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Home My WebLink About16 1825 W Kagy_Affordable Housing Plan 4450 Excelsior Boulevard, Suite 400, St. Louis Park, MN 55416 ● (612) 823-3489 Affordable Housing Plan 1825 Kagy Boulevard Development City of Bozeman, Montana 1. Project Overview The proposed development at 1825 Kagy Boulevard is a 100% affordable mul7family housing project consis7ng of 162 residen7al units. All units will be income-restricted and developed in compliance with the City of Bozeman Affordable Housing Ordinance (BMC 38.380). 2. Requested Incenves (BMC 38.380.040) Parking Reduc7on: Provision of one (1) motor vehicle parking space per dwelling unit. Bicycle Parking Compliance: The project will comply with BMC 38.530.050 bicycle parking standards. 3. Affordability Levels and Rent Restricons All units will be leased to households earning no more than 60% of Area Median Income (AMI). Maximum rents will comply with HUD-published 60% AMI limits. 4. Unit Count and Distribuon Total Units: 162 Affordable Units: 162 (100%) Market-Rate Units: 0 5. Income Verificaon and Compliance Management The project will comply with Sec7on 42 LIHTC requirements. Each household will be income cer7fied prior to move-in and will sign a Tenant Income Cer7fica7on. Compliance will be tracked using Yardi property management soBware. 6. Development Standards Compliance (BMC 38.380.050) As a 100% affordable housing project, all units are built to the same finish level. 7. Amenies and Equal Access Ameni7es include a secure package room, fitness center, community room, bike storage, trash/recycling chutes, elevators, dog run, playground, and outdoor sea7ng areas. All residents have equal access. 8. Applicaon of Incenves Across Buildings The development consists of a single building; incen7ves apply uniformly. 4450 Excelsior Boulevard, Suite 400, St. Louis Park, MN 55416 ● (612) 823-3489 9. Unit Mix • 59 One-bedroom units • 59 Two-bedroom units • 44 Three-bedroom units All 162 units will be rented to households earning less than 60% AMI. 10. Locaon of Affordable Units All units are affordable and iden7fied on project plans. 11. Construcon Timeline Es7mated construc7on: December 2026 – June 2028. 12. Phasing The project will be constructed in a single phase. 13. Addional Informaon This plan demonstrates compliance with BMC 38.380 and supports long-term affordable housing in Bozeman.