$10,000 Down Payments for ‘Some’ Bozeman Home Buyers

Monday, April 9 at the Bozeman City Council meeting this may be approved.

MOTION: I move to approve the disbursement of $80,000 to the Human Resource
Development Council to provide down payment assistance in the amount of $10,000 each to eight qualified home buyers for the purchase of Affordable Homes.

It seems that the City’s Affordable Housing Ordinance, allows, money may be used to incentivize the building, sale and purchase of homes that meet the city's
definition of lower-priced affordable homes. The Commission already approved $200,000 to be used for down-payments for some home-buyers. This is being done through Bozeman's Affordable Housing Program.

The home buyers, who want the cash, must meet eligible rules for down-payment assistance requirements for tax payer money if they meet of 80% AMI or below.

This is the first request for down payment assistance and is for eight homes that are being sold as lower-priced homes. Here are the locations:

5583 Arnhem Way

5575 Arnhem Way

5567 Arnhem Way

5557 Arnhem Way

5519 Arnhem Way

5533 Arnhem Way

5603 Arnhem Way

5609 Arnhem Way

The money has been previously approved by the Commission in this year’s budget for the Affordable Housing Program.

Tuesday on AM 1450's Dominick In The Morning, City Commissioner Jeff Krauss, will be asked about the city down payments.

Dominick