$ 27 million in additional federal funds to fund affordable housing in Montana

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HELENA – An additional $ 27 million in federal funds and tax credits has been allocated to fund affordable housing projects in Montana, providing nearly 1,000 rental units in 14 communities, the Commerce Department of the United States said on Monday. ‘State.

“As Montana’s economy continues to prosper, it is crucial that our workers and their families have a place to call home,” said Director of Commerce Scott Osterman. “We will continue to work alongside our housing partners to provide quality and affordable housing to our friends and neighbors. “

The money will finance construction or rehabilitation funds for 18 separate projects, in cities large and small.

Some of the projects are completed and preparing to be leased, but needed additional financial assistance, while others are just getting started and will not be completed for another one to two years, the state said.

The allowance is in addition to the $ 22.6 million in federal housing tax credits announced in October by the State Housing Council, to fund projects in Billings, Great Falls, Dillon and Kalispell.

The latest round of funding includes $ 15 million in federal COVID-19 funds approved by Democrats in Congress in March, $ 6.7 million in additional federal tax credits and $ 5.3 million in housing subsidies.

The largest of this second round of awards is $ 6.5 million in RiverView Apartment Credits at Big Sky, creating 25 new units.

“We appreciate the confidence expressed by the Montana Board of Housing in presenting this award, which will help Big Sky address its urgent and critical shortage of workforce housing,” said Laura Seyfang of the Big Sky Community Housing Trust.

Other awards go to housing projects in Billings, Great Falls, Helena, Missoula, Whitefish, Anaconda, Havre, Joliet, Laurel, Lewistown, Crow Agency, Livingston and Ronan.


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