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Consultants tell Bozeman commission 33% affordable set‑aside in 'Ward' could harm development feasibility
Summary
Economic and Planning Systems presented an analysis finding a 33% affordable set‑aside (120% AMI for for‑sale; 60% AMI for rentals) would reduce project feasibility and could make many for‑sale projects infeasible without subsidies; staff framed the briefing as factual information for voters.
Consultants for the City of Bozeman told commissioners on Tuesday that the proposed Bozeman Water Adequacy Initiative (known locally as "Ward") would significantly change the financial feasibility of common housing projects and could deter development without substantial subsidies or incentives.
David Fine, housing and renewal program manager (speaker 27), introduced Brian Dufney (speaker 20), a principal with Economic and Planning Systems (EPS). Dufney summarized EPS’s modeling and said the initiative’s text — which would require roughly a 33% set‑aside of new units as affordable (for‑sale units at 120% AMI; rentals at 60% AMI) — would reduce average project revenues while costs remain…
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