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HomeMy WebLinkAbout04-07-11 Community Affordable Housing Advisory Board Minutes.docxCity of Bozeman Community Affordable Housing Advisory Board (CAHAB) April 7, 2011 12:30 pm – 2:00 pm City Commission Room, City Hall Attending:      Carson Taylor (City Commissioner), Brian LaMeres (City of Bozeman Finance Department), Kris Keller (Community Representative), Jan Bergman (Community Representative), Dave Magistrelli (Community Representative) Absent (excused): Daniel Simonich (Community Representative), Mary Martin (Community Representative) Staff : Tracy Menuez (HRDC), Brian Krueger (City Planning Department), Doug Riley (City Planning Department), Chris Saunders (City Planning Department) Public: Scott Keiper (Summit Housing), Kevin Spencer (Norton East Representative), Matt Randall (Norton East Representative, Simplicity Homes) The meeting was called to order at 12:35 pm by Chair Brian LaMeres. Tracy Menuez informed Chair LaMeres that there would be changes to the agenda. Action items 1 and 2 will still have review and discussion, however; no action will be taken on the items. Jan Bergman moved to approve the minutes from March 3, 2011. Brian seconded the motion. Minutes were approved as presented. Public Comment – please limit your comments to 3 minutes or less. No public comment was submitted. Action Items Review of letter from MDOC regarding LIHTC Application for Hyalite Apartments Scott Keiper of Summit Housing updated the board on their LIHTC application to the Montana Board of Housing for Hyalite Apartments. While the project did meet the threshold score requirement, it was ranked 6th out of 7 applications and will not likely be funded in this year. Upon review of the scoring, Scott found the items that hurt their application the most were the perception of higher rents and lack of a non-profit partner. Summit plans to keep the option on the property and retool their application for next year’s tax credit funds. They will likely get a non-profit partner involved to get a property tax exemption which would result in lower rents. Despite the perception of higher rents, Scott expressed that he still feels confident in their market study, however; they will re-examine it to be sure that rents are competitive with the subsidized market. Scott would still like a letter from the City to respond to MDOC’s questions regarding the project. Tracy will work with Brian on the City’s response. Request from Hyalite Apartments for impact fee reimbursement Given that proposed project did not receive tax credit funds, the request for impact fee reimbursement was not considered. Scott Keiper of Summit Housing did express to the board that this request would likely be made next year if the project moved forward. Additionally, he requested that the board and city develop a more consistent approach to impact fee reimbursement requests. This would be beneficial to developers of affordable housing, as they would automatically know what type of assistance would be provided. Tracy added that recommending prioritization of affordable housing funds could be added to a future CAHAB agenda. Request from Norton East for changes to WFH plan Kevin Spencer, Norton East representative presented information regarding changes to their individualized WFH plan. They are committed to meeting the requirements of the ordinance, however, they see the deed restrictions as a barrier to selling the properties as they reduce the number of interested purchase and limit financing options. They have met with Tracy and discussed the possibility of using deferred second mortgages to secure any subsidy in the property. The HRDC currently uses deferred seconds in their down-payment program with the Road to Home; their program is currently approved with all of the major secondary lenders. They would like to request that their individualized plan be amended to strike deed restrictions and instead use the Road to Home to administer security of subsidy. Kevin added that they are ready to start building now; they simply need to work out the details of the WFH plan to get started. Tracy will work on information for the planning department, Norton, and the CAHAB to review. Once the program is set up, Norton will come back to CAHAB for approval of their individualized plan amendment. FYI/Discussion Tracy informed the board that the Commission would be setting their workplan priorities at their meeting on April 11th. The priorities that will be submitted from the CAHAB are changes to the workforce housing ordinance, exploration of adoption of the IPMC, and prioritization for the use of affordable housing funds. These recommendations will be submitted to the board’s Commission liaison, Carson. Adjourn The meeting was adjourned at 1:35 by Chair LaMeres.