Montana Board of Housing Allocates Funding to Build 160 Affordable Homes in Montana
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HELENA, Mont. – The Montana Department of Commerce announced today that more than $39 million in federal housing tax credits has been allocated by the Montana Board of Housing to five developers to build new or rehabilitate 160 affordable homes in five Montana communities.
“As Montana’s economy continues to grow, it is crucial that our workers and their families have an affordable place to call home. The projects that were selected by the Board will provide more affordable housing options for families and seniors in Billings, Kalispell, Livingston, Miles City and Missoula,” said Commerce Director Marta Bertoglio.
The Board allocated the competitive federal housing tax credits to:
The Montana Board of Housing is administratively attached to the Montana Department of Commerce. Federal housing tax credits flow through the State agency and fund the construction or rehabilitation of affordable rental homes each year. This year’s awarded properties will support the creation of an estimated 413 jobs and nearly $26 million in local wages.
“As Montana’s economy continues to grow, it is crucial that our workers and their families have an affordable place to call home. The projects that were selected by the Board will provide more affordable housing options for families and seniors in Billings, Kalispell, Livingston, Miles City and Missoula,” said Commerce Director Marta Bertoglio.
The Board allocated the competitive federal housing tax credits to:
- Saddle Horn Apartments in Miles City will receive $8.5 million to build 28 new affordable homes for families and individuals.
- Outpost at Kalispell in Kalispell will receive $8,336,000 to build 24 new affordable homes for families and individuals.
- Sheep Mountain Residences in Livingston will receive $6.7 million to build 24 new affordable homes for families and individuals.
- Tower Apartments in Billings will receive $7.5 million to rehabilitate 44 affordable homes for seniors.
- Wildflower Apartments in Missoula will receive $8.5 million to rehabilitate 40 affordable homes for families and individuals.
The Montana Board of Housing is administratively attached to the Montana Department of Commerce. Federal housing tax credits flow through the State agency and fund the construction or rehabilitation of affordable rental homes each year. This year’s awarded properties will support the creation of an estimated 413 jobs and nearly $26 million in local wages.
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