HomeMy WebLinkAbout004 - AffordableHousingPlan
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Affordable Housing Plan
1. Description of the requested incentives in section 38.380.040.
The project is a Low-Income Housing Tax Credit project through the Montana Board of
Housing 4% tax credits. All units are below 60% AMI. The duration of affordability will be for
a period of at least 50 years.
The project utilizes Type A Incentives per Section 38.380.040.C.3 of the UDO. Specifically,
item f - Minimum motor vehicle parking requirement of one space per dwelling for all
districts other than B-3; however, the bicycle parking standards and requirements of
section 38.540.050 remain applicable. Without the affordable housing incentives the zoning
code would require 260 parking spaces for the proposed development. We are providing
219 parking spaces (185 off-street/34 on-street). With the type A incentive we are allowed to
provide 149 parking spaces (1 per unit regardless of beds).
2. The applicable AMI and maximum rental rates applicable to each affordable dwelling.
All 149-units in the development will be restricted to 60% AMI and this will be memorialized
by a deed restriction recorded on title.
3. The total number of affordable dwellings, and market-rate dwellings in the development.
The project will contain 149 affordable dwellings and zero market-rate dwellings.
4. Narrative describing how the applicant will ensure the rental of the affordable dwellings is
only to income verified people for the duration of the affordability period. In addition, the
narrative must describe the management system the applicant will use to meet the above
requirement.
The project is being funded with LIHTC financing which requires that only income verified
tenants may occupy the units. Wasatch Property Management will be the property
management agent and currently manages over 5,000 units of affordable housing. The
agent uses affordable housing specific management software to complete initial tenant
verifications and ongoing qualifications to ensure households comply with any and all
LIHTC compliance requirements.
5. A description of how each affordable dwelling will comply with the development standards
of this division.
100% of the multi-household dwelling units will be 60% AMI for 50-years in accordance with
Table 38.380.020-1 qualifying the project for type A, B, and C incentives.
6. A description of common amenities or facilities the applicant will provide and how the
applicant will ensure the occupants of the affordable dwellings will have the same access
to such amenities or facilities.
Access to all common area amenities inclusive of the community room, fitness center,
playground (etc.) will be provided to all households in the development. Since all of the
units are affordable designated, there will not be any inequality in the sharing of amenities.
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7. A description of how each incentive will apply to each building within the development,
regardless of whether the building contains affordable dwellings or market-rate dwellings
or both.
The buildings share a parking lot, with a roughly equal number of parking spaces (including
ADA spaces) in front of each building. The reduction in parking spaces is spread out
between both buildings.
8. The number of bedrooms in each dwelling in the development.
See summary below for buildings A and B.
9. Clearly identify on the preliminary site plan or preliminary plat the specific location of each
affordable dwelling.
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Refer to sheet C100. Each building and each unit in each building is designated for
affordable housing.
10. Information sufficient to determine the timing of construction and distribution of affordable
dwellings and market-rate dwellings throughout the development.
The intent is to break ground in Spring of 2026. All 149 units will be affordable designated.
11. If the development is to be constructed in phases, provide a description of how the
affordable dwellings will be distributed among the phases including whether the applicant
proposes to have any subsequent phase of market-rate dwellings rely on affordable
dwellings provided with earlier phases.
This is not applicable – the project will be constructed in a single phase.
12. Any other information the review authority determines necessary to evaluate the
compliance of the affordable housing plan with the requirements of this division.
If you need any further information, please contact me directly.
Blake Jumper
Tailwater Development
208-831-0674
blake@tailwaterdev.com