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Commerce Announces $4.5 Million in Housing Trust Fund and HOME Awards

Funding will support 294 affordable homes in Montana

Friday, January 31, 2020/Categories: Community Development Division, Montana Housing

The Montana Department of Commerce announced Friday that four affordable housing developers representing four Montana communities will share more than $4.5 million of federal funding through the Housing Trust Fund and HOME Investment Partnerships Program. The money will be used to support the construction, rehabilitation and preservation of affordable rental homes in Montana.

“Our goal is to strengthen communities by supporting the development and rehabilitation of affordable homes in Montana,” Commerce Director Tara Rice said. “This funding enables us to partner with existing federal, state and local efforts to increase the supply of safe and affordable homes for Montanans.” 

Housing Trust Fund grants will be awarded to:

  • Billings | Accessible Space, Inc: $120,000 for elevator replacements at a Billings property with 24 homes that serve seniors and people living with a disability. 
  • Great Falls | Accessible Space, Inc: $170,000 for elevator replacements at a Great Falls property with 24 homes that serve seniors and people living with a disability. 
  • Helena | Rocky Mountain Development Council, Inc: $1,250,000 for the rehabilitation of 44 affordable homes at the Fire Tower Apartments.
  • Missoula | Missoula Housing Authority: $2,500,000 for the construction of 130 affordable rental homes, including 30 permanent supportive homes for households                              experiencing homelessness.

A HOME Investment Partnerships Program grant will be awarded to:

  • Missoula | Homeword, Inc: $500,000 for the construction of 72 affordable rental homes in Missoula.

“We would like to thank the Department of Commerce for their support of affordable homes in Montana,” RMDC Director of Affordable Housing Liz Mogstad said. “Fire Tower Apartments has extensive capital needs and the Housing Trust Fund is a critical piece of the financing for the preservation and creation of very important housing in downtown Helena.”

The Housing Trust Fund and HOME Investment Partnerships Program are U.S. Department of Housing and Urban Development-funded affordable homes programs administered through the Montana Department of Commerce. The purpose of the programs is to increase the supply of safe and affordable homes for lower income households.

For more information about the Housing Trust Fund and HOME Investment Partnerships programs visit COMDEV.MT.GOV.

 
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DIRECTOR'S OFFICE | MONTANA DEPARTMENT OF COMMERCE
301 S. PARK AVE. | PO BOX 200501 | HELENA, MT 59620-0501 | P: 406.841.2700 | F: 406.841.2701 | TDD: 406.841.2702
 

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