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Home My WebLink AboutHousing Presentation 09.12.23City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Community Housing Program Bozeman Strategic Priorities •Develop and Align Infill Policies •Complete Unified Development Code •Housing Choices –development of lasting housing options for underserved individuals and families City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Partnership Framework …no one entity can solve the local housing challenges… CHAP Strategies Strategies –Ongoing (from 2019) Flexible Development Standards –Density bonus incentives Short-Term Rental Regulations –Regulation City adopted 2017; new regulations in development Housing Rehabilitation –CDBG rehab –no grant for Gallatin County Weatherization –income-based Senior Housing –Timber Ridge & Perennial Park Apartments Self Help Build –Lots are too expensive in Bozeman for Habitat for Humanity to build Federal and State Grants/Loans –CDBG/HOME, USDA/Rural Development, Section 8 Funding City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 CHAP Strategies Strategies General Funds Funding –increased funding from $1.2 million fiscal year 2023 to $3.5 million in fiscal year 2024. Tax Increment Financing –5 projects in the development pipeline Community Land Trust –Headwaters Community Housing Trust Partnership, HRDC Willow Springs Employer Assisted Housing –Headwaters Employee Right of Purchase Program Grant Removal of Regulatory Barriers –UDC Update & Code-based Incentives Accessory Dwelling Units (ADU) –Easier & More Flexible Low Income Housing Tax Credits (LIHTC) –Arrowleaf, Perennial Park, Timber Ridge, Lumberyard, N. 3rd Apartments, 7th and Aspen, Darlington Manor, Boulevards Upzoning –UDC Map Update & Density Bonuses Deed Restricted Housing (Permanent) –Required for all AHO & PDZ Developments City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 CHAP Strategies Strategies Inclusionary Zoning Regulation –Prohibited by MT State Legislature Permanent Supportive Housing and Transitional –HRDC Warming Center Grant & Housing First Village Impact Fee Reimbursement Public / Private / Institutional Partnerships –Fire Station 1 Taxes Dedicated to Housing –2021 Ballot Initiative/Mill Levy Home Buyer Assistance Program –Downpayment Assistance Program with IZ Homes Fee Waiver / Deferral Incentive –Pay Impact Fees from Community Housing Fund Co-op Housing Mobile Home Parks –Limited R.O.C. Opportunities Land Banking –Turnrow (Silos) 5 acre parcel City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Partnerships & Grant Funding •NeighborWorks Montana •Community Housing Impact Fund (Revolving Loan Fund) •Human Resource Development Council (HRDC) •Community First Griffin Place (Warming Center) •Headwaters Community Housing Trust •Bridger View Employee Right of Purchase Program (Employee Housing) •Family Promise •A Safe Place to Land (Transitional Housing) •Bozeman Cohousing Neighborhood •Intentional Community (Homeownership) City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Community Housing Program Major Objectives •Creative Solutions to Incentivize Production of Affordable Housing •Low Income Housing Tax Credit Program & Below Market Rentals (80% AMI or Less) •Refocus Efforts to Maximize Unit Creation at 60% to 120% AMI Targets City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Housing Market by Income City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Develop & Align Infill Policies Density Bonus Incentives •Reduced Parking Requirements •Reduced Lot Area & Width •Increased Building Height •Zone Edge Transitions •Setback Adjustments •ADU Standards •Yield Streets City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Unified Development Code •Departures for Affordable Housing •Planned Development Zone (PDZ) •10% of units @ 80% AMI (rental) or 120% AMI (ownership) •Affordable Housing Ordinance (AHO) •Shallow Incentives: 5% of units •Deep Incentives: 50% of units City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Shallow Incentives In September of 2022, the City of Bozeman approved Ordinance 2015. Deep Incentives In September of 2022, the City of Bozeman approved Ordinance 2015. Community Housing Project Pipeline Bozeman Cohousing •$38,020 Grant Agreement •43 new units total •41 units @ market-rate •2 units @ 80% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 The Boötes •AHO Shallow Incentives •30+ year deed restricted •71 new units total •67 units @ market-rate •4 units @ 80% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 The Northern •AHO Shallow Incentives •Midtown URD •TIF Assistance (requested) •30+ year deed restricted •74 new units total •69 units @ market-rate •5 units @ 80% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Wallace Works •AHO Shallow Incentives •Northeast URD •$2M in TIF (requested) •30+ year deed restricted •58 new units total •52 units @ market-rate •6 units @ 80% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Cloverleaf •PDZ Incentives •NEHMU District •$2.2M in TIF •110 new units total •96 @ market-rate •14 units @ 120% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 7th & Aspen •AHO Shallow Incentives •Midtown URD •30+ year deed restricted •40 LIHTC units @ 50% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Blackwood Groves •AHO Shallow Incentives •202 new units total •162 @ market-rate •41 units @ 80% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Fire Station 1 •Downtown URD •$1.6M in TIF Assistance •RFP for Development Team •Public Private Partnership •50 units @ 120% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Truman Flats at Canyon Gate •Development Agreement •30+ year deed restricted •470 new units total •410 @ market-rate •60 units @ 120% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Lumberyard •AHO Shallow Incentives •Midtown URD •$7.5M in TIF •$2.5M Impact Fund •30+ year deed restricted •440 new units total •285 @ market-rate •155 LIHTC units @ 60% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 N 3rd Apartments •AHO Shallow Incentives •$ 1.5M Impact Fund •Capital Improvement Plan •30+ year deed restricted •216 LIHTC units @ 60% AMI City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Program Priorities Summary •Density & Infill •Encouraging use of Departures, AHO, and PDZ ordinances •LIHTC Projects •Long-term affordable housing at deeper levels of affordability •TIF Subsidy •Leveraging TIF in Urban Renewal Districts for Workforce Housing •Partnerships •Prioritizing partnership framework to address community housing needs City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Pipeline Totals •11 affordable developments •1,774 new units total •592 income restricted units Next Steps •Incentives for Density, Infill & Long-term Affordability •LIHTC Development •TIF Subsidy •Partnerships •Community Housing Action Plan Refresh •Entitlement Community for Community Development Block Grant funding •Consolidated Plan •Consider many strategies for creating community housing •Include analysis on creating a housing authority City of Bozeman Community Housing Program Update | Economic Development | David Fine | September 12, 2023 Thank you!