Montana

Montana Governor Steve Bullock today extended through April 24 Directives he issued to protect Montanans from COVID-19 by slowing the spread of the virus in Montana. The Directives were set to expire on April 10.

The State of Montana prioritizes the health and safety of our citizens. To bolster the state’s response to the coronavirus situation, Governor Bullock launched a Coronavirus Task Force on March 3 to coordinate efforts across state government.

Montana Housing has posted the application for its Multifamily Coal Trust Homes Program, which makes available $15 million of Coal Tax Trust Fund dollars to develop affordable rental homes by providing developers with low-interest rate loans. The program is a result of House Bill 16 that was passed during the 2019 legislative session. It’s estimated the money will initially support the development of six new affordable rental properties. As these loans payoff, the money returned will be used to fund the development of additional homes.  Multifamily Coal Trust loans can be used for projects such as new construction, acquisition and/or rehabilitation of existing multifamily rental homes, acquisition of land for multifamily rental homes and land trusts for rental and mobile or manufactured homes.

HUD’s Office of Multifamily West Region issued a memo that nullifies the requirement to review the status of residents reporting zero or nominal (less than $100.00) income every 90 days.

Evelyn Lim joined the HUD Region Eight team, which covers Colorado, Utah, Wyoming, Montana and North and South Dakota. Prior to her appointment at HUD, she served as the Deputy Chief of Staff for Operations at the Department of Homeland Security (DHS).

A new note from Peter Lawrence with Novogradac and Co. analyses state use of the private activity bonds (PABs). In 2017, eleven states reported no multifamily PAB issuance, up from ten in 2016 and down from the high of 30 in 2011.

The Montana Board of Housing has released the first draft of its 2019 QAP. The public comment period is open, and comments must be submitted via Montana Housing Division’s website by 5pm on January 26, 2018. Changes include the following (Set-Asides remain unchanged): Limits on the Soft-Cost-to-Hard-Costs ratio have been increased 2% for all project […]

Save the Date: Montana Board of Housing’s QAP discussion session has been moved up one day and will be on November 30 and Dec 1 at the Fairmont Hot Springs. More information will be made available soon.

Read on for a summary of changes.

As part of the Montana Board of Housing allocation process, Letters of Intent must be submitted via email in specific formats.

The Montana Board of Housing posted a draft of the 2017 Qualified Allocation Plan.

Montana will host a Low-Income Housing Tax Credit Training on March 23-25 in Missoula, MT.