HomeMy WebLinkAboutResolution 4057 Establishing Policy for Granting of Big Box Funds
COMMISSION RESOLUTION NO. 4057
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
BOZEMAN, MONTANA, ESTABLISHING A POLICY FOR GRANTING
OF AFFORDABLE HOUSING DOLLARS FROM THE CITY'S
DEVELOPMENT IMPACTS (BIG BOX) FUND.
WHEREAS, the City has dollars in its Development Impacts (Big Box) fund that have been
designated for affordable housing projects in the City; and
WHEREAS, the City's Big Box Task Force recommendation #6 directed Big Box dollars
toward programs and projects that assist with first-time home ownership; and
WHEREAS, the City Commission has determined it necessary to establish criteria upon
which to review a request and base a decision to award dollars;
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana:
Section 1
All requests for City Development Impacts (Big Box) dollars must be submitted in writing to the
Clerk of the City Commission. All requests must include:
1. Full Project Description, including the scope of work and identification of who will
be performing the work.
2. Project Budget, including all sources of funding.
3. Project Timeline.
4. Narrative responses to each rating factor, listed below.
Section 2
All requests will be evaluated and decided based up on the following rating factors:
1. Use of Funds:
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a. Does the request fund first-time home ownership? Preference will be given
to requests that fund first-time home ownership.
b. Is the request for a grant or a loan? If the request is for a loan, how will the
applicant ensure recapture of the funds? Preference will be given to requests
that will recover funds through loans rather than one-time grants.
2. Leveraging of Funds and Match Provided: Requests must document sources of
matching funds for the proposed projects. Sources of matching funds may include
private donations, federal/state government funds, grants and loans. When possible,
provide letters documenting matching sources that have already been secured. If a
match has not been secured, provide documentation regarding expected receipt of
matching funds, including grant application deadlines/procedures, etc.
3. Demonstration of Need for Project: Explain how the proposed project meets a
public need and corresponds with City Commission and public priorities. Cite any
statistics that reinforce the need for the project.
4. Progress Measurement and Reporting: All projects are required to provide a
formal report at the end of the project or program year. Requests must include a
statement of how the applicant will measure progress and success on the project, and
how the applicant will keep the City informed of their progress.
5. Past Performance of the Applicant: Requests will be analyzed based on the past
performance of the applicant. Does the applicant have experience with the project
and/or similar projects? What is the experience of the key staffthat will be directing
the project? How has the applicant performed with City funds in the past, if
applicable? If the applicant has not received City funds in the past, what funding
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sources has the applicant utilized and how was their performance rated? Applicants
must include a list of funding sources they have utilized in the past 2 years, and
contact information for each sources. Sources may be contacted by the City for
verification.
6. Benefit to Low and Moderate Income Persons: Requests that benefit low and
moderate income persons will be given preference. Who will principally benefit
from the proposed project and what are their income levels?
PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana, at a
regular session thereof held on the 20th day of August 2007.
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