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Affordable Housing

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 Homebuyer FAQs

     These FAQs are intended to assist community members hoping to purchase homes created under the City’s Affordable Housing Ordinance.

Who can purchase a home through this program?
I fit the criteria, what do I do now?
How do I finance my Home?
Can I use Down Payment Assistance (DPA)?
What happens if my income changes from when I purchase to when I sell?
Do I need to work with a realtor? Can I work with my existing realtor?
What do I need to know about occupancy?
What happens when I sell my home purchased through this program?
How long do I need to live in my home before I can sell?
How is HRDC involved?

Affordable Housing Program

     The definition of Affordable is not spending more than 1/3 of your monthly income on housing.  For many, this is not possible.  As Bozeman continues to grow, the City is working to develop a long-term plan to meet the housing needs of all of its residents.  This plan will spur the creation and development of an Affordable Housing Work Plan.   The newly created Affordable Housing Program is a division of the Community Development Department.

City of Bozeman Strategic Plan

   The City Commission has identified Affordable Housing as one of it's strategic goals. 

4.5 Housing and Transportation Choices - Vigorously encourage, through a wide variety of actions, the development of sustainable and lasting housing options for under-served individuals and families and improve mobility options that accommodate all travel modes.

a) Enhance Non-motorized Transportation.

b) Develop a Comprehensive Affordable Housing Action Plan that includes, but is not limited to:

1. Mandates the creation of affordable housing across all dwelling unit types.

2. Provides prescribed flexibility in the manner in which the mandate can be accomplished. 

3. Provides a substantial, broad-based and reliable source of funding for the construction of affordable housing and for affordable housing loans.

4. Actively encourages Bozeman’s major employers to develop workforce housing programs for their employees.

     Want to get involved?  The Community Affordable Housing Advisory Board (CAHAB) meets the 2nd Wednesday of every month and works to help advance the City of Bozeman's Affordable Housing Plan. For more information on other advisory boards, head over to the Citizens Advisory Board's page. 

     Have questions or creative ideas around Affordable Housing?  Contact Loren Olsen, Affordable Housing Program Manager, lolsen@bozeman.net or (406) 582-2953

 

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