The City of Bozeman will pay $60,000 for an in depth study reviewing the effects of its Historic Conservation Overlay District on the local real estate market. There will be a meeting at 6 pm on Tuesday in City Hall to discuss Bozeman’s next steps.
The Historic Conservation Overlay district is in the heart of Bozeman and is designed to protect old historic structures that contribute to Bozeman’s look and culture. The district encompasses 3,000 properties in Bozeman.
If any of these 3,000 properties want to adjust, renovate or change the exterior appearance of their home, city planning needs to review and approve the changes. On average, the city deals with around 300 applicants a year.
The Overlay District was first enacted when 3 historic homes were demolished for a now closed Pizza Hut on Babcock Street. Since its enactment, the district has succeeded to preserve the historic character of Bozeman. Bozeman recently was honored as a top 100 location in the US for livability--and the city's character certainly affected that rating.
Now, Bozeman has grown concerned that they are over impacting home affordability in town. Each new application for approval takes time and money, not just from the property owner, but from the city as well, and therefore the taxpayers. The city and builders alike have tried to find alternatives to help lower home values in Bozeman. The district has also become a highly sought after location in town and the district has seen property values rise. Those values could also be rubbing off on nearby neighborhoods and even affecting all of Bozeman’s affordability.
Bozeman would like to find out whether this is the case or not. The study will make its final presentation to City Commissioners in September.