BOZEMAN – On Monday, the City Commission will discuss a down-payment assistance program for affordable housing.
The program would take $80,000 from the city’s $200,000 Affordable Housing Budget to give to qualified home buyers.
Eight different buyers who make 80% or less of the average median income in the area would get the money to put towards a house.
“That money then goes on to the property, as a lien on the property so when those homes are sold, that $10,000 comes back to the city and we can then use it for the next buyer or somebody else that has requested down payment assistance within the program,” said Director of Community Development Marty Matsen.
According to the city, this is the first time Bozeman buyers have asked for down payment assistance through its Affordable Housing Program.
The eight houses that qualify for this program are located on Arnhem Way, near Durston Road.
