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From the Editorial as published in the Missoulian
“We are thrilled that all three of our legislative priorities for the 68th Legislative session align strongly with recommendations made by the Task Force in its Oct. 15 report to the governor. These innovative ideas are the product of best practices from other states that have been successful in increasing affordable housing options. They include:
- Support of a State Workforce Housing Tax Credit The task force report recommends that Montana enact a State Affordable Housing Tax Credit. Similarly, the Coalition has proposed a workforce housing tax credit to mobilize private funding to increase housing that Montanans can afford. The Workforce Housing Tax Credit Act will bring more private investment to Montana to create more homes and apartments.
- Reauthorization of the Multifamily Coal Loan Program To increase housing supply, task force members specifically proffered that “an expansion of uses of the Multifamily Coal Trust Homes program…would result in incentives to increase the supply of statewide housing.” The Multifamily Coal Loan Program was created in 2019 and was the first time state money was dedicated to rental development. The original $15 million was immediately deployed to seven projects across the state. Additional investment into this program is necessary to make low-interest loans available for the development and preservation of rental homes in Montana.
- Investment in the Housing Montana Fund Similarly, the task force suggested that “a deeper investment in the State’s Housing Montana Fund (HMF)” would also incentivize additional housing supply. This revolving loan fund was established in 1999, yet there is no identified, on-going fund source of funding. With a $2.4 billion budget surplus, the Legislature has the opportunity to provide a large one-time investment in safe and affordable homes for Montana’s workforce through an existing program.”
The Montana Housing Coalition (MHC) is a diverse group of local housing authorities, for-profit and non-profit developers, local governments, contractors, lenders, economic development teams and community leaders who advocate for affordable homes in Montana for working families, seniors, and veterans. Its Board of Directors, who authored this piece, includes Andrea Davis, Homeword; Don Sterhan, Mountain Plains Equity Group; Michael O’Neil, Helena Housing Authority; Adrienne Bombelles, Montana Budget & Policy Center; Beki Brandborg, Echo Enterprises; Jim Morton, Human Resource Council; Sheila Rice, NeighborWorks Great Falls (retired); and Tyson O’Connell, Wishcamper Partners