MONTANA DEPARTMENT OF COMMERCE
FOR IMMEDIATE RELEASE
Penny Cope, Public Relations, Montana Housing Division, (406) 841-2846
Ronja M. Abel, Communications Director, Montana Department of Commerce, (406) 841-2557
City of Wolf Point to Receive $750,000 for Development of Affordable Housing
(HELENA) – The Montana Department of Commerce HOME Investment Partnerships Program recently announced that it will award over $750,000 to the City of Wolf Point for the development of affordable housing.
The City of Wolf Point will use their HOME grant of $750,000, along with other funding sources, to construct Wolf Point Village Apartments on the north side of town, within walking distance of Borge Park, the City-owned community swimming pool, Northside Public School and the Northeast Montana Health Service complex. The 24-unit complex will consist of 4 one-bedroom, 12 two-bedroom and 8 three-bedroom units. The project will be targeted to families with incomes between 40% and 60% of the area median income. A family of four with a household income between $23,240 and $38,860 would qualify for these apartments.
“The HOME Investment Partnerships program provides much-needed funding for a variety of housing activities in Montana,” said Department of Commerce Director Meg O’Leary. “To help stretch these dollars, we’ve combined them with over $3 million of Montana Housing Tax Credits.”
Recommendations for funding are made by an independent review panel whose members evaluate each application’s potential benefit to low-income persons, the management capacity of the applicant and the cost-benefit of the proposed activities, including the severity of need, impact, cost reasonableness and feasibility.
The Wolf Point Village Apartments will meet all the HOME accessibility requirements. Additionally, ten of the units will meet the needs of visually and hearing impaired people. All units will have energy-efficient appliances and lighting, superior insulation, upgraded windows and ample storage. Other amenities will include access to a community building with a children’s reading room, and a community room with a kitchenette. The project will also include several common spaces including half-court basketball, a small fitness center and a children’s playground.
The HOME Investment Partnerships program is a federal block grant program funded by the U.S. Department of Housing and Urban Development (HUD) that provides states and localities with a flexible funding source to meet their diverse affordable housing needs. The Montana Department of Commerce (MDOC) is responsible for the administration of the HOME program within the state of Montana. MDOC provides HOME funds to participating jurisdictions, such as community housing development organizations (CHDOs), public housing authorities (PHAs), and units of local government (counties and incorporated cities and towns) throughout the state. HOME grant recipients must commit HOME funds within 24 months of their receipt and expend them within five years.
“Maintaining strong public and private partnerships with organizations throughout the state is central to the Montana Department of Commerce’s mission to most effectively advance affordable housing for Montanans,” said Bruce Brensdal, Administrator of the Housing Division at the Department of Commerce.
HOME grants are used to construct, acquire and/or rehabilitate rental housing, or develop new housing for homeownership. HOME has a proven record as a highly successful program, creating rental and homeownership opportunities for tens of thousands of low-income families every year.
MDOC monitors HOME‐assisted properties to ensure long‐term affordability and compliance with program rules. Apartments must remain affordable to low‐income families for a period of five to 20 years, depending on the amount of HOME assistance they receive. Ownership properties must remain a family’s principal residence for a period of up to 15 years. HOME helps create jobs, expand local tax bases, and stabilize distressed neighborhoods. Each federal HOME dollar is matched with 25 cents of state, local, or private funds. However, participating jurisdictions leverage significantly more. In fact, every federal HOME dollar generates almost four dollars in additional public and private investment.
For more information about the HOME Investment Partnerships program in Montana, please contact Maureen Martin, HOME Program Manager, at (406) 841-2826.