HomeMy WebLinkAbout07-09-24 Public Comment - D. Carty - The Guthrie project (App. 23354)_ Request to DenyFrom:Daniel Carty
To:Bozeman Public Comment
Subject:[EXTERNAL]The Guthrie project (App. 23354): Request to Deny
Date:Tuesday, July 9, 2024 7:39:28 AM
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July 9, 2024; 7:40am
To: Bozeman City Commission
Subject: Request to deny The Guthrie development project (App. 23354)
I am writing to add to my July 2, 2024, public comment asking the Bozeman City Commission
(Commission) to deny The Guthrie development project (App. 23354). My additional
argument for asking the Commission to deny the Guthre is as follows:
(1) In my July 2 comment, I argued the developer has mischaracterized 45 studio units/micro-
efficiency units as 1-bedroom units in order to charge rent of $1,745 per month per unit or
$20,940 per year per unit—based on a FY2024 HUD 80% AMI of $69,800 (69,800 x 30% / 12 =
1,745 and 1,745 x 12 = 20,940).
(2) Based on the publication Bozeman 2023 Economic and Market Update (Table 3, page 6),
the median household income for renters in Bozeman is $49,543 per year.
https://www.bozeman.net/home/showpublisheddocument/13746/638446301551230000
(3) Given the median household income for renters in Bozeman is $49,543 per year and
assuming 2,080 work hours per year (52 work weeks per year x 40 hours per work week), then
the estimated median hourly wage in Bozeman is $23.82 per hour ($49,543 / 2,080 = 23.82).
Assuming a rent of $1,745 per month or $20,940 per year (1,745 x 12), then the percentage of
annual gross income that an individual earning Bozeman's median hourly wage would have to
allocate annually to pay for one of the Guthrie's so-called 1-bedroom units is 42.3% (as
follows):
$20,940 rent per year / $23.82 earned per hour = 879.1 hours of work per year to pay rent
879.1 hours of work per year / 2,080 work hours per year = 42.3% of annual gross income
allocated to pay rent.
(4) Consequently, the above calculations support my July 2 public comment that the Guthrie's
so-called 1-bedroom units (which by definition are actually studio units/micro-efficiency units)
are not affordable because an individual earning Bozeman's median wage of $23.82 per hour
would have to allocate 42.3% of their annual gross income to pay rent—which is 12.3% more
than the 30% considered affordable under HUD FY2024 80% AMI for a 1-bedroom unit in
Gallatin County, MT.
Consequently, I reiterate my request that the Commission deny The Guthrie development
project (App. 23354).
Daniel Carty
213 N 3rd Ave
Bozeman, MT 59715
dgc12@hotmail.com
406-548-2810