There is no action requested on this matter. It is simply a statutory requirement that a public hearing to gather public input must be accomplished.

Rose Park Plaza Apartments is a 112-unit affordable housing community for low-income families located in Billings, Montana. The units at the property are currently subject to deed and income restrictions to preserve the affordability of the project, and the parties are planning to apply for the exemption from real property taxes available to qualifying low-income housing tax credit projects under Mont. Code Ann. §15-6-221. Under the application requirements, a unit of local government where the project is located must give notice and hold a public hearing to solicit comment on whether the proposed project meets a community housing need. Rosepark Plaza Apartments LLC, a Montana limited liability company, in partnership with House of David, Inc., a nonprofit corporation specializing in the preservation and development of affordable housing, are requesting this agenda item solely in order to comply with the public hearing requirements under Mont. Code Ann. §15-6-221.

N/A

This public opportunity to comment has no fiscal consequences. The Montana Department of Revenue may grant a property tax exemption, but the project will pay all City fees and assessments.

Rose Park Plaza Apartments is a 112-unit low-income multifamily rental housing complex located at 2325 Avenue C in Billings, Montana, owned by Rosepark Plaza Apartments LLC, a Montana limited liability company. The project currently operates under a 100% Section-8 U.S. Department of Housing and Urban Development (HUD), Housing Assistance Payment (HAP) contract, and the property is subject to a Montana Board of Housing deed restriction that requires the units to be rent-restricted and income-restricted to ensure that the Project continues to provide affordable homes to residents in the Billings community. In addition to the 112 homes that are available to income-qualifying residents at the property, the site also includes various amenities such as laundry facilities, multiple playgrounds, covered parking, and on-site management. The parties are planning to complete certain renovations and improvements to the project to enhance the quality of life for residents through new and improved community amenities and in-home improvements that will make the homes more usable and enjoyable. The rehabilitation plan for the successful revitalization of the property includes various upgrades to address the immediate and long-term needs of the project and its residents through capital improvements, site upgrades, security infrastructure and other exterior and interior enhancements, as more clearly detailed in the project summary provided. These renovations will also focus on system upgrades and improvements and various modifications designed to increase energy efficiency and reduce maintenance expenditures. This project anticipates applying for a real estate property tax exemption and is required to hold a public hearing to solicit public comment on the project in relation to community housing needs. Notice of the public hearing is scheduled to be posted in the Yellowstone County News on February 9, 2024, and February 23, 2024.