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HomeMy WebLinkAbout01-09-24 Public Comment - N. Nakamura - revenue-neutral funding source for affordable housingFrom:City of Bozeman, MT To:Agenda Subject:[EXTERNAL]*NEW SUBMISSION* Public Comment Form Date:Monday, January 8, 2024 8:44:36 PM CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. Public Comment Form Submission #:2923597 IP Address:69.144.1.59 Submission Date:01/08/2024 8:44 Survey Time:54 minutes, 12 seconds You have a new online form submission. Note: all answers displaying "*****" are marked as sensitive and must be viewed after your login. Read-Only Content Full Name Natsuki Nakamura Email nenakamura4@gmail.com Phone Comments To: The City Commission and the Community Development Board who will send their recommendations to the Commission When the City Commission sets their priorities for the next 2 years, I am sure housing will be discussed. In this discussion, I hope the focus is NOT only on increasing density in order to increase supply. We need a supply of permanently and *truly affordable* housing. In a recent article about the proposed 111-unit Guthrie development, it stated that it would have "50% affordable units," at 80% AMI. Affordable at 80% AMI could mean nearly $1500/month for a 1-bedroom apartment. As someone who makes $25 an hour, that would still be 34% of my income. In regards to priorities around housing, I hope the City of Bozeman considers the following: 1. Investigate all potential tools to address affordable housing. 2. Consider new revenue streams. 3. Use and publicly share data to ensure we are achieving the intended impacts. See attached for more details on each of these. If you would like to submit additional documents (.pdf, .doc, .docx, .xls, .xlsx, .gif, .jpg, .png, .rtf, .txt) along with your comment, you may alternately address agenda@bozeman.net directly to ensure receipt of all information. housing priorities 1.8.24.pdf Thank you, City Of Bozeman This is an automated message generated by Granicus. Please do not reply directly to this email. To: The City Commission and the Community Development Board who will send their recommendations to the Commission In regards to priorities around housing, I hope the City of Bozeman considers the following: 1. Investigate all potential tools to address affordable housing. The Housing Production Fund in Montgomery County is getting national acclaim because it adds a new, revenue-neutral funding source for affordable housing, rather than just slicing up the same scarce resources differently. My understanding is that the City's bond counsel was not consulted to see what it would take to implement a Fund like they have in Montgomery County. Thus, it was assumed in the city staff report that the innovative Montgomery County model was not possible here. But perhaps it IS possible here (short video explaining the funding model here), and perhaps what is needed to successfully implement a fund like theirs is asking voters to approve designating funds for affordable housing, rather than relying on the discretion of Commissioners each budget, which could change with changing Commissioners. 2. Consider new revenue streams. Perhaps the Commission can start a payment in lieu of taxes or PILOT program so that major employers who own a lot of land and are tax exempt, such as MSU or Bozeman Health, start paying a SMALL portion of what their property taxes WOULD be, and have that revenue go toward the housing solution. I know large employers like these are members of the Regional Housing Coalition, but because the coalition meetings are not open to the public, I can’t speak to what resources various coalition members have been willing to pledge so far. 3. Use and publicly share data to ensure we are achieving the intended impacts. Perhaps we can find ways to get the most out of the limited Housing Choice Vouchers our region receives. The housing authority in Missoula has 1022 housing vouchers and last month reported utilizing 85% of them. Butte has 483 vouchers with an 84% utilization rate. Helena has 401 vouchers and an 83% utilization rate. Montgomery County, Maryland has 7770 vouchers and a 98% utilization rate. HRDC administers housing vouchers locally here, but as a field agent and not a housing authority, their voucher utilization information is not publicly available. Unofficially, I have heard HRDC having around 400 vouchers to serve all of Gallatin, Meagher, and Park Counties, and around 100 of the vouchers going unused any given month. The City should work with HRDC to have voucher utilization rates publicly published so that we can see how it fits in the bigger picture of housing trends, and ensure that increases in vacancy rates are leading to increases in voucher utilization rates. Thank you for your consideration.