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Read the article at the Missoula Current by Martin Kidson
excerpt:
“One of the Trust Fund's great design features is that it's flexible and allows for a broad range of activities,” said Emily Harris-Shears, a housing specialist with the city. “It's exciting that we can use these resources in ways we haven't been able to do in the past.”
The city chartered the Affordable Housing Trust Fund in 2020 as part of its housing policy. The resolution that created the fund requires the city to invest a minimum of $100,000 into the fund each year, though other sources can also be added.
That includes an annual investment from the Missoula Redevelopment Agency, private donations, federal funds and the sale of city-owned property, which could generate several million dollars for the fund in the coming year…
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Over the last two fiscal years, the Trust Fund has received $1.7 million and all of it has been committed. That includes $136,000 to cover salaries and contracts, $181,000 for consumer housing solutions, and $1.4 million for the preservation and acquisition of affordable housing.
Harris-Sheers said the funding has helped 149 households retain or access housing, while 626 households have accessed home-buyer and financial education. The funding also has helped preserve or acquire 213 affordable homes
