aesthetic quality of the site configuration, and has the area of park land or open space been provided for each proposed dwelling as required by section 38.27.020 Yes, this was addressed with the original application. (7) Performance. All PUDs shall earn at least 20 performance points. Nonresidential developments within the North 19th Avenue/Oak Street corridor shall earn 30 points. Points may be earned in any combination of the following. #Z-05085A Creekwood PUD amendment CUj*aff Report 8 The apokant shall select the combination of mcods but the city may require documentation of performance, modifications to the configuration of open space, or other assurances that the options selected shall perform adequately. (a) Provision of affordable housing. Exclusive of housing used to satisfy chapter 10, article 8: (i) Four points for each percent of dwellings to be constructed in the residential development which are provided by donation to the city; or one point for each build ready lot donated to the city for affordable housing provided by a residential or nonresidential development; or (ii) One point for each percent of dwellings to be constructed in the residential development which are provided by long term contractual obligation to an affordable housing agency, for a period of not less than 20 years, with a written plan assuring on-going affordability pricing and eligibility monitoring, and annual re- certification. The city's affordability guidelines and subsequent revisions shall establish affordability and eligibility; (b) Additional open space. (i) One point for each percent of the project area that is provided as non-public open space; or 1'/ points for each percent of the project area that is provided as publicly accessible open space. (ii) The portion of the project to be considered in determining the size of area to be provided for open space shall be the gross project area less areas dedicated and transferred to the public, and/or used to meet the park lands requirements of subsection E.2.a.(6) of this section. The area provided for open space shall be exclusive of yard setbacks on individually owned lots and interior parking lot landscaping, and subject to the performance standards of article 27 of this chapter. The area may be provided through a combination of one or more of the following means: (A) Open space within the project boundaries and commonly held by the property owners association for the use of owners, residents and their guests; (B) Open space within the project boundaries and developed as usable recreation space with a corresponding public use easement; (C) Outside of the project boundaries as an addition to an existing off-site park adequate in location and size to meet the recreational needs of the residents; (D) Cash-in-lieu of open space subject to the standards of section 38.27.030; or (E) Open space outside of the project boundaries adequate in size and location to meet the recreational needs of the residential development only with the approval of the city commission. The site is subject to the standards of article 27 of this chapter and must demonstrate a geographic and service relationship to the residential development. Yes, this was addressed with the original application. The initial Creekwood PUD met ALL of its performance points requirements by providing additional protection for open space coordinated with public parkland. The property set aside is located on both sides of Bridger Creek. #Z-05085A Creekwood PUD amendment CUaff Report 9 0 0 (c)—(k) These options were not used in this development and therefore are not presented in this report. b. Residential. Planned unit developments in residential areas (R-S, R-1, R-2, R-3, R-4, RMH and R-O zoning districts) may include a variety of housing types designed to enhance the natural environmental, conserve energy, recognize, and to the maximum extent possible, preserve and promote the unique character of neighborhoods, with provisions for a mix of limited commercial development. For purposes of this section, "limited commercial development" means uses listed in the B-1 neighborhood service district (article 10 of this chapter), within the parameters set forth below. All uses within the PUD must be sited and designed such that the activities present will not detrimentally affect the adjacent residential neighborhood. The permitted number of residential dwelling units shall be determined by the provision of and proximity to public services and subject to the following limitations: (1) On a net acreage basis, is the average residential density in the project (calculated for residential portion of the site only) consistent with the development densities set forth in the land use guidelines of the city growth policy? Yes, this was addressed with the original application. See criteria b(6)below for further discussion. (2) Does the project provide for private outdoor areas (e.g., private yards,patios and balconies, etc.) for use by the residents and employees of the project which are sufficient in size and have adequate light, sun, ventilation, privacy and convenient access to the household or commercial units they are intended to serve? Yes, this was addressed with the original application. (3) Does the project provide for outdoor areas for use by persons living and working in the development for active or passive recreational activities? Yes, this was addressed with the original application. (4) If the project is proposing a residential density bonus as described below, does it include a variety of housing types and styles designed to address community wide issues of affordability and diversity of housing stock? Yes, this was addressed with the original application. A density bonus was approved by the City Commission. There are a variety of lot sizes provided within the subdivision which supports a more diverse housing stock within the development. Conditions to provide three affordable homes were also imposed with the original PUD approval. (5) Is the overall project designed to enhance the natural environment, conserve energy and to provide efficient public services and facilities? Yes, this was addressed with the original application. (6) Residential density bonus. If the project is proposing a residential density bonus (30 percent maximum) above the residential density of the zoning district within which the project is located and which is set forth in article 8 of this chapter, does the proposed project exceed the established regulatory design standards (such as for setbacks, off-street parking, open space, etc.) and ensure compatibility with adjacent neighborhood development? The number of dwelling units obtained by the density bonus shall be determined by dividing the lot area #Z-05085A Creekwood PUD amendment CU"taff Report 10 requirar the dwelling unit type by one plus twercentage of density bonus sought. The minimum lot area per dwelling obtained by this calculation shall be provided within the project. Those dwellings subject to chapter 10, article 8, shall be excluded in the base density upon which the density bonus is calculated. As noted in criteria (4) above, the original PUD contained two conditions for affordable housing as an exchange for the granted density bonus. These conditions were: 1. In exchange for the requested density bonus the property owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. 6. The final PUD plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus agreeable to the City of Bozeman and the CAHAB. At a minimum the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listed as party to the restriction. The City Commission at that time found that these conditions were an adequate exchange for the density bonus. The proposed amendment keeps the same number of homes, reduces the price which they can cost, but lifts the long term deed restriction. (7) Limited commercial. If limited commercial development, as defined above, is proposed within the project, is less than 20 percent of the gross area of the PUD designated to be used for offices or neighborhood service activities not ordinarily allowed in the particular residential zoning district? (a) If neighborhood service activities are proposed within the project, is a market analysis provided demonstrating that less than 50 percent of the market required to support proposed neighborhood service activities is located outside the immediate area of the PUD and are the neighborhood services of a nature that does not require drive-in facilities or justification for through traffic? (b) If the project contains limited commercial development, as defined above, is the project located at the intersection of arterial streets, or arterial and collector streets? (c) If the project contains limited commercial development, as defined above, has the project been sited and designed such that the activities present will not detrimentally affect the adjacent residential neighborhood and have the commercial activities been developed at a scale compatible with residential development? No limited commercial is or was proposed with the Creekwood PUD. (8) Does the overall PUD recognize and, to the maximum extent possible, preserve and promote the unique character of neighborhoods in the surrounding area? Yes, this was addressed with the original application. THE BOZEMAN CITY COMISSION SHALL MAKE THE FINAL DECISION ON THIS DEVIATION. THE CONCURRING VOTE OF THREE MEMBERS OF THE COMMISSION IS NECESSARY TO APPROVE THIS APPLICATION. THE DECISION OF THE COMMISSION MAY BE APPEALED BY AN AGGRIEVED PERSON AS SET FORTH IN SECTION 38.35.080 OF THE BOZEMAN MUNICIPAL CODE. #Z-05085A Creekwood PUD amendment CL"aff Report 11 Attachments: Application materials Report Sent to: Andy Ebbighausen, PO Box 930, Manhattan MT 59741 file #Z-05085A Creekwood PUD amendment CLft#aff Report 12 aITY OF BOZEMAN FEE APPLIES- DEPARTMENT OF PLANNING AND COMMUNITY DEVELOPMENT A Fred M.Stiff Professional Building phone 406-582-2260 2 East Olive Street fox 406.582-2263 P O.Box 1230 planning@bozemon.net 8)zemon,Montano 59771.1230 www.bozemon.net DEVELOPMENT REVIEW,APPLICATION 1.Name of Project/Development: 2.Property Owner Information: Name f E-mail Address: At Addr I •`T Phone: L r �+ FAX 3.Appti t Information: Name t�a��t�y!��•,S_� E-tnail'Address: Muting Addrfss: Phone: FA-\: I 4.Representative Information: E-mail Address: Mailing Ad ss: Phone: FAX: S.Legal Description: 6.Street Address: 7.Project Description: 8.Zoning Designation(s): f2 9.Current Land:Use(s): 10.Bozeman Community Plan Des goation: ]� 11.Gross Area: Acres: quare Feet: 12,Net Area: Acres: Square Feet: Page I Appropriate Review Fee Submitted ❑ 204 13. Is the subject site within an urbai i renewal district? ❑ Yes,answer question 132 No,go to question 14 13a.Which urban renewal district? ❑Downtown ❑ Northeast(NURD) ❑ Forth 7111 Avenue I 14.is the subject site within an overl y district? ❑ Yee,Answer question 14a K No,go to question 15 1.4a.Which Overlay District? ❑Casino ❑ Neighborhood Conservation ❑ Entryway Corridor ll thi s application require a deNI ation(s)? ❑ Yes,list UDC mcrion(s): No Fls 16.Application Type(please check a I that apply): ❑O.Planned Unit Development—Concept Plan CIA.Sketch Plan for Regtdated Activities i i Regulated Wedinds ❑P.Planned Unit Development—Preliminary flan ❑B.Rcuse,Ch2tvc.in Use,Further Devell ipment Pre-9/3/91 Site ❑Q.Planned Unit Development—Final Plan ❑C—Amendmtmr/,Votlitication of Plan Alip.oved On/After 9/3/91 ❑R.I'lanttcd Unit.Development—Master Plan ❑D.artist,Change in Use,further Der elopn ent,amendment/COa ❑S.Subdivision Pre-:ipplicrtion ❑E.Special Temporary Use Pen-nit ❑T.Subdivision Ptctitninary Plat ❑F.Sketch Plan/COA ❑U.Subdivision Final Plat ❑G.Sketch Plan/COA with in Intensific Lion of Use ❑V.Subtlivision Exemption ❑li.Preliminary Site Ph1n/CUA ❑W Annexation ❑1.Prelirninan•Site Plan ❑X.Zoning\lap Amendment ❑).Preliminary\-faster Site Plan ❑Y.Unified Development Ordinance Text Amendttxttr. KK.Conditional Use Permit ❑Z.%aning Variance ❑L.Conditional Use Pennir/COA ❑A.A.Growth Polity Map Amendment ❑M.Administrative Project Decision i1p al ❑BB.Growth Policy Text Amendment ❑N.Adni nistrative Intcrpret-ation App ❑Othcr. 11his application must be accompanied by ikappropriate cltecklist(s),number of plans or plats,adjoiner information and materials,and fee (see Development Review Application Requirements and Fees). 11te plans or plats must be drawn to scale an paper not smaller than 81/2- by 11-inches or larger than 24-by36-inch folded into individual sets no larger than 81/2-by 14-inches. The name of the project must be shown on the cover sheet of the plans. lf 3-ring binders will Ix used,they must include a table of contents and tabbed dividers between sections. Application deadlines are Wed days at 5.00 pm. 17his application must be signed by both the applicant(s)and the property owner(s)(f different)before the submittal will be accepted. As indicated by the signature(s)below,the applicant(s)and property owners)submit this application for review under the terms and provisions of the Ilo entan Municipal Code. It is further indicated that any work undermken to complete n development approved by the City of Bozeman shall be in conformance with the requirements of the Bozeman Municipal Code and any special conditions established by the approval authority.I acknnudedge thai the City has an Impact Fee Program and impact fee may be assessed for my project.Further,I agree to grant City personnel and other tiew ency representatives access to the subject site during the coursu of the review process (Section 38.34.050,B\1C). I(\Ve)hereby ';that c alcove information is true and correct to the best of my(our)know ledge. Applicant's Signature: Date: d0/1 2 Applicant's Signlarur -- Date: Property Own is Signature: Date: Property Owner's Signature: Date: Page 2 (DcvelnpmmtReview pUcativn—Ptepamdll/?3/03;Amettdcd9/17/04,6/1/06.9/18/07,.reviaedit/14/11) 205 TO: Members of the Bozeman City Commission FROM: Andrew Ebbighausen RE: Creekwood PUD DATE: February 23, 2012 My name is Andy Ebbighausen of Ebbighausen Homes. I have purchased or have purchases pending for the remaining unsold inventory in Creekwood PUD in the City of Bozeman. Several of the lots that I have as pending purchases have building permit restrictions on them relating to the Affordable Housing Agreement entered into by the original developer, who is no longer associated with the development. I would like to request an amendment or restructuring of the Affordable Housing Conditions of Approval for the Creekwood PUD for the following reasons: First, the change in the economy has significantly altered the price point of homes in Creekwood from its original conception. The clear intent of the Affordable Housing Condition was to have a mixed income within Creekwood. The original thought was that most the homes would be upper income homes; the Affordable Housing Condition would allow three "Affordable Homes" in the subdivision. The agreement uses 120%of Area Median Income as the threshold. By today's HRDC's numbers that would put the affordable housing cost at$358,385.85 (See attached Affordability Assessment). That is based on only 5%down. If a person used a conventional loan program with a standard 20%down the home would be in the mid $400,000 range. By this standard every home I have built so far in the subdivision meets the Affordable Housing Condition (many more than the original three the city intended). I currently have two homes available for sale in the$370k range. Yet many lots still have building restrictions against them because the specific lots identified for Affordable Housing Conditions have not been built on. The second reason to modify the conditions is the 20 year deed restriction attached to the lots as part of the requirement. This creates an essentially unmarketable property. If a qualified Buyer for a home of$350,000 looks at homes in Bozeman, they will have a solid selection from neighborhoods like Alder Creek, Legends, Westridge, Baxter Meadows West,Valley West, etc. The deed restriction that limits their potential return on their home will surely not be an appealing investment. Moreover, it creates an inherent problem in the lending world. The value of the home is tied to labor and income markets rather than the real estate market. For instance, if a Buyer purchased the home under the HRDC assumptions provided using 5%down,they could have a mortgage of$340,000. It would only take a small drop in Area Median Income to lower the purchase price qualification to below that amount, thereby forcing the homeowner and lender into a short sale scenario. Lenders will certainly have a problem loaning with this restriction on a property. There is some confusion with the language as the condition is written as well. It states the property owner shall construct "The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be;less t nah the selling price of a house affordable to a 206 family of 4 earning 120%of the area median income."(See attached Affordable Housing Conditions of Approval and Agreement for Creekwood Planned Unit Development,#z-0585. Page 2 under the second condition of requirement). In other words, the way it is written is that the least expensive affordable home that could be built would start at$358,385.85 and go up from there. Suggested Options: Option 1 We provide documentation that the Affordable Housing Condition's on three or more lots in the subdivision have been met(other than the 20 year deed restriction)and the Affordable Housing Condition be deemed as met and the remaining lots with building permit restrictions be lifted. Option 2 The Affordable Housing Conditions stay just the way they are except the 20 year deed restriction lifted. Option 3 The Affordable Housing Condition stay just the way they are only the AMI moves from 120%to 100%and the 20 year deed restriction is lifted. Obviously option 1 is the easiest and cleanest. The original intent of a diverse income in the subdivision is already being met. The homes along the creek are more expensive and the lots along the highway (were the building permit restrictions are)will necessarily have to be marketed at a much lower price than the rest of the subdivision in order for them to sell. We know the city is trying to do its part in helping the local economy. Currently in Creekwood subdivision there are lots that cannot be sold and built on until the Affordable Housing Condition is met. We appreciate your help Attachment 1 Hi Sharon—I have run a quick calc for an affordable home for a household of four earning 120%AMI ($80,050). Calc and assumptions are below.Thanks. 207 Affordability Assessment IT Max Annual Income (HH4 at 120%AMI) 80,050.00 Max monthly income 6,670.83</tr> Max housing payment 30% 2,001.25 less estimated escrows 20.00% 400.25 I Principal and Interest Payment 1,601.00 Present Value of Principal and Interest Payment Loan Term (years) 30 Interest Rate 3.875% Maximum Mortgage 340,466.56 Max LTV 9%o 340,466.56 Maximum purchase price 358,385.85 Required Down payment 5.00% 17,919.29 Assumptions: 30 year,fixed rate mortgage with 5%down-payment required Interest rate is MBOH regular bond program rate on 12/06/11 Escrows are estimated at 20%of mortgage payment in this regard. Attachment 2 208 r 3-444 Jnter-office Original to: I tlllll lllfl tI�I)IIIIII IIII�IIII�I1fII IIt�rII�IIII I1II 2Z `J09112006 p City of Bozeman Sh�llw V4r1"_Ga11at1IM Co rrr nrsc I( 49..00 Planning Department 20 East Olive Street AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEK WOOD PLANNED UNIT DEVELOPMENT,#7r05085 THIS AGREEMENT is[Wade and entered into this /Zl day of �� -.r,2006, by and between Oakwood o rties LLC (Kelly Taylor), 607 Professional Drive Suite 3 Bozeman, MT 59718, h reinafter called the "Property Owner", and the City of Bozeman, a Municipal Corporation an I political subdivision of the State of Montana,with offices at 411 East Main Street,P.O.Box 1220,Bozeman,MT 59771-1230,hereinafter called the"City". WHEREAS,the i indersigned Property Owner acknowledges the receipt of a Conditional Use Permit(CUP)for a Pl inned Unit Development(PUD)from the City of Bozeman to establish a unified development plan of a 37.66 acre subdivision for the development of 53 single-household lots with the following re juested relaxation from the City of Bozeman Municipal Code: Section 18.16.040.B Lot Area for R-S Residential Suburban Lots to allow a 30 percent density bonus as permitted under Section 1 .36.090.E. WHEREAS,the subject property is legally described as the E%2,SEA of Section 32,T1 S, R6E,PMM,City of Boze an,Gallatin County,Montana;and WHEREAS,the GUP granted a density bonus in exchange for the following two Affordable Housing conditions: 1. In exchange for t e requested density bonus the Property Owner shall ensure compliance with Section 18.3 .090.E for development of the three affordable lots noted on the plan. Creekwood PUD Affordable ousing $IZ•05085 Page I of 7 210 111111 Hill 11111 Hill 111111111111111111111111I 2245f 7 Shelley Vance-Gallatin Cc MT MISC 49.00 2. The Final PUD PI n shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus,agreeable to the City of Bozeman,with input from the HRIDC. At a minimum,the method of donation shall be proportionately dispersed with the dumber of building permits released and the units shall be deed restricted with the City listed as party to the restriction. WHEREAS,the Property Owner wishes to receive approval of the final PUD plan,final plat,and to obtain building)permits. I WHEREAS,it is a intent and purpose of both the Property Owner and the City to hereby enter into an Agreement A hich will guarantee the full and satisfactory completion of the required conditions described herein; and it is the intent of this Agreement,and of the parties hereto,to satisfy the requirements and guarantee completion of the conditional approval of said CUP application. NOW,THEREFORE,in consideration of the mutual covenants and conditions contained herein,it is hereby agreed as follows: 1.Requirement The Property Owner is responsible for providing three (3) lots with constructed dwelling units within the Creekwood Su i ivision for use as affordable housing.The Property Owner agrees that this requirement shall be I ited in the following manner. l. The Property Own r shall provide the equivalent of three(3)affordable lots with constructed dwelling units wi in the Creekwood Subdivision. 2. The equivalent v ue of an affordable lot with constructed dwelling unit within the Creekwood Subdi Koner ion shall not be less than the selling price of a house affordable to a family of 4 earnin120%of the Area Median Income.Documentation of this calculation shall be dated not than 60 days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Cree"ood Subdivision to the City of Bozeman,and therefore may equal up to but not exceeding a total of 6 lots in the Creekwood Subdivision. 4. if the Property Ov ner selects an option with an appraisal requirement,the Property Owner shall provide appraisals from a certified real estate appraiser.The appraisal fee shall be the responsibility of the Property Owner. The appraisal shall be conducted not sooner than 60 days from the sub ittal. 5. The Property Owrper shall be responsible for all costs associated with escrow,including but not limited to maii itaining and managing the escrow account,costs for disbursing the deeds, charges for real estate commissions, loan payoffs, title insurance, taxes,recording fees, closing escrow an J other costs. 6. This agreement i (hall be fully completed within 18 months of Final Plat approval. Creekwood PUD Affordable Housing #Z-05085 Pagc 2 of 7 211 0 III!IIIII IIIII IIIIII pill IIII IIIIIII III IIIII IIII18122/2006 45091p Shelley V&m*-Selletln Co Mr MIBC 49.00 2.Options The following options sbi J1 be available to the Property Owner on an equivalent value(lot for lot, dwelling unit for dwelling unit) basis in fulfillment of the above described affordable housing conditions. I. The Property Owr er shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman,and wili provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall niean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, as defined in Section 11 paragraph 2 above 3. The Property Owner shall market for sale, and make all reasonable efforts to sell,to an income qualified iridividual,an affordable lot with constructed dwelling unit within the Creekwood Subdivision with a deed restriction on the property for a minimum of 20 years with the City listei I as party to the restriction that the dwelling unit will be owned by an income-qualified ii idividual. In the event the Property Owner has been unable to sell said unit to a qualified i idividual within 3 months after completion,said unit may then be rented to an income-qua] Pied individual. If said unit has failed to sell to an income-qualified individual within months after completion, said unit may then be sold without deed restriction and the Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 4. The Property Owner shall market for sale, and make all reasonable efforts to sell,to an income qualified individual,an affordable lot with constructed dwelling unit outside of the Creekwood Subdi ision that is acceptable to the City of Bozeman with a deed restriction on the property for a n1inimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of ari affordable lot with onstructed dwelling unit within the Creekwood Subdivision.in the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after comp etion,said unit may then be rented to an income-qualified individual.If said unit has failiA to sell to an income-qualified individual within 6 months-after completion,said ur it may then be sold without deed restriction and the Property Owner shall pay to the City of 3ozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelli ig unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable to with constructed dwelling unit within the Creekwood Subdivision,as defined in Section ,paragraph 2 above. Cmekwood PUD Affordable H sing #Z-05085 Page 3 of 7 212 I ' I 11111 IN 1111111111111111111111111111111111111111111 Pass: Sheller Vance-Gallatin eo MT RISC Well 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owner shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman,ind will provide cash in lieu for the shortfall between the appraisal of the deeded lot(s)and the equivalent value of an affordable lot with constructed dwelling unit within the Cree Iood Subdivision. 7. The Property Ow er shall deed an affordable lot to the Promisco Family Trust with a deed restriction on the roperty for a minimum of 20 years with the City listed as party to the restriction that the welling unit will be owned by an income-qualified individual.The Trust will then build a d elling unit and sell the unit to an income-qualified individual.The Trust may hold the morfgage for said individual. The Trust will be responsible for providing annual recertificati on of the homeowner to HRDC. 3.Phasing Based on fulfillment of thel affordable housing requirements,the following phasing shall be in force. 1. Upon approval of the Final Plat: • 39 unrestril ted building permits may be issued. • 3 building >ermits restricted to Lots 32, 39 and 52 for deed restricted affordable dwelling ui its may be issued. • Lots 37,38 39,40,52,and 53 may not be sold and the deeds shall be held in escrow by a neutray third party in order to be used as the financial guarantee in fulfillment of this agree ant until either released by the City of Bozeman or deeded to the City of Bozeman.These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. The Property Owner shall have the option of providing lternative security to be used as the financial guarantee,provided the method,terns and amount of security are approved by the City. • This agreei ient shall restrict the issuing of building permits on lots 3,8,17,24,34, 37,38,40, ,45,and 53.A notice of building permit restriction will be recorded on these Ibts. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. 2. A proportionate share of the restricted lots will be released for building permits and/or sale In relation to artial completion of this agreement. 3. This agreement s all be fully completed within 18 months of Final Plat approval. 4. If Lots 32,39 or 5 have not been utilized for deed restricted affordable dwelling units in completion of this agreement,then the City of Bozeman will lift the requirement for those lots to be used ass such. 4.Default If the Property Owner sho ild default or fail to fully perform any of its obligations in conformance with the time schedule and.-r this Agreement,and such default or failure shall continue for a period of thirty(30)days after wr tten notice specifying the default is deposited in the United States mail addressed to the Property Owner at Oakwood Properties.LLC(Kelly Taylor),607 Professional Creekwood PUD Affordable Hc using #Z-05085 Page 4 of 7 213 I I�` IIn I IIIIII IIIII IIII IIIIII IIUI IIII IIIWI III IIIII IIII IIII 224006 Shelley Vance-Gallatin Co MT RISC 49.00 Drive Suite 3 Bozeman MT 59718,or such other address as the Property Owner shall provide to the City from time to time without being completely remedied,satisfied,and discharged,the City may elect to enforce any of the following specified remedies: a. The City m y,at its option,declare the financial guarantee to be forfeited at a rate of 2 lots fore ch equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, and shall secure the title of up to but not exceeding lots. b. The City in y enforce any other remedy provided by law. 5. Governing Law and Venue This Agreement shall be construed under and governed by the laws of the State of Montana. In the event of litigation concerning this Agreement,venue is in the Eighteenth Judicial District Court, Gallatin County,State of I ontana. 6. Attorney's Fees In the event it becomes necessary for either party to this Agreement to retain an attorney to enforce any of the terms or condi ions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees d costs,,including fees,salary and costs of in-house counsel including City Attorney. 7. Modifications or Alterations No modifications or amendment of this Agreement shall be valid,unless agreed to in writing by the parties hereto. 8. Invalid Provision The invalidity or unenforcrability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 9. No Assignment The responsibilities and benefits of this Agreement to the Property Owners may not be assigned without the express written approval of the City.Such approval may not be withheld unreasonably, but any unapproved assigni nent is void.There is no prohibition on the right of the City to assign its. rights under this Agreemen .The City shall release the original Property Owners from their liability under this agreement if it a cepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors Creekwood PUD Affordable Ho ising #Z-05085 Page 5 of 7 214 III�1 IIIII III��III ull)IIN uu�ll�f Ilu� III II�) 224 of 7 5091Q Shallay Vanoa-Gallatin Co MT RISC 49.00 Except as provided in pararaph 9,this Agreement shall be binding upon,inure to the benefit of,and be enforceable by the parties hereto and their respective heirs,successors and assigns. 11.Filing The Property Owner shall I iave this Agreement recorded in the Office of the Gallatin County Clerk i and Recorder at the same time the Final Plat is filed. DATED THIS V DAY OF 2006. PROPERTY OWNE O ro es,LLC By Kell Taylor,Managing Member STATE OFA'1(T'W� ) i :Is County of GibuAk ) On this (ID fi" day of nr,4 2006,before me, the undersigned,a Notary Public for the State of Mop tana,personally appeared Kelly Taylor,known to me to be the Manaaine Member, Oakwood Prop ities, LLC, the company that executed the within instrument, and acknowledged to me that I ie executed the same for and,on behalf of said company. i IN WITNESS WHEREOF,I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. IRL" we-ad (Signature above) L ilfC''• f y 1 p_�p.61p. �i ire yl � Cl ; (Printed Name above) Notary Public for State of Montana Residing at: l�lltzawangl-- �✓ Commission Expires: ? 7-00 7 1 .. •.. d' (Use 4 digits for expiration year) i THE ITY F BOZEMAN i 1 Creekwood PUD Affordable H ousing #Z-05085 Page 6 of 7 215 t IIfI�II��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�I�III�1�l�IIII 220ft W54 A Sh1116V Vance-0allatin Cc MT MISC 49.00 Andrew C.Epple,AICP Planning Director STATE OF MONTANA ss County of Gallatin ) On this day of L1-Y— ,2006, before me, a Notary Public for the State of Montana,personally appeared Andrew C.Epple,AICP,known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman,whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREO I have hereunto set my hand and affixed my seal on the day and year first written above. ✓�iUt4YlecI (Signature above) kf- 14-kw GvP a 1 i (Printed Name above) '•, Notary Public for State of Montana •� ; A Residing at: r m Commission Expires: 3/Z"00 9 C) (Use 4 digits for expiration;year) Creekwood PUD Affordable ousing 4Z-05085 Page 7 of7 216 CIT*F BOZEMAN , DEPARTMENT OF PLANNING AND COMMUNITY DEVELOPMENT Alfred M.Stiff Professional Building phone 406-582-2260 o 20 East Olive Street fax 406-582-2263 P.O. Box 1230 planning@bozeman.net Bozeman, Montana 59771-1230 www.bozeman.net May 16, 2012 Andy Ebbighausen PO Box 930 Manhattan, MT 59741 RE: Creekwood PUD Affordable Housing Amendment Application (#Z-05085A) Dear Mr. Ebbighausen: On May 14, 2012 the Bozeman City Commission preliminarily approved your Application for the above referenced project. The decision on the application was based on the fact that, with conditions and code provisions, the proposal complies with the requirements of Title 18 of the BMC, will not be detrimental to the health, safety, or welfare of the community, and is in harmony with the purpose and intent of the Bozeman Community Plan. A complete and signed final site plan application and copy of the attached executed and recorded document which notes all conditions of approval and code provisions must be submitted to the Department of Planning & Community Development within six months, or by November 14, 2012. The submittal must be accompanied by a written narrative explaining how all of the conditions of approval and code provisions have been addressed. If the Final Site Plan cannot be submitted within the six month period as previously referenced, a six month extension may be granted by the Planning Director. The final conditions of approval are as follows: Conditions of Approval 1. The final PUD application shall include an updated agreement to implement Option 3 of the alternates proposed by the applicant to reduce the price for the homes subject to the agreement to not exceed a price which can be paid using 30%or less on an income of 100%AMI and removing the requirement for a 20 year deed restriction. The remaining components of the agreement shall remain as presently constituted except where necessary to implement Option 3. The agreement shall be executed and recorded with the Gallatin County Clerk and Recorder prior to issuance of any building permit for the restricted lots. 2. Revised Condition 1. In exchange for the requested density bonus the property owner shall ensure compliance with Seetio 18.36.090.E f r affordable housing standards for development of the three affordable lots noted on the plan. 3. Revised Condition 6. The final PUD plan shall ^dd..ess the'Means revise the agreement by which the affordable housing will be provided to mitigate the proposed density bonus agreeable to the City of Bozeman and the G n H A B At ., inini_....,m the The method of denatien distribution shall be proportionately dispersed with the number of building permits released and the units shall be deed rest6e4ed with the City listed ., .,A y to the r-est6etiea. Code Requirements community planning zoning subdivision review annexation historic preservation neighborhood planning urban design GIS a. A complete final is application shall be submitted to tolanning Department within one calendar year of the date the City Commission findings of fact are signed per Section 38.20.060.A.1. b. Section 38.19.1101 states that the right to a conditional use permit shall be contingent upon the fulfillment of all general and special conditions imposed by the Conditional Use Permit . procedure. All special conditions and code provisions shall constitute restrictions running with the land, shall be binding upon the owner of the land, his successors or assigns, shall be consented to in Writing by the applicant prior to commencement of the use and shall be recorded as such with the Gallatin County Clerk and Recorder's Office by the property owner prior to the . final site plan approval or commencement of the use. All of the conditions and code provisions specifically stated under any conditional use listed in this title shall apply and be adhered to by the owner of the land, successor or assigns. c. The final PUD shall comply with the standards identified and referenced in the Bozeman Municipal Code except where a deviation or other exception has been explicitly amended. The " applicant is advised that unmet code provisions, or code provisions that are not specifically listed as conditions of approval, does not, in any way, create a waiver or other relaxation of the lawful requirements of the Bozeman Municipal Code or state law. d. Applicant shall provide with the final PUD application a written summary addressing on the conditions of approval have been met, both specific and code provisions outlined in the staff report, as well as related code provisions provided by the City Engineer's Office and Planning Office. Note: Future Impact Fees - Please note that future building permit applications will require payment of the required transportation, water, sewer and fire impact fees according to the City of Bozeman adopted impact fee schedule in place at the time of building permit issuance. If you desire an estimate of the required impact fees (according to current rates) please contact the Planning Office. We will send under separate cover the revised agreement to modify the affordable housing deed restriction and a record of decisions. These will need to be executed and recorded at the Gallatin County Clerk and Recorder's office (per the code provisions noted above). Please review the Agreement to ensure that all information is listed correctly. If it is correct, then the document should be signed, notarized and recorded prior to submitting your final site plan application. A photocopy of the recorded documents should be submitted in your final site plan application materials. This decision of the City Commission is subject to appeal to district court in accordance with Section 38.35.080.B, BMC. If you have any questions, please don't hesitate to contact me. Respectfully, Chris Saunders Assistant Director CC: file Page 2 I NOTICE OF PUBLIC HEARINGS t FOR AN AMENDMENT TO A PLANNED UNIT DEVELOPMENT An application has been sub- i mitted to amend the conditions of approval for the Creekwood Planned Unit Development to revise requirements for the provision.of affordable housing in conjunction with the devel- opment of the Creekwood sub- division. The application is pro- posed by the one of the prop- erty owners in the,develop. ment, Andy Ebbigausen, PO Box 930 Manhattan MT 59741. i The proposal would revise the terms of an agreement be- tween the original land owners and the City of Bozeman which was created to fulfill a condition j of approval for the construction I� of affordable housing within the o subdivision in exchange for an allowance for additional resi- dential density. The agreement , affects property which is legally described as: Lots 25, 26, 37, 38, 39, 40, 48, and 52, Creek- wood Subdivision, Section 32, T 1 S R 6E, City of.Bozeman, Gallatin County,Montana. The Bozeman City Commis- sion will conduct a public hear- ing amendment to the Planned Unit Development application on Monday, May 14, 2012 in the City Commission. Room, City Hall, 121 N Rouse Avenue Bozeman MT at 6:00 pm. The City invites the public to comment in writing and to at- tend the public hearings. Writ- ten comments may be directed to the City of Bozeman, De- partment of Planning and Com- munity Development, P. O. , Box 1230, Bozeman, MT 59771-1230. The application materials may be reviewed in the City of Bozeman Depart- ment of Planning and Commu- nity Development, Alfred M. Stiff Professional Building, 20 East Olive Street, 582-2260. For those who require accom- modations for disabilities, . please contact James Goehrung, City of Bozeman ADA Coordinator, 582-3200 (voice), 582-3203(TDD). #Z-05085A Creekwood Planned Unit Development Modifications AFFIDAVIT OF PUBLICATION 295116 662863 STATE OF MONTANA ) )SS. LEGAL#1473 BOZEMAN PLANNING County of Gallatin ) PO BOX 1230 BOZEMAN MT 59771 D FE C E O W IE MAY 10 2012 C/ I ) H ck.- � � ing duly sworn, deposes and says; that he/she DEPARTMENT OF PLANNING is legal ad clerk of the Bozeman Daily Chronicle, AND COMMUNITY DEVELOPMENT - --a-newspaper of general circulation, printed and published in Bozeman, Gallatin County, Montana; and that the notice here unto annexed NOTICE OF PUBLIC HEARINGS #Z-05085A CREEKWOOD has been correctly published in the regular and entire issues of every number of said paper for 2 insertions. Said notice was published on: 04/29/2012 05/06/2012 Subscribed and sworn to before me this 8th day of May 12012 Nota blic for the State of ana Residing at Bozeman, Montana t%DAB(, GLENNDA BURTON A ?o NOTARY PUBLIC for the * SEAL * State of Montana Residing at Bozeman,MT � '�� My Commission Expires June 28,2012 al s- -Z- Z6� ��V� of c� td dde e Id L L. &(1 2 G CV-C C- 0 � )i C4ael e�_) /� -_ G � , �- Z ZQG_ c. �- � � f Yti 6. • • ii ii �i u i� u i i ii u ii u u u u ii ii i i u i i i i C� ellz !K Z 2- O Flo RSW -te.vTs ;.,q��QJ�;•��,p•c.-�c c'fc�s c J A Af<1. 6.11 —A _A4.s�� • s i i i ii i ii i �i i u i u u �i ii Inter-office Original to: City of Bozeman Planning Department 20 East Olive Street RELEASE OF BUILDING PERMIT RESTRICTIONS CREEKWOOD PUD SUBDIVISION,BOZEMAN, MONTANA NOTICE IS HEREBY GIVEN to all potential purchasers of certain Lots in Creekwood PUD Subdivision which is described herein, that the final plat of the subdivision was approved by the Bozeman City Commission with a condition that restricts full usage of some of the lots of the subdivisions until certain affordable housing actions have been met. THEREFORE, BE ADVISED, that the restriction on the issuance of building permits on Lot 38, is released. DATED this day of May, 2012. THE CITY OF BOZEMAN Tim McHarg Planning Director STATE OF MONTANA ) :ss County of Gallatin ) On this day of May, 2012, before me, a Notary Public for the State of Montana, personally appeared Tim McHarg, known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. (Signature above) (Seal) (Printed Name above) Notary Public for State of Montana Residing at: Commission Expires: (Use 4 digits for expiration year) Creekwood PUD Subdivision: Notice of Building Permit Restrictions CI*OF BOZEMAN 10 DEPARTMENT OF PLANNING AND COMMUNITY DEVELOPMENT Alfred M. Stiff Professional Building phone 406-582-2260 20 East Olive Street fax 406-582-2263 P.O. Box 1230 planning@bozeman.net Bozeman, Montana 59771-1230 www.bozeman.net NOTICE OF PUBLIC HEARINGS FOR AN AMENDMENT TO A PLANNED UNIT DEVELOPMENT An application has been submitted to amend the conditions of approval for the Creekwood Planned Unit Development to revise requirements for the provision of affordable housing in conjunction with the development of the Creekwood subdivision. The application is proposed by the one of the property owners in the development, Andy Ebbigausen, PO Box 930, Manhattan MT 59741. The proposal would revise the terms of an agreement between the original land owners and the City of Bozeman which was created to fulfill a condition of approval for the construction of affordable housing within the subdivision in exchange for an allowance for additional residential density. The agreement affects property which is legally described as: Lots 25, 26, 37, 38, 39, 40, 48, and 52, Creekwood Subdivision, Section 32, T IS R 6E, City of Bozeman, Gallatin County, Montana. You are receiving this notice because you are the current owner of record for a property within 200 feet of the affected site, or have otherwise been identified as an interested or affected party. PUBLIC HEARING BOZEMAN CITY COMMISSION Monday, May 14, 2012 6:00 p.m. Commission Meeting Room Bozeman City Hall 121 N. Rouse Avenue Bozeman, Montana The City invites the public to comment in writing and to attend the public hearings. Written comments may be directed to the City of Bozeman, Department of Planning and Community Development, P. O. Box 1230, Bozeman, MT 59771-1230. The application materials may be reviewed in the City of Bozeman Department of Planning and Community Development, Alfred M. Stiff Professional Building, 20 East Olive Street, 582-2260. For those who require accommodations for disabilities, please contact James Goehrung, City of Bozeman ADA Coordinator, 582-3200 (voice), 582- 3203 (TDD). #Z-05085A Creekwood Planned Unit Development Modifications MAP ON BACK community zoning subdivision annexation historic neighborhood urban GIs planning review preservation planning design Subject Property R-1 0. o R-1 ao'� County Land A Page 2 NOTICE OF PUBLIC HEARS FOR AN AMENDMENT TO A POED UNIT DEVELOPMENT An application has been submitted to amend the conditions of approval for the Creekwood Planned Unit Development to revise requirements for the provision of affordable housing in conjunction with the development of the Creekwood subdivision. The application is proposed by the one of the property owners in the development, Andy Ebbigausen, PO Box 930 Manhattan MT 59741. The proposal would revise the terms of an agreement between the original land owners and the City of Bozeman which was created to fulfill a condition of approval for the construction of affordable housing within the subdivision in exchange for an allowance for additional residential density. The agreement affects property which is legally described as: Lots 25, 26, 37, 38, 39, 40, 48, and 52, Creekwood Subdivision, Section 32, T IS R 6E, City of Bozeman, Gallatin County,Montana. The Bozeman City Commission will conduct a public hearing amendment to the Planned Unit Development application on Monday, May 14, 2012 in the City Commission Room, City Hall, 121 N Rouse Avenue Bozeman MT at 6:00 pm. The City invites the public to comment in writing and to attend the public hearings. Written comments may be directed to the City of Bozeman, Department of Planning and Community Development, P. O. Box 1230, Bozeman, MT 59771-1230. The application materials may be reviewed in the City of Bozeman Department of Planning and Community Development, Alfred M. Stiff Professional Building, 20 East Olive Street, 582-2260. For those who require accommodations for disabilities, please contact James Goehrung, City of Bozeman ADA Coordinator, 582-3200 (voice), 582-3203 (TDD). #Z-05085A Creekwood Planned Unit Development Modifications SUBMITTED THURSDAY, 4/26/12 FOR SUNDAYS, 4/29/12 and 5/6/12 LEGAL AD PUBLICATION. PLEASE PRINT BOLD WHERE INDICATED,AND SEND AFFIDAVIT TO BOZEMAN DEPARTMENT OF PLANNING & COMMUNITY DEVELOPMENT. CITAF BOZEMAN • DEPARTMENT OF PLANNING AND COMMUNITY DEVELOPMENT Alfred M. Stiff Professional Building phone 406-582-2260 ... ,,, 20 East Olive Street fax 406-582-2263 P.O. Box 1230 planning@bozeman.net Bozeman, Montana 59771-1230 www.bozeman.net NOTICE OF PUBLIC HEARING FOR AN AMENDMENT TO A PLANNED UNIT DEVELOPMENT An application has been submitted to amend the conditions of approval for the Creekwood Planned Unit Development to revise requirements for the provision of affordable housing in conjunction with the development of the Creekwood subdivision. The application is proposed by the one of the property owners in the development, Andy Ebbigausen, PO Box 930, Manhattan MT 59741. The proposal would revise the terms of an agreement between the original land owners and the City of Bozeman which was created to fulfill a condition of approval for the construction of affordable housing within the subdivision in exchange for an allowance for additional residential density. The agreement affects property which is legally described as: Lots 25, 26, 37, 38, 39, 40, 48, and 52, Creekwood Subdivision, Section 32, T 1 S R 6E, City of Bozeman, Gallatin County, Montana. PUBLIC HEARING BOZEMAN CITY COMMISSION Monday, May 14, 2012 6:00 p.m. Commission Meeting Room Bozeman City Hall 121 N. Rouse Avenue Bozeman, Montana The City invites the public to comment in writing and to attend the public hearings. Written comments may be directed to the City of Bozeman, Department of Planning and Community Development, P. O. Box 1230, Bozeman, MT 59771-1230. The application materials may be reviewed in the City of Bozeman Department of Planning and Community Development, Alfred M. Stiff Professional Building, 20 East Olive Street, 582-2260. For those who require accommodations for disabilities,please contact James Goehrung, City of Bozeman ADA Coordinator, 582-3200 (voice), 582- 3203 (TDD). #Z-05085A Creekwood Planned Unit Development Modifications Subject Property R-1 o R-1 o e�* County :an/ community zoning subdivision annexation historic neighborhood urban GIs planning review preservation planning design CIOF BOZEMAN y Dc RTMENT OF PLANNING AND AM MUNITY DEVELOPMENT Alfred M.Stiff Professional Building phone 406-582-2260 -.. 20 East Olive Street fax 406-582-2263 P.O. Box 1230 planning@bozemon.net Bozeman, Montana 59771-1230 www.bozeman.net April 5, 2012 Andy Ebbighausen PO Box 930 Manhattan, MT 59741 RE: Creekwood PUD Affordable Housing Amendment Application (#Z-05085A) Dear Mr. Ebbighausen: The above-referenced subdivision pre-application was received on March 30, 2012 and met the application deadline of 5:00 P.M. on Wednesday, April 4, 2012. The application was reviewed in accordance with the submittal checklists and Title 38 of the Bozeman Municipal Code (BMC) and appears to meet the submittal requirements. Therefore, the application has been deemed acceptable for'.. initial review. We have yet to determine whether the application and required submittal materials contain the detailed supporting information that is adequate to allow for the review process to continue beyond the DRC. You will be notified regarding the adequacy of the application on or before April 20, 2012. The Planning Department will review the application and will coordinate with the Community Affordable Housing Advisory Board (CAHAB). The CAHAB meeting date has not yet been set. We will provide that information to you as soon as it is available. The recommendation on the application will be provided to the City Commission as part of the regular packet materials. A copy on the staff report and recommendation will be provided to you. The City Commission is tentatively scheduled to hold the public hearing on this project on Monday, May 14, 2012, at 6 pm, in the City Commission Meeting Room, City Hall, 121 N. Rouse Avenue, Bozeman, Montana. If you have any questions, please don't hesitate to contact me. Respectfully, �Z7 Chris Saunders Assistant Director CC: file community planning zoning subdivision review annexation historic preservation neighborhood planning urban design GIS Chris Saunders From: Dave Skelton Sent: Wednesday, April 04, 2012 10:43 AM To: John Alston; Bob Risk; Dustin Johnson; Chris Saunders; John Vandelinder; Jack Coburn Cc: Thom White Subject: RE: Z-05085A Creekwood PUD amendment Dustin, a new subdivision application might be awhile for this site. If they are significant issues in terms of health, safety and welfare I would recommend you have them resolve the punch list in some capacity before issuance of any more building permits. If there is no LOC on these improvements, at least get a new one if you don't want to hold up building permits. David P. Skelton Senior Planner City of Bozeman 20 East Olive Street P.O. Box 1230 Bozeman, MT 59771-1230 Phone: (406) 582-2260 Fax: (406) 582-2263 E-Mail: dskeltonobozeman.net From: John Alston Sent: Wednesday, April 04, 2012 9:15 AM To: Bob Risk; Dustin Johnson; Chris Saunders; John Vandelinder; Jack Coburn Cc: Thom White; Dave Skelton Subject: RE: Z-05085A Creekwood PUD amendment I with Dustin on this one we have tried all other means to get this work done, unfortunately it has come to this. From: Bob Risk Sent: Wednesday, April 04, 2012 9:06 AM To: Dustin Johnson; Chris Saunders; John Alston; John Vandelinder; Jack Coburn Cc: Thom White; Dave Skelton Subject: RE: Z-05085A Creekwood PUD amendment Dustin- This may be a last resort for you, but I believe that you do have the authority to not allow us to issue any new building permits in the subdivision until your punch list items are all completed. Hopefully it won't come to that, but if it does, we're here for you. Bob From: Dustin Johnson Sent: Tuesday, April 03, 2012 1:21 PM To: Chris Saunders; John Alston; John Vandelinder; Bob Risk; Jack Coburn 1 Cc: Thom White; Dave Skelton • Subject: RE: Z-05085A Creekwood PUD amendment This subdivision never completed all of the necessary public infrastructure items that were brought up during the final walkthrough and the two year warranty walkthrough. All previous attempts to get at least the major items rectified never proved to be fruitful. I know Al Rominger had some struggles with their bonding company on a few water related issues. It would be my preference to require the punch list be completed prior to any new applications for this subdivision. That is if we have legal authority to do so. From: Chris Saunders Sent: Tuesday, April 03, 2012 11:24 AM To: John Alston; John Vandelinder; Bob Risk; Jack Coburn; Dustin Johnson Cc: Thom White; Dave Skelton Subject: Z-05085A Creekwood PUD amendment DRC members, We have received an application to amend the Creekwood PUD to change a condition of approval relating to affordable housing requirements in exchange for a residential density bonus.The proposed amendment changes the text of the requirement. It makes no difference to lot boundaries,open spaces, or public utilities. It does not appear to me that DRC review of the application is required. If you have an interest in reviewing the application please let me know. Chris Saunders, AICP Assistant Director Department of Planning and Community Development City of Bozeman, MT Phone 406-582-2260 Fax 406-582-2263 2 Ec, Engineering and Surveying,Inc. 1091 Stoneridge Drive• Bozeman, Montana 59718•Phone(406)587-1115 Fax(406)587-9768 www.chengineers.com•E-Nail: info@chengineers.com November 3,'2008 City of Bozeman Engineering Dept. Attn: Dustin Johnson P.O. Box 1230 Bozeman,MT 59771-1230 RE: One year warranty walk through inspection for Creekwood Subdivision(05522). Dear Dustin, On October 31,2008, a walk through inspection was conducted at Creekwood Subdivision to identify any warranty items. The following items were noted during the inspection and will need to be completed prior to release of bonds and termination,of the warranty: General Items: 1. The fire hydrants with faded paint,chips and blemishes need to be repainted. Jon Alston, Superintendent of the Water and Sewer Department shall be notified following completion. Walk Thru Notes: 2. The manhole covers labeled"Storm Sewer"need to be removed and replaced with City standard"Sanitary Sewer"covers on SSMH#9, SSMH#11 and SSMH#12-1. Any storm sewer manholes with sanitary sewer covets on them shall be replaced with storm sewer covers. 3. The 8" sanitary sewer pipe in SSMH#10 is cracked. 4. The valve box at station.5+28 on Creekwood Driveoust south of Boylan Drive)needs to' be straightened. 5. A blow off hydrant either needs to be installed.or exposed on the water line at the west end of Boylan Road. Civil/Structural Engineering and Surveying 6. The asphalt needs to be removed from interior of SSMH#12,at the intersection of Creekwood Drive and Boylan Road. 7. Yellow curb paint needs to be installed in front of the hydrant on Creekwood Drive at station 7+64(the northern end of Creekwood Drive,just south of the cul-de-sac): 8. The auxiliary valve box lid needs to be lowered at the hydrant on Creekwood Drive at station 7+64. 9. The grout used for grade adjustment in the following manholes on Boylan Road needs to be removed and replaced with a concrete grade ring or poly ring acceptable to the City: SSMH#15, SSMH#18, SSMH#19& SSMH#24 10. Backfill needs to be placed to finished grade around hydrant#3,north of the cul-de-sac at station 14+60 on Boylan Road. A fresh coat of paint also needs to be applied to this hydrant. 11. Settlement is apparent around SSMH#27. The settled area needs to be repaired and the rim on SSMH#27 needs to be adjusted to match the finished grade. 12. The top section of the'valve box on Boylan Road just north of the intersection with Bridger Drive needs to be lowered to grade. 13. The top section on the valve box at station 5+21.65 on the north side of Bridger Drive has been destroyed. The top section and lid needs to be replaced and lowered to match existing grade. 14. The hydrant at station 0+65 on Creekwood Drive either needs to be lowered or the surrounding grade needs to be'raised to 0.20'below the hydrant bury line. 15. Rocks need to be removed from SSMH47 on Creekwood Drive north of Bridger Drive. 16. The rim elevation on SSMH#10-1 needs to be lowered to existing grade. 17. The valve box on the valve just west of the alley pavement needs to be lowered to match the surrounding grade. . 18. Manhole lids with one pick hole(SSMH#10-2&SSMH#10-3)need to be replaced with City of Bozeman standard manhole lids. 19. The valve box at station 18+25 on the alley needs to be straightened. 20 A 12'wide gravel access road needs to be constructed along the entire length of the alley. 21. The scrap piece of ductile iron pipe in the alley easement at approximately station 12+15 needs to be removed. . 22. The valve box on the hydrant auxiliary valve at station 5+38.5 on the south side of Bridger Drive needs to be lowered. 23. Grading needs to be completed around the valve box at the tie in on the south side of Bridger Drive to eliminate the low point. The valve box needs to be lowered to match the new grade. Please let me know if there are any additional items I may have missed during our walk-thru: Sincerely, y ' M y as a erman,P. — cc: Tim Blevins John Alston 1 CITY OF BOZEMAN FEE APPLIES- K DEPARTMENT OF PLANNING AND COMMUNITY DEVELOPMENT Alfred M. Stiff Professional Building _ phone 406-582-2260 20 East Olive Street �1Nj� `�;;� . —fax 406-582-2263 -A� Ate' a i'\: , P.O. Box 1230 JNINNtJId jpp� � loze an.net Bozeman, Montana 59771-1230 an.net D 0z 0 �dW DEVELOPMENT REVIEW APPLICATIO 1.Name of Project/Development: e 2.Property Owner Information: Name: � E-mail Address: Mailing Addr ss: �D. 6ok- `33O Phone: L FAX: 3.Applica t Information: Name: XSs. E-mail Address: Mi gin Addr Phone: FAX: 4. Representative Information: 1 Name: ) E-mail Address: Mailing Ad e v�� ss: Phone: FAX: 5. Legal Description: U62�2QG� 5� (")3i45— 6. Street Address: ' ;Z( 7. Project Description: m G r p p 1 e-Gon ST/'vcT /��La��4 blt ays/wG yr teic v 1, 8.Zoning Designation(s): 9. Current Land Use(s): 10. Bozeman Community Plan Designation: 11. Gross Area: Acres: Square Feet: 12.Net Area: Acres: Square Feet: Page 1 Appropriate Review Fee Submitted ❑ CITY OF ROZEHAN REPRINT f!! CUSTOM RECEIPT fff Oper: PROFCASH Type: EP Drarer: 1 Date: 4/06/12 01 Receipt no: 140474 Descrip12on Quantity Amount PZ 0 PLANNING 6 ZONING 1.00 $1700.00 t ERRIGHAUSEN HMO, INC. . Tender detail CK CHECK 1347 $1700.00 Total tendered $17N.00 Total payment $1700.00 Trans date: 3130112 Time: 11:27:01 THANK YOUi i i • 13. Is the subject site within an urban renewal district? ❑ Yes,answer question 13a No,go to question 14 13a.Which urban renewal district? ❑Downtown ❑ Northeast(NURD) ❑ North Th Avenue 14. Is the subject site within an overlay district? ❑ Yes,answer question 14a K No,go to question 15 14a.Which Overlay District? ❑ Casino ❑ Neighborhood Conservation ❑ Entryway Corridor 15.Will this application require a deviation(s)? ❑ Yes,list UDC section(s): No 16.Application Type (please check all that apply): ❑O.Planned Unit Development—Concept Plan ❑A.Sketch Plan for Regulated Activities in Regulated Wetlands ❑P.Planned Unit Development—Preliminary Plan ❑B.Reuse,Change in Use,Further Development Pre-9/3/91 Site ❑Q.Planned Unit Development—Final Plan ❑C.Amendment/Modification of Plan Approved On/After 9/3/91 ❑R.Planned Unit Development—Master Plan ❑D.Reuse,Changc in Use,Further Development,Amendment/COA ❑S.Subdivision Pre-application ❑E.Special Temporary Use Permit ❑T.Subdivision Preliminary Plat ❑F.Sketch Plan/COA ❑U.Subdivision Final Plat ❑G.Sketch Plan/COA with an Intensification of Use ❑V.Subdivision Exemption ❑H.Preliminary Site Plan/COA ❑W.Annexation ❑I.Preliminary Site Plan ❑Z.Zoning Map Amendment ❑J.Prelirrinary Master Site Plan ❑Y.Unified Development Ordinance Text Amendment KK. Conctional Use Permit ❑Z.Zoning Variance ❑L.Conditional Use Permit/COA ❑AA.Growth Policy Map Amendment ❑M.Administrative Project Decision Appeal ❑BB.Growth Policy Text Amendment ❑N.Administrative Interpretation Appeal ❑Other: This application must be accompanied by the appropriate checklist(s),number of plans or plats,adjoiner information and materials,and fee (see Development Review Application Requirements and Fees). The plans or plats must be drawn to scale on paper not smaller than 81/2- by 11-inches or larger than 24-by 36-inches folded into individual sets no larger than 81/2-by 14-inches. The name of the project must be shown on the cover sheet of the plans. If 3-ring binders will be used,they must include a table of contents and tabbed dividers between sections. Application deadlines are Wednesdays at 5:00 pm. This application must be signed by both the applicant(s) and the property owner(s)(if different)before the submittal will be accepted. As indicated by the signature(s) below, the applicant(s) and property owner(s) submit this application for review under the terms and provisions of the Bozeman Municipal Code. It is further indicated that any work undertaken to complete a development approved by the City of Bozeman shall be in conformance with the requirements of the Bozeman Municipal Code and any special conditions established by the approval authority. I acknowledge that the City has an Impact Fee Program and impact fees may be assessed for my project.Further,I agree to grant City personnel and other review wency representatives access to the subject site during the course of the review process (Section 38.34.050,BMC). I(We)hereby ce ' that e above information is true and correct to the best of my(our)knowledge. Applicant's Signature: Date: Applicant's Signature: Date: Property Own is Signature: Date: Property Owner's Signature: Date: Page 2 (Development Review Application—Prepared 11/23/03;Amended 9/17/04,5/1/06;9/18/07,revised 11/14/11) TO: Members of the Bozeman City Commission FROM: Andrew Ebbighausen RE: Creekwood PUD DATE: February 23, 2012 My name is Andy Ebbighausen of Ebbighausen Homes. I have purchased or have purchases pending for the remaining unsold inventory in Creekwood PUD in the City of Bozeman. Several of the lots that I have as pending purchases have building permit restrictions on them relating to the Affordable Housing Agreement entered into by the original developer,who is no longer associated with the development. I would like to request an amendment or restructuring of the Affordable Housing Conditions of Approval for the Creekwood PUD for the following reasons: First, the change in the economy has significantly altered the price point of homes in Creekwood from its original conception. The clear intent of the Affordable Housing Condition was to have a mixed income within Creekwood. The original thought was that most the homes would be upper income homes; the Affordable Housing Condition would allow three"Affordable Homes" in the subdivision. The agreement uses 120%of Area Median Income as the threshold. By today's HRDC's numbers that would put the affordable housing cost at$358,385.85(See attached Affordability Assessment). That is based on only 5%down. If a person used a conventional loan program with a standard 20%down the home would be in the mid$400,000 range. By this standard every home I have built so far in the subdivision meets the Affordable Housing Condition (many more than the original three the city intended). I currently have two homes available for sale in the$370k range. Yet many lots still have building restrictions against them because the specific lots identified for Affordable Housing Conditions have not been built on. The second reason to modify the conditions is the 20 year deed restriction attached to the lots as part of the requirement. This creates an essentially unmarketable property. If a qualified Buyer for a home of$350,000 looks at homes in Bozeman,they will have a solid selection from neighborhoods like Alder Creek, legends,Westridge, Baxter Meadows West,Valley West,etc. The deed restriction that limits their potential return on their home will surely not be an appealing investment. Moreover, it creates an inherent problem in the lending world. The value of the home is tied to labor and income markets rather than the real estate market. For instance, if a Buyer purchased the home under the HRDC assumptions provided using 5%down,they could have a mortgage of$340,000. It would only take a small drop in Area Median Income to lower the purchase price qualification to below that amount,thereby forcing the homeowner and lender into a short sale scenario. lenders will certainly have a problem loaning with this restriction on a property. There is some confusion with the language as the condition is written as well. It states the property owner shall construct"The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shah I n t less t anh the selling price of a house affordable to a family of 4 earning 120%of the area median income."(See attached Affordable Housing Conditions of Approval and Agreement for Creekwood Planned Unit Development,#z-0585. Page 2 under the second condition of requirement). In other words, the way it is written is that the least expensive affordable home that could be built would start at$358,385.85 and go up from there. Suggested Options: Option 1 We provide documentation that the Affordable Housing Condition's on three or more lots in the subdivision have been met(other than the 20 year deed restriction)and the Affordable Housing Condition be deemed as met and the remaining lots with building permit restrictions be lifted. Option 2 The Affordable Housing Conditions stay just the way they are except the 20 year deed restriction lifted. Option 3 The Affordable Housing Condition stay just the way they are only the AMI moves from 120%to 100%and the 20 year deed restriction is lifted. Obviously option 1 is the easiest and cleanest. The original intent of a diverse income in the subdivision is already being met..The homes along the creek are more expensive and the lots along the highway (were the building permit restrictions are)will necessarily have to be marketed at a much lower price than the rest of the subdivision in order for them to sell. We know the city is trying to do its part in,helping the local economy. Currently in Creekwood subdivision there are lots that cannot be sold and built on until the Affordable Housing Condition is met. We appreciate your help Attachment 1 Hi Sharon—I have run a quick calc for an affordable home for a household of four earning 120%AMI ($80,050). Calc and assumptions are below.Thanks. i Affordability Assessment $ Max Annual Income (HH4 at 120%AMI) 80,050.00! Max monthly income 6,670.83</tr> Max housing payment 30% 2,001.25 less estimated escrows 20.00% 400.25 Principal and Interest Payment 1,601.00 Present Value of Principal and Interest Payment Loan Term (years) 30 I Interest Rate 3.875% ' Maximum Mortgage 340,466.56 I Max LTV 95% 340,466.56 Maximum purchase price 358,385.85 Required Down payment 5.00% 17,919.29 I Assumptions: 30 year,fixed rate mortgage with 5%down-payment required Interest rate is MBOH regular bond program rate on 12/06/11 Escrows are estimated at 20%of mortgage payment i in this regard. i Attachment 2 I 1 I 3-444 ! i Inter-office Original to: II I IIIIII IIIII IIIII IIIIII lIII�(III IIIIIII III IIIII III)IIII 2245091A City of Bozeman Shelley Vance-Gallatin Cc MT ntse 49.00 Planning Department 20 East Olive Street d i 1 9 AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEK-WOOD PLANNED UNIT DEVELOPMENT,#2r05085 THIS AGREEMENT is made and entered into this %lo day of 1e�r j,r,2006, by and between Oakwol i Properties, LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman, MT 59718, hl reinafter called the "Property Owner", and the City of Bozeman, a Municipal Corporation an�political subdivision of the State of Montana,with offices at 411 East Main Street,P.O.Box 1230,Bozeman,MT 59771-1230,hereinafter called the"City". WHEREAS,the undersigned Property Owner acknowledges the receipt of a Conditional Use Permit(CUP)for a Planned Unit Development(PUD)from the City of Bozeman to establish a unified development plan of a 37.66 acre subdivision for the development of 53 single-household lots with the following requested relaxation from the City of Bozeman Municipal Code: Section 18.16.040.B Lot Area for'R-S Residential Suburban Lots to allow a 30 percent density bonus as permitted under Section 1�8.36.090.E. WHEREAS,the subject property is legally described as the E'/2,SE'/4 of Section 32,Tl S, R6E,PMM,City.of Bozeman,Gallatin County,Montana;and WHEREAS,the CUP granted a density bonus in exchange for the following two Affordable Housing conditions: 1 1. In exchange for the requested density bonus the Property Owner shall ensure compliance with Section 18.3 i.090.E for development of the three affordable lots noted on the plan. Creekwood PUD Affordable Housing #Z-05085 Page I of 7 Y ' 2245091�s2o7IIIIII Hill 11111111111111111111111111111 Hill 111111111 : Shelley Vance-Gallatin Co MT RISC 49.00 2. The Final PUD Plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus,agreeable to the City of Bozeman, with input from the HRDC. At a minimum,the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listedlas party to the restriction. WHEREAS,the PIroperty Owner wishes to receive approval of the final PUD plan,final plat,and to obtain building permits. I WHEREAS,it is the intent and purpose of both the Property Owner and the City to hereby enter into an Agreement Which will guarantee the full and satisfactory completion of the required I conditions described herein; and it is the intent of this Agreement, and of the parties hereto, to satisfy the requirements land guarantee completion of the conditional approval of said CUP application. NOW,THEREFORE,in consideration of the mutual covenants and conditions contained herein,it is hereby agreed as follows: 1.Requirement The Property Owner is responsible for providing three (3) lots with constructed dwelling units within the Creekwood Subdivision for use as affordable housing.The Property Owner agrees that this requirement shall be limited in the following manner. 1. The Property Owner shall provide the equivalent of three(3)affordable lots with constructed dwelling units within the Creekwood Subdivision. 2. The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 120%of the Area Median Income.Documentation of this calculation shall be dated not'sooner than 60 days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision to the City of Bozeman,and therefore may equal up to but not exceeding Ca total of 6 lots in the Creekwood Subdivision. 4. if the Property Owner selects an option with an appraisal requirement,the Property Owner shall provide appraisals from a certified real estate appraiser.The appraisal fee shall be the responsibility of the Property Owner. The appraisal shall be conducted not sooner than 60 days from the submittal. 5. The Property Owner shall be responsible for all costs associated with escrow,including but not limited to maintaining and managing the escrow account,costs for disbursing the deeds, charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, closing escrow and other costs. 6. This agreement Shall be fully completed within 18 months of Final Plat approval. Creekwood PUD Affordable Hlousing #Z-05085 Page 2 of 7 I n I IIIIII IIIIItll�l IIII�I�III�IIII IIIIIII III IIII IIII II 12os 3 of 7 Shelley Vane-Gallatin Co MT MISC 49.00 2.Options The following options shall be available to the Property Owner on an equivalent value(lot for lot, dwelling unit for dwelliig unit) basis in fulfillment of the above described affordable housing conditions. 1. The Property Owt er shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, as defined in Section 1, paragraph 2 above! 3. The Property Owner shall market for sale, and make all reasonable efforts to sell,to an income qualified individual, an affordable lot with constructed dwelling unit within the Creekwood Subdivision with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual. In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual. If said unit has failed to sell to an income-qualified individual within 6 months after completion, said unit may then be sold without deed restriction and thel Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 4. The Property Owner shall market for sale, and make all reasonable efforts to sell,to an income qualified individual,an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will lie owned by an income-qualified individual,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision.In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual.If said unit has failed to sell to an income-qualified individual within 6 months after completion,said unit may then be sold without deed restriction and the Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman'shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision,as defined in Section 11,paragraph 2 above. Creekwood PUD Affordable Housing #Z-05085 Page 3 of 7 I I j I IIIIII(IIII N�8�NIII III�I II I IIII�I III IIIII II I III 2245f 7 ip Shelley Vance-Gallatin Co Mr MISC 49.00 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owner shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded lot(s)and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 7. The Property Own shall deed an affordable lot to the Promisco Family Trust with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual.The Trust will then build a dwelling unit and sell the unit to an income-qualified individual.The Trust may hold the mortgage for said individual. The Trust will be responsible for providing annual recertification of the homeowner to HRDC. 3.Phasing i Based on fulfillment of the affordable housing requirements,the following phasing shall be in force. 1. Upon approval of the Final Plat: • 39 unrestricted building permits may be issued. • 3 building permits restricted to Lots 32, 39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37,38139,40,52,and 53 may not be sold and the deeds shall be held in escrow by a neutral]third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman.These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. The Property Owner shall have the option of providing alternative security to be used as the financial guarantee,provided the method,terms and amount of security are approved by the City. • This agreement shall restrict the issuing of building permits on lots 3,8,17,24,34, 37,38,40,d4,45,and 53.A notice of building permit restriction will be recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. 2. A proportionate share of the restricted lots will be released for building permits and/or sale in relation to partial completion of this agreement. 3. This agreement shall be fully completed within 18 months of Final Plat approval. 4. if Lots 32,39 or 52 have not been utilized for deed restricted affordable dwelling units in completion of this agreement,then the City of Bozeman will lift the requirement for those lots to be used as such. 4.Default 9 If the Property Owner should default or fail to fully perform any of its obligations in conformance with the time schedule und!r this Agreement,and such default or failure shall continue for a period of thirty(30)days after written notice specifying the default is deposited in the United States mail addressed to the Property Owner at Oakwood Properties.LLC(Kelly Taylor).607 Professional i Creekwood PUD Affordable NO using #Z-05085 Page 4 of 7 EI f 4 4�IIII{IIII I{I{�(IIIII I�411 IIII II11�I III(III III II�{ 2245091p Sheller Vance-Gallatin Cc MT MISC 49.00 Drive.Suite 3,Bozeman,MT 59718,or such other address as the Property Owner shall provide to the City from time to time without being completely remedied,satisfied,and discharged,the City may elect to enforce any of the following specified remedies: a. The City may,at its option,declare the financial guarantee to be forfeited at a rate of 2 lots for each equivalent value of an affordable lot with constructed dwelling unit within the lCreekwood Subdivision, and shall secure the He of up to but not exceeding 6 lots. b. The City may enforce any other remedy provided by law. 5. Governing Law and Venue This Agreement shall be construed under and governed by the laws of the State of Montana. In the event of litigation concerning this Agreement,venue is in the Eighteenth Judicial District Court, Gallatin County,State of Montana. 6. Attorney's Fees In the event it becomes ne`essary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs,,including fees,salary and costs of in-house counsel including City Attorney. 7. Modifications or Alterations No modifications or amendment of this Agreement shall be valid,unless agreed to in writing by the parties hereto. I 8. Invalid Provision The.invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 9. No Assignment The responsibilities and benefits of this Agreement to the Property Owners may not be assigned without the express written approval of the City.Such approval may not be withheld unreasonably, but any unapproved assignment is void.There is no prohibition on the right of the City to assign its rights under this Agreement.The City shall release the original Property Owners from their liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors i Creekwood PUD Affordable Housing #Z-05085 Page 5 of 7 1 9 I IIIIIIIIIIIIIIIIIIIIIIIIIII'1���I11fliI�ulll�llll� 22 1 2006 45091Q Shallev Vance-Gallatin Ca MT RISC 49.00 Except as provided in paragraph 9,this Agreement shall be binding upon,inure to the benefit of,and be enforceable by the parties hereto and their respective heirs,successors and assigns. 11.Filing The Property Owner shall have this Agreement recorded in the Office of the Gallatin County Clerk and Recorder at the same Le the Final Plat is filed. DATED THIS DAY OF ✓,2006. PROPERTY OWNE O&wdod/rop664s,LLC By Kell Taylor,Managing Member STATE OFjh ,t!, j :ss County off ) On this, ((o 0— day of n(..{-b k►­ 2006,before me,the undersigned,a Notary Public for the State of Montana,personally appeared Kelly Taylor,known to me to be the Manaeinr� Member, Oakwood Properties, LLC, the company that executed the within instrument, and acknowledged to me that fie executed the same for and on behalf of said company. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my Notarial Seal the day and year first above wntten. VLX." pM ,r (Signature above) ...1....t C,`% (Printed Name above) y , Notary Public for State of Montana Residing at: buta,I��- _ Commission Expires: 3�f 7_007 :.. ... L' (Use 4 digits for expiration year) THE ITY F BOZEMAN Creekwood PUD Affordable[{ousing #Z-05085 Page 6 of 7 i s {NIIII IIIII IIIII 2245091 17I IN I Rill 111111111111111 Shellev Vence-Gallatin Cc MT MISC 49.00 Andrew C.Epple,AICP Planning Director STATE OF MONTANA �) County of Gallatin )s On this 1( L day of f0L,,— , 2006, before me, a Notary Public for the State of ,Montana,personally appeared Andrew C.Eonle,AICP,known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman,whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City.; IN WITNESS WI-IEREOFi,I have hereunto set my hand and affixed my seal on the day and year first written above. (Si1g1nature above) `tSea � 1 (Printed Name above) c, I Notary Public for State of Montana m Residing at: Commission Expires: 31Z 212L©O 9 (Use 4 digits for expiration year) 1 i I 6 Creekwood PUD Affordable Housing #Z-05085 Page 7 of 7 9 NEIGHBORHOOD RECOGNITION ORDINANCE COMPLIANCE CERTIFICATE On December 10, 2007 the Bozeman City Commission adopted the Neighborhood Recognition Ordinance as part of the Bozeman Municipal Code.This new ordinance contains the following requirement: Section 2.05.1230, Responsibilities of Individuals or Entities Submitting an Application to the Department of Planning and Community Development. A. In order for the City Liaison to.effectively perform their duties executing the intent and purpose of this chapter, as defined in 2.05.1230,the following shall be performed: 1. As part of any application to the Department of Planning and Community Development,the applicant shall provide written notice via certified mail,e-mail, facsimile transmission, and/or personal delivery to the City Liaison if notification guidelines (BMC 38.40)require that notice be posted"on-site",published in the local newspaper or mailed first class. 2. Such notice shall contain a complete set of application materials as submitted to the Department of Planning and Community Development. B. Failure to provide proof of such mailing via certified mail, e-mail and/or facsimile transmission report to the most recent City Liaison address,e-mail address and/or fax number of record,or an affidavit attesting hand delivery,shall result in an incomplete app ation. I, �Z",/ , hereby certify that I have delivered via certified mail, e- mail, facs' transmission or han �eli ry written notice and a complete set of application materials for the project known as u in compliance with Section 2.05.1230 of the Bozeman Muni�6 gal Code. I further understand that failure to comply will result in this application-being deemed incomplete an ay res ' a delay in the review of this project. 'gnature Date (Neighborhood Recognition Ordinance Compliance Certificate—Prepared 1/7/08,revised 11/14/11) NEIGHBORHOOD RECOGNITION ORDINANCE COMPLIANCE CERTIFICATE On December 10, 2007 the Bozeman City Commission adopted the Neighborhood Recognition Ordinance as part of the Bozeman Municipal Code.This new ordinance contains the following requirement: Section 2.05.1230, Responsibilities of Individuals or Entities Submitting an Application to the Department of Planning and Community Development. A. In order for the City Liaison to effectively perform their duties executing the intent and purpose of this chapter, as defined in 2.05.1230,the following shall be performed: 1. As part of any application to the Department of Planning and Community Development,the applicant shall provide written notice via certified mail, e-mail, facsimile transmission,and/or personal delivery to the City Liaison if notification guidelines (BMC 38.40)require that notice be posted"on-site",published in the local newspaper or mailed first class. 2. Such notice shall contain a complete set of application materials as submitted to the Department of Planning and Community Development. B. Failure to provide proof of such mailing via certified mail, e-mail and/or facsimile transmission report to the most recent City Liaison address, e-mail address and/or fax number of record,or an affidavit attesting hand delivery,shall result in an incomplete application. hereby certify that I have delivered via certified mail, e- mail, facsimile transmission or hand delivery written notice and a complete set of application materials for the project known as in compliance with Section 2.05.1230 of the Bozeman Municipal Code. I further understand that failure to comply will result in this application being deemed incomplete and may result in a delay in the review of this project. Signature Date (Neighborhood Recognition Ordinance Compliance Certificate—Prepared 1/7/08,revised 11/14/11) r - _ ._ i �/- �1�� � CERTIFICATE OF ADJOINING PROPERTY OWNERS LIST I, A ( hereby certify that, to the best of my knowledge, the attached name and address list of all adjoining grope owners (including all individual condominium owners)within 200 feet of the property located at is a true and accurate list from the last declared Gallatin County tax records. I further understand that an inaccur�- li/mayelay review of the project. i Signature (Certific/ofAdJoining Property Owners List—Prepared 11/20/03;Revised 9/22/06) CERTIFICATE OF ADJOINING PROPERTY OWNERS LIST hereby certify that, to the best of my knowledge, the attached name and address list of all adjoining property owners (including all individual condominium owners)within 200 feet of the property located at , is a true and accurate list from the last declared Gallatin County tax records. I further understand that an inaccurate list may delay review of the project. Signature (Certificate of Adjoining Property Owners List—Prepared 11/20/03;Revised 9/22/06) CC� C 0 [ TO: Members of the Bozeman City Commission FROM: Andrew Ebbighausen MAR 3 Q 2012 DEPARTMENT OF PLANNING RE: Creekwood PUD AND COMMUNITY DEVELOPMENT DATE: February 23, 2012 My name is Andy Ebbighausen of Ebbighausen Homes. I have purchased or have purchases pending for the remaining unsold inventory in Creekwood PUD in the City of Bozeman. Several of the lots that I have as pending purchases have building permit restrictions on them relating to the Affordable Housing Agreement entered into by the original developer,who is no longer associated with the development. I would like to request an amendment or restructuring of the Affordable Housing Conditions of Approval for the Creekwood PUD for the following reasons: First, the change in the economy, has significantly altered the price point of homes in Creekwood from its original conception. The clear intent of the Affordable Housing Condition was to have a mixed income within Creekwood. The original thought was that most the homes would be upper income homes; the Affordable Housing Condition would allow three"Affordable Homes" in the subdivision. The agreement uses 120%of Area Median Income as the threshold. By today's HRDC's numbers that would put the affordable housing cost at$358,385.85 (See attached Affordability Assessment). That is based on only 5%down. If a person used a conventional loan program with a standard 20%down the home would be in the mid$400,000 range. By this standard every home I have built so far in the subdivision meets the Affordable Housing Condition (many more than the original three the city intended). I currently have two homes available for sale in the$370k range. Yet many lots still have building restrictions against them because the specific lots identified for Affordable Housing Conditions have not been built on. The second reason to modify the conditions is the 20 year deed restriction attached to the lots as part of the requirement. This creates an essentially unmarketable property. If a qualified Buyer for a home of$350,000 looks at homes in Bozeman,they will have a solid selection from neighborhoods like Alder Creek, Legends,Westridge, Baxter Meadows West,Valley West,etc. The deed restriction that limits their potential return on their home will surely not be an appealing investment. Moreover, it creates an inherent problem in the lending world. The value of the home is tied to labor and income markets rather than the real estate market. For instance, if a Buyer purchased the home under the HRDC assumptions provided using 5%down,they could have a mortgage of$340,000. It would only take a small drop in Area Median Income to lower the purchase price qualification to below that amount,thereby forcing the homeowner and lender into a short sale scenario. Lenders will certainly have a problem loaning with this restriction on a property. There is some confusion with the language as the condition is written as well. It states the property owner shall construct"The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 120%of the area median income."(See attached Affordable Housing Conditions of Approval and Agreement for Creekwood Planned Unit Development,#z-0585. Page 2 under the second condition of requirement). In other words,the way it is written is that the least expens vi a affordable home that could be built would start at$358,385.85 and go up from there. Suggested Options: Option 1 We provide documentation that the Affordable Housing Condition's on three or more lots in the subdivision have been met(other than the 20 year deed restriction) and the Affordable Housing Condition be deemed as met and the remaining lots with building permit restrictions be lifted. Option 2 The Affordable Housing Conditions stay just the way they are except the 20 year deed restriction lifted. Option 3 The Affordable Housing Condition stay just the way they are only the AMI moves from 120%to 100%and the 20 year deed restriction is lifted. Obviously option 1 is the easiest and cleanest. The original intent of a diverse income in the subdivision is already being met. The homes along the creek are more expensive and the lots along the highway (were the building permit restrictions are)will necessarily have to be marketed at a much lower price than the rest of the subdivision in order for them to sell. We know the city is trying to do its part in helping the local economy. Currently in Creekwood subdivision there are lots that cannot be sold and built on until the Affordable Housing Condition is met. We appreciate your help Attachment 1 Hi Sharon—I have run a quick calc for an affordable home for a household of four earning 120%AMI ($80,050). Calc and assumptions are below.Thanks. Affordability Assessment Max Annual Income (HH4 at 120%AMI) 80,050.00 Max monthly income 6,670.83</tr> Max housing payment 30% 2,001.25 less estimated escrows 20.00% 400.25 Principal and Interest Payment 1,601.00 Present Value of Principal and Interest Payment Loan Term (years) 30 Interest Rate 3.875% Maximum Mortgage 340,466.56 Max LTV 95% 340,466.56 Maximum purchase price 358,385.85 Required Down payment 5.00% 17,919.29 Assumptions: 30 year,fixed rate mortgage with 5%down-payment required Interest rate is MBOH regular bond program rate on 12/06/11 Escrows are estimated at 20%of mortgage payment in this regard. Attachment 2 Y ; J-444 IIIIIII�I� U���IIIIII III IIII IIIIIII I����I'I II I�I�I 2245@91 'minal to: QCity of Bozeman Shelley ante Gallatin Co Mr MISC 49.00 Planning Department 20 last Olive Street AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT,#Z-05085 /e / THIS AGREEMENT is made and entered into this Flo day of ���i�+ 2006, by and between Oakwood Properties. LLC (Kelly Taylor), 607 Professional Drive, Suite 3, Bozeman, MT 59718, hereinafter called the "Property Owner", and the City of Bozeman, a Municipal Corporation and political subdivision of the State of Montana,with offices at 411 East I Main Street,P.O.Box 1230,Bozeman,MT 59771-1230,hereinafter called the"City". WHEREAS,the undersigned Property Owner acknowledges the receipt of a Conditional Use Permit(CUP)for a Planned Unit Development(PUD)from the City of Bozeman to establish a unified development plan!of a 37.66 acre subdivision for the development of 53 single-household lots with the following requested relaxation from the City of Bozeman Municipal Code: Section 18.16.040.B Lot Area for R-S Residential Suburban Lots to allow a 30 percent density bonus as permitted under Section 18.36.090.E. WHEREAS,the subject property is legally described as the E'/a,SE'/a of Section 32,T1 S, I R6E,PMM,City of Bozeman,Gallatin County,Montana;and 1 WHEREAS,the CUP granted a density bonus in exchange for the following two Affordable Housing conditions: 1. In exchange for the requested density bonus the Property Owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. Creekwood PUD Affordable Housing #L-05085 Page i of Y ' 111111 Hill 1111111111111111111111111111111111111I IIII 224 of 7 5091p Shelley Vance-Gallatin Cc Mr MISC 49.00 2. The Final PUD Plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus,agreeable to the City of Bozeman, with input from the HRDC. At a minimum, the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listed I as party to the restriction. WHEREAS,the Property Owner wishes to receive approval of the final PUD plan,final plat,and to obtain building permits. i WHEREAS,it is the intent and purpose of both the Property Owner and the City to hereby I enter into an Agreement which will guarantee the full and satisfactory completion of the required I conditions described herein; and it is the intent of this Agreement, and of the parties hereto,to satisfy the requirements and guarantee completion of the conditional approval of said CUP application. I NOW,THEREFORE,in consideration of the mutual covenants and conditions contained herein,it is hereby agreed,as follows: 1.Requirement I The Property Owner is responsible for providing three (3) lots with constructed dwelling units within the Creekwood Subdivision for use as affordable housing.The Property Owner agrees that I this requirement shall be limited in the following manner. 1. The Property Owner shall provide the equivalent of three(3)affordable lots with constructed dwelling units within the Creekwood Subdivision. 2. The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 120%of the Area Median Income.Documentation of this calculation shall be dated not iooner than 60 days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision to the City of Bozeman,and therefore may equal up to but not exceeding�a total of 6 lots in the Creekwood Subdivision. 4. If the Property Owner selects an option with an appraisal requirement,the Property Owner shall provide appraisals from a certified real estate appraiser.The appraisal fee shall be the responsibility of the Property Owner. The appraisal shall be conducted not sooner than 60 days from the submittal. 5. The Property Owner shall be responsible for all costs associated with escrow,including but not limited to maintaining and managing the escrow account,costs for disbursing the deeds, charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, closing escrow and other costs. 6. This agreement shall be fully completed within 18 months of Final Plat approval. Creekwood PUD Affordable Housing ##Z-05085 Page 2 of 7 I I IIIIIIIIIIillll�IIIII(IIIIII��IIII�IIIIIIIIIIIIIIII 2245f 7 Shelley Vance-Gallatin Cc MT M16C 49.00 2.Options The following options shall be available to the Property Owner on an equivalent value(lot for lot, dwelling unit for dwelling unit) basis in fulfillment of the above described affordable housing conditions. 1. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, as defined in Section 1, paragraph 2 above. 3. The Property Owrier shall market for sale, and make all reasonable efforts to sell,to an income qualified individual, an affordable lot with constructed dwelling unit within the Creekwood Subdivision with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual. In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual. If said unit has failed to sell to an income-qualified individual within 6 months after completion, said unit may then be sold without deed restriction and thel Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 4. The Property Owner shall market for sale, and make all reasonable efforts to sell, to an income qualified individual,an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision.In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual.If said unit has failed to sell to an income-qualified individual within 6 months after completion,said unit may then be sold without deed restriction and the Property Owner shall. pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman'shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision,as defined in Section 1,paragraph 2 above. Creekwood PUD Affordable Housing #L-05085 Page 3 of 7 1 ' I I��III 1�IIl illll IIIIII IIII IIII I�IIIII II�III I II'I IIII 2245f 7 A Shelley Vanes-Gallatin Co MT MISC 09.00 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owrier shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded lot(s)and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 7. The Property Owrier shall deed an affordable lot to the Promisco Family Trust with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual.The Trust will then build a dwelling unit and sell the unit to an income-qualified individual.The Trust may hold the mortgage for said individual. The Trust will be responsible for providing annual recertification of the homeowner to HRDC. 3.Phasing II Based on fulfillment of the affordable housing requirements,the following phasing shall be in force. I 1. Upon approval of the Final Plat: • 39 unrestricted building permits may be issued. • 3 building permits restricted to Lots 32, 39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37,38139,40,52,and 53 may not be sold and the deeds shall be held in escrow by a neutral third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman.These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. The Property Owner shall have the option of providing alternative security to be used as the financial guarantee,provided the method,terms and amount of security are approved by the City. • This agreement shall restrict the issuing of building permits on lots 3,8, 17,24,34, 37,38,40,44,45,.and 53.A notice of building permit restriction will be recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. 2. A proportionate share of the restricted lots will be released for building permits and/or sale in relation to partial completion of this agreement. 3. This agreement shall be fully completed within 18 months of Final Plat approval. 4. If Lots 32,39 or 52 have not been utilized for deed restricted affordable dwelling units in completion of this agreement,then the City of Bozeman will lift the requirement for those lots to be used as such. 4.Default i If the Property Owner sho l Id default or fail to fully perform any of its obligations in conformance with the time schedule under this Agreement,and such default or failure shall continue for a period I of thirty(30)days after written notice specifying the default is deposited in the United States mail addressed to the Property IOwner at Oakwood Properties.LLC(Kelly Taylor),607 Professional Creekwood PUD Affordable Housing #Z-05085 Page 4 of 7 I I IIIIII(III)IIIB IIIIII IIIII IIII IIIIII!III IIIII IIII IIII 2245f 7 Sheller Vance-Gallatin Cc MT MISC 49.00 I Drive.Suite.' Bozeman. AT 59718,or such other address as the Property Owner shall provide to the City from time to time!without being completely remedied,satisfied,and discharged,the City may elect to enforce any of the following specified remedies: a. The City may,at its option,declare the financial guarantee to be forfeited at a rate of 2 lots for each equivalent value of an affordable lot with constructed dwelling unit within the:Creekwood Subdivision, and shall secure the title of up to but not exceeding 6 lots. b. The City may enforce any other remedy provided by law. I 5. Governing Law and Venue I This Agreement shall be construed under and governed by the laws of the State of Montana. In the I event of litigation concern I ing this Agreement,venue is in the Eighteenth Judicial District Court, Gallatin County,State of Montana. 6. Attorneys Fees In the event it becomes ne Iessary for either party to this Agreement to retain an attorney to enforce I any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs,,including fees,salary and costs of in-house counsel including City Attorney. 7. Modifications or Alterations I No modifications or amendment of this Agreement shall be valid,unless agreed to in writing by the parties hereto. 8. Invalid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 9. No Assignment The responsibilities and benefits of this Agreement to the Property Owners may not be assigned I without the express written'approval of the City.Such approval may not be withheld unreasonably, but any unapproved assignment is void.There is no prohibition on the right of the City to assign its I rights under this Agreement.The City shall release the original Property Owners from their liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors Creekwood PUD Affordable Housing #Z-05085 Page 5 of 7 A 111111Hill11111111111Hill ll oil1I11111111111 Page: 24 12006 J091A Shelley Vane-Gallatin Co MT HISG 49.00 Except as provided in paragraph 9,this Agreement shall be binding upon,inure to the benefit of,and I be enforceable by the parties hereto and their respective heirs,successors and assigns. 11.Filing I The Property Owner shall have this Agreement recorded in the Office of the Gallatin County Clerk and Recorder at the same time the Final Plat is filed. DATED THIS YG DAY OF -✓,2006. PROPERTY Owl leL---- OA*,do-d/rop66ie`s,LLC By Kelt Taylor,Managing Member i STATE OF(Q ) ss County of �.{ � ) On this I(o fi" day of C,k kV-v` ,2006,before me,the undersigned,a Notary Public for the State of Montana,personally appeared Kelly Taylor,known to me to be the Manaeine Member, Oakwood Properties, LLC, the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said company. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. (Signature above) �^ % (Printed Name above) r, Notary Public for State of Montana ��. z h Residing at: Ate L�bUtP�iytO�3 /Z�� ti _ . Commission Expires: 1 7 a' (Use 4 digits for expiration year) . • I i Ii j THE ITY F BOZEMAN i Creekwood PU ousing #Z-05085 Page 6 of 7 I t I � � 45091 1111031111111111111110116/2006 Q Sheller Vance-Gallatin Ca MT MISC 49.00 Andrew C.Epple,AICP Planning Director STATE OF MONTANA ':ss County of Gallatin ) On this IL�day of Lx I0LAr— , 2006, before me, a Notary Public for the State of Montana,personally appeared Andrew C.Epple,AICP,known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman,whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City.I IN WITNESS WHEREOF,I have hereunto set my hand and affixed my seal on the day and year first written above. (Si attire above) (Printed Name above) �� G+ Notary Public for State of Montana Residing at: 6ULflWw4l't.— Commission Expires: 312— 7 �C) (Use 4 digits for expiration year) � a Creekwood PUD AfFordable Housing NZ-05085 Page 7 of 7 TO: Members of the Bozeman City Commission DFDEPARTMENT K FROM: Andrew Ebbighausen RE: Creekwood PUD DATE: February 23, 2012 - My name is Andy Ebbighausen of Ebbighausen Homes. I have purchased or have purchases pending for the remaining unsold inventory in Creekwood PUD in the City of Bozeman. Several of the lots that I have as pending purchases have building permit restrictions on them relating to the Affordable Housing Agreement entered into by the original developer,who is no longer associated with the development. I would like to request an amendment or restructuring of the Affordable Housing Conditions of Approval for the Creekwood PUD for the following reasons: First, the change in the economy has significantly altered the price point of homes in. Creekwood from its original conception. The clear intent of the Affordable Housing Condition was to have a mixed income within Creekwood. The original thought was that most the homes would be upper income homes; the Affordable Housing Condition would allow three "Affordable Homes" in the subdivision. The agreement uses 120%of Area Median Income as the threshold. By today's HRDC's numbers that would put the affordable housing cost at$358,385.85 (See attached Affordability Assessment). That is based on only 5%down. If a person used a conventional loan program with a standard 20%down the home would be in the mid $400,000 range. By this standard every home I have built so far in the subdivision meets the Affordable Housing Condition (many more than the original three the city intended). I currently have two homes available for sale in the$370k range. Yet many lots still have building restrictions against them because the specific lots identified for Affordable Housing Conditions have not been built on. The second reason to modify the conditions is the 20 year deed restriction attached to the lots as part of the requirement. This creates an essentially unmarketable property. If a qualified Buyer for a home of$350,000 looks at homes in Bozeman,they will have a solid selection from neighborhoods'like Alder Creek, Legends,Westridge, Baxter Meadows West, Valley West,etc. The deed restriction that limits their potential return on their home will surely not be an appealing investment. Moreover, it creates an inherent problem in the lending world. The value of the home is tied to labor and income markets rather than the real estate market. For instance, if a Buyer purchased the home under the HRDC assumptions provided using 5%down,they could have a mortgage of$340,000. It would only take a small drop in Area Median Income to lower the purchase price qualification to below that amount,thereby forcing the homeowner and lender into a short sale scenario. Lenders will certainly have a problem loaning with this restriction on a property. There is some confusion with the language as the condition is written as well. It states the property owner shall construct"The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 120%of the area median income."(See attached Affordable Housing Conditions of Approval and Agreement for Creekwood Planned Unit Development,#z-0585. Page 2 under the second condition of requirement). In other words,the way it is written is that the least expensive affordable home that could be built would start at$358,385.85 and go up from there. Suggested Options: Option 1 We provide documentation that the Affordable Housing Condition's on three or more lots in the subdivision have been met(other than the 20 year deed restriction)and the Affordable Housing Condition be deemed as met and the remaining lots with building permit restrictions be lifted. Option 2 The Affordable Housing Conditions stay just the way they are except the 20 year deed restriction lifted. Option 3 The Affordable Housing Condition stay just the way they are only the AMI moves from 120%to 100%and the 20 year deed restriction is lifted. Obviously option 1 is the easiest and cleanest. The original intent of a diverse income in the subdivision is already being met. The homes along the creek are more expensive and the lots along the highway (were the building permit restrictions are)will necessarily have to be marketed at a much lower price than the rest of the subdivision in order for them to sell. We know the city is trying to do its part in helping the local economy. Currently in Creekwood subdivision there are lots that cannot be sold and built on until the Affordable Housing Condition is met. We appreciate your help Attachment 1 Hi Sharon—I have run a quick calc for an affordable home for a household of four earning 120%AMI ($80,050). Calc and assumptions are below.Thanks. Affordability Assessment Max Annual Income (HH4 at 120%AMI) 80,050.00 Max monthly income 6,670.83</tr> Max housing payment 30% 2,001.25 less estimated escrows 20.00% 400.25 Principal and Interest Payment 1,601.00 Present Value of Principal and Interest Payment Loan Term (years) 30 Interest Rate 3.875% Maximum Mortgage 340,466.56 Max LTV 95% 340,466.56 Maximum purchase price 358,385.85 Required Down payment 5.00% 17,919.29 Assumptions: 30 year,fixed rate mortgage with 5%down-payment required Interest rate is MBOH regular bond program rate on 12/06/11 Escrows are estimated at 20%of mortgage payment in this regard. Attachment 2 r J-444 J 2245091 Inter-office gy— I I�II IIII� III�IIII III' IIII I III(III(III II 1 City of man Shelley Vance-Gallatin Co Mr MISC 49.08 Planning Department 20 East Olive Street I i AFFORDABLE HOUSING CONDITIONS OF APPROVAL AND AGREEMENT FOR CREEKWOOD PLANNED UNIT DEVELOPMENT,#7-05085 vt THIS AGREEMENT is made and entered into this /lv day of 4 y�..-,2006, I by and between Oakwood Properties. LLC(Kelly Taylor). 607 Professional Drive, Suite 3, Bozeman, MT 59718, hereinafter called the "Property Owner", and the City of Bozeman, a I Municipal Corporation and political subdivision of the State of Montana,with offices at 411 East I Main Street,P.O.Box 1230,Bozeman,MT 59771-1230,hereinafter called the"City". WHEREAS,the undersigned Property Owner acknowledges the receipt of a Conditional Use Permit(CUP)for a Planned Unit Development(PUD)from the City of Bozeman to establish a unified development plan Iof a 37.66 acre subdivision for the development of 53 single-household lots with the following requested relaxation from the City of Bozeman Municipal Code: Section i 18.16.040.B Lot Area for�R-S Residential Suburban Lots to allow a 30 percent density bonus as permitted under Section 1 I 8.36.090.E. WHEREAS,the subject property is legally described as the E'/z,SETA of Section 32,T1 S, R6E,PMM,City of Bozeman,Gallatin County,Montana;and I WHEREAS,the CUP granted a density bonus in exchange for the following two Affordable Housing conditions: I 1. In exchange for the requested density bonus the Property Owner shall ensure compliance with Section 18.36.090.E for development of the three affordable lots noted on the plan. Creekwood PUD Affordable Housing #Z-05085 Page 1 of 7 .I f e I 2245 f7IIIIII(III 111111111111111111111111111111111111111111111111111 ! Shelley Vance-Gallatin Co MT MISC 49.00 2. The Final PUD Plan shall address the means by which the affordable housing will be provided to mitigate the proposed density bonus,agreeable to the City of Bozeman, with input from the HRDC. At a minimum, the method of donation shall be proportionately dispersed with the number of building permits released and the units shall be deed restricted with the City listed as party to the restriction. WHEREAS,the Property Owner wishes to receive approval of the final PUD plan,final plat,and to obtain building permits. WHEREAS,it is the intent and purpose of both the Property Owner and the City to hereby enter into an Agreement Mhich will guarantee the full and satisfactory completion of the required conditions described herein; and it is the intent of this Agreement, and of the parties hereto, to satisfy the requirements and guarantee completion of the conditional approval of said CUP application. NOW,THEREFORE,in consideration of the mutual covenants and conditions contained herein,it is hereby agreed Ls follows: 1.Requirement i The Property Owner is responsible for providing three (3) lots with constructed dwelling units within the Creekwood Subdivision for use as affordable housing.The Property Owner agrees that this requirement shall be limited in the following manner. I I. The Property Owner shall provide the equivalent of three(3)affordable lots with constructed dwelling units within the Creekwood Subdivision. 2. The equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision shall not be less than the selling price of a house affordable to a family of 4 earning 120%of the Area Median Income.Documentation of this calculation shall be dated not sooner than 60 days from the submittal. 3. Failure to complete this agreement shall result in forfeiture of 2 lots within Creekwood Subdivision for each equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision to the City of Bozeman,and therefore may equal up to but not exceedingja total of 6 lots in the Creekwood Subdivision. 4. If the Property Owner selects an option with an appraisal requirement,the Property Owner shall provide appraisals from a certified real estate appraiser.The appraisal fee shall be the responsibility of the Property Owner. The appraisal shall be conducted not sooner than 60 days from the submittal. 5. The Property Owner shall be responsible for all costs associated with escrow,including but not limited to maintaining and managing the escrow account,costs for disbursing the deeds, charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, closing escrow and other costs. 6. This agreement shall be fully completed within 18 months of Final Plat approval. I Creekwood PUD Affordable Housing #Z-05085 Page 2 of 7 i A k 1 i IIIOIIIIIIIIIIII�lilllII�II(II�IIIII�IIIIII�IIIII 2245091 7 IIIII 1 CM 6,2006 10.S6n Sha11GV Varaa-Gallatin Cc MT RISC 09.00 i 2.Options The following options shall be available to the Property Owner on an equivalent value(lot for lot, i dwelling unit for dwelling unit) basis in fulfillment of the above described affordable housing conditions. j 1. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 2. The Property Owner shall deed to the City of Bozeman an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman"shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision, as defined in Section 1, paragraph 2 above 3. The Property Owner shall market for sale, and make all reasonable efforts to sell,to an income qualified individual, an affordable lot with constructed dwelling unit within the Creekwood Subdivision with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual. In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual. If said unit has failed to sell to an income-qualified individual within 6 months after completion, said unit may then be sold without deed restriction and the!Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. ', 4. The Property Owner shall market for sale, and make all reasonable efforts to sell,to an income qualified individual,an affordable lot with constructed dwelling unit outside of the Creekwood Subdivision that is acceptable to the City ofBozeman with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual,and will provide cash in lieu for the shortfall between the appraisal of the deeded property and the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision.In the event the Property Owner has been unable to sell said unit to a qualified individual within 3 months after completion,said unit may then be rented to an income-qualified individual.If said unit has failed to sell to an income-qualified individual within 6 months after completion,said unit may then be sold without deed restriction and the Property Owner shall pay to the City of Bozeman cash in lieu of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. For the purposes of this agreement,"acceptable to the City of Bozeman'shall mean that the value of the affordable lot with constructed dwelling unit approximates as closely as practicable the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision,as defined in Section il,paragraph 2 above. Creekwood PUD Affordable Housing #Z-05085 Page 3 of 7 R i 111111111 Jill 2245f 7 Shelley Vanoa-Gallatin Co MT MISC 49.ee 5. The Property Owner shall pay cash in lieu to the City of Bozeman of the equivalent value of an affordable lot with constructed dwelling unit within the Creekwood Subdivision. 6. The Property Owner shall deed a lot or lots to the City of Bozeman that is acceptable to the City of Bozeman,and will provide cash in lieu for the shortfall between the appraisal of the deeded lot(s)and 'the equivalent value of an affordable lot with constructed dwelling unit within the Creckv good Subdivision. 7. The Property Owner shall deed an affordable lot to the Promisco Family Trust with a deed restriction on the property for a minimum of 20 years with the City listed as party to the restriction that the dwelling unit will be owned by an income-qualified individual.The Trust will then build a dwelling unit and sell the unit to an income-qualified individual.The Trust may hold the mortgage for said individual. The Trust will be responsible for providing annual recertification of the homeowner to HRDC. 3.Phasing i Based on fulfillment of the affordable housing requirements,the following phasing shall be in force. o , 1. Upon approval of the Final Plat: • 39 unrestricted building permits may be issued. • 3 building permits restricted to Lots 32, 39 and 52 for deed restricted affordable dwelling units may be issued. • Lots 37,38 39,40,52,and 53 may not be sold and the deeds shall beheld in escrow by a neutraf third party in order to be used as the financial guarantee in fulfillment of this agreement until either released by the City of Bozeman or deeded to the City of Bozeman.These lots shall be released from escrow proportionate to the fulfillment of the affordable housing requirements. The Property Owner shall have the option of providing alternative security to be used as the financial guarantee,provided the method,terms and amount of security are approved by the City. • This agreement shall restrict the issuing of building permits on lots 3,8,17,24,34, 37,38,40,44,45,and 53.A notice of building permit restriction will be recorded on these lots. These lots shall be released from building permit restriction proportionate to the fulfillment of the affordable housing requirements. 2. A proportionate share of the restricted lots will be released for building permits and/or sale in relation to partial completion of this agreement. 3. This agreement shall be fully completed within 18 months of Final Plat approval. 4. If Lots 32,39 or 52 have not been utilized for deed restricted affordable dwelling units in completion of this agreement,then the City of Bozeman will lift the requirement for those lots to be used as such. 4.Default If the Property Owner should default or fail to fully perform any of its obligations in conformance with the time schedule undp r this Agreement,and such default or failure shall continue for a period of thirty(30)days after written notice specifying the default is deposited in the United States mail addressed to the Property!Owner at Oakwood Properties,LLC(Kelly Taylor),607 Professional 4 Creekwood PUD Affordable Hdusing #Z-05085 Page 4 of 7 is I i 1 ' , i {{ IIIIII t II�IIIIIIIIIIII�IIIIIIIIII�IIIIIIIII�IIIIII�IIIIIIIIII224 of 7 5O91Q Sheller Vance-Gallatin Cc MT M1SC 49.00 Drive..Suite 3,Bozeman,MT 59718,or such other address as the Property Owner shall provide to the City from time to time without being completely remedied,satisfied,and discharged,the City may elect to enforce any of the following specified remedies: a. The City ma y,at its option,declare the financial guarantee to be forfeited at a rate of 2 lots for each equivalent value of an affordable lot with constructed dwelling unit within the jCreekwogd Subdivision, and shall secure the title of up to but not exceeding 6 lots. b. The City may enforce any other remedy provided by law. i 5. Governing Law and Venue This Agreement shall be construed under and governed by the laws of the State of Montana. In the 0 event of litigation concerning this Agreement,venue is in the Eighteenth Judicial District Court, Gallatin County,State of Montana. 6. Attorney's Fees In the event it becomes nee ssary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs,,including fees,salary and costs of in-house counsel including 1 City Attorney. 7. Modifications or Alte ations No modifications or amend ment of this Agreement shall be valid,unless agreed to in writing by the parties hereto. i 8. Invalid Provision The invalidity or unenforc ability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 9. No Assignment The responsibilities and benefits of this Agreement to the Property Owners may not be assigned without the express writtenjapproval of the City.Such approval may not be withheld unreasonably, but any unapproved assignment is void.There is no prohibition on the right of the City to assign its e rights under this Agreement.The City shall release the original Property Owners from their liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 10. Successors i Creekwood PUD Affordable Housing #Z-05085 Page 5 of 7 I y 111111 oil 11 oil III IId 1111III zzas09iA Shelley Vanca-Gallatin Co MT MISC 49.00 Except as provided in paragraph 9,this Agreement shall be binding upon,inure to the benefit of,and i be enforceable by the parties hereto and their respective heirs,successors and assigns. 11.Filing The Property Owner shall (have this Agreement recorded in the Office of the Gallatin County Clerk I and Recorder at the same time the Final Plat is filed. DATED THIS �V DAY OF -✓,2006. PROPERTY OWNE i O od rop ies,LLC By Kell Taylor,Managing Member STATE OF�'1lfufd ) :ss County of 6d On this 16 0- day of 1I C.k 6�y— 2066,before me,the undersigned,a Notary Public for the State of Montana,personally appeared Kelly Taylor,known to me to be the Mana€i'ne Member, Oakwood Properties, LLC, the company that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said.company. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my Notarial Seal the day . and year first above written. VCR," AA fit (Signature above) �Fy� Np 1.Pa,t�, Ei VP vt i�•�rt__ ���'•;�, (Printed Name above) rr, Notary Public for State of Montana I' '• z. -' Residing at: PDtTt,2A440 — '� Commission Expires: ?5 aZ /Zzy 7 j;',•.`...• a' (Use 4 digits for expiration year) =AN Creekwood PUD Affordable I{ousing #Z-05085 Page 6 of 7 1 r 91 224MINIMUM# 0 of 7 06 Shallev Vance-Gallatin Cc MT MISC 49.00 Andrew C.Epple,AICP Planning Director a STATE OF MONTANA ':ss County of Gallatin ) On this I&0^day of Othl a.er , 2006, before me, a Notary Public for the State of Montana,personally appeared Andrew C.EpWe,AICP,known to me to be the person described in and who executed the foregoing instrument as Planning Director of the City of Bozeman,whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City.'; IN WITNESS WHEREOF, I have hereunto set my band and affixed my seal on the day and year first written above. (Signature above) .�Ssajj�j:' •.`��'_ (Printed Name above) Notary Public for State of Montana Residing at: ht107A.Yiv� Commission Expires: 3/2-ZVZoO 9 rt '� '•• ,•;���r (Use 4 digits for expiration year) a d i C 1 i Creekwood PUD Affordable Housing #Z-05085 Page 7 of 7