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We love Montana!
A Message from Cheryl Cohen
Division Administrator, Montana Housing
Happy New Year!
I don’t even know where to begin with a 2021 recap message. I’m sure we all employed various coping mechanisms to help us get by. What helped me more than anything was the good humor of my colleagues and partners, and all our attempts to seek moments of funny in our busy days, despite often overwhelming challenges.
For example, I’m grateful to the Montana Housing team for indulging me with a Dean Martin Marshmallow World sing-along last month (thankful also there’s no video!). A little self-deprecating humor can go a long way. A life-sized cardboard cut-out of The Rock has also made the rounds through our offices. We dabbled in Halloween costumes, and decorated the halls.
At Montana Housing, we are certainly serious about our work and our mission, but this year was also about rejuvenating our working relationships, kindling comradery and cheering each other on with each little success. And we certainly have a long list to cheer about:
- Our 5-Year Consolidated Plan for 2020 – 2024 was submitted to HUD on April 30, 2021, followed by HUD’s approval of the 5-Year Plan and our 2021 Allocation Plan. This was a tremendous body of work (most of it occurring during legislative session!) and paved the way for HUD’s release of $6.7 million in CDBG, $3.1 million in HOME and $3 million in HTF to the Department of Commerce.
- Issued $135 million in private activity bonds to support 756 affordable rental homes – the highest recorded use of private activity bonds for affordable housing development in a single year!
- Allocated more than $29 million in federal housing credits for 158 newly constructed or preserved homes in Kalispell, Dillion, Great Falls, Billings and Big Sky.
- Eleven affordable housing projects in our development pipeline, comprising 724 rental homes, received a total of $15 million in state of Montana American Rescue Plan Act Fiscal Recovery Funds. And another six projects received nearly $3 million in additional HOME and HTF funds. These funds will ensure projects impacted by COVID-19 cost escalations due to supply chain disruptions, building material cost increases and labor shortages can complete and lease up on sound financial footing.
- Awarded $6 million in one-time Community Development Block Grant (CDBG) funding through the federal CARES Act to nine communities to support needed housing and homelessness related projects.
- Awarded $2.35 million in HOME and HTF funds to develop 25 permanent supportive homes in Great Falls, and 26 new homes for families and individuals in Billings.
- Over 7,150 families in Montana received rental assistance from one of our federal programs, and rental assistance payments made to landlords and property owners totaled nearly $48 million.
- The new ARPA Emergency Housing Voucher program launched in the fall and has already received 99 referrals from Rapid Rehousing providers and local coordinated entry systems for 109 available vouchers.
- Closed two single family bond issues totaling over $75 million, funded 639 loans for Montana homebuyers and provided targeted set-aside, special program, and down payment assistance to 254 Montana homebuyers.
- Acquired and transferred approximately 600 loans from a participating lender to our in-house mortgage servicing program.
- Developed and submitted our Homeowner Assistance Fund Plan to the U.S. Department of the Treasury in late September and are waiting for final approval.
- Over 4,720 Montanans maintained housing stability with more than $30 million total funding awarded under the Montana Emergency Rental Assistance program.
Lots accomplished and still much ahead. Bring your seriousness, but bring your silly to 2022 too.
“It is a fair, even-handed, noble adjustment of things, that while there is infection in disease and sorrow, there is nothing in the world so irresistibly contagious as laughter and good humor.” – Charles Dickens, A Christmas Carol
Happy New Year Friends!
Cheryl Cohen
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Montana Housing News
GOVERNOR GIANFORTE INVESTS $15 MILLION TO INCREASE ACCESS TO AFFORDABLE HOUSING
Governor Greg Gianforte today announced the state will invest up to $15 million to fund affordable housing projects across Montana. Due to COVID-19 related worker shortages, supply chain disruptions, and price escalations in key building materials like lumber, a July 2021 survey by the Department of Commerce found that development costs for affordable housing projects increased by an average of nearly 17%. More
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COMMERCE ANNOUNCES $22.6 MILLION TO DEVELOP AFFORDABLE HOMES IN 4 MONTANA COMMUNITIES
The Montana Department of Commerce announced today more than $22.6 million in federal housing tax credits will be allocated to developments in four communities in Montana to preserve or build 247 new affordable homes. More
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COMMERCE AWARDS $9.4 MILLION IN FEDERAL GRANTS TO INCREASE COVID-19 RESILIENCY IN 13 MONTANA COMMUNITIES
The Montana Department of Commerce announced that 16 projects in 13 Montana communities have been awarded more than $9.4 million in federal grant funding for activities that will help Montana counties, cities, and towns prevent, prepare for, and respond to the COVID-19 pandemic. More
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COMMERCE ANNOUNCES $25 MILLION TO DEVELOP AFFORDABLE RENTAL HOMES IN 14 MONTANA COMMUNITIES
The Montana Department of Commerce announced today more than $25 million in federal funding has been allocated to 14 Montana communities to rehabilitate, preserve, or construct more than 945 affordable rental homes. More
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MONTANANS FINANCIALLY IMPACTED BY COVID-19 RECEIVE MORE THAN $30 MILLION IN EMERGENCY RENT AND UTILITY ASSISTANCE
Montana Housing announced today that more than $30 million in rent and utility assistance has been paid to support Montanans who have experienced financial hardships due to the COVID-19 pandemic and were at risk of housing instability. The federally funded assistance is provided by the Montana Emergency Rental Assistance Program. More
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Homeowner Assistance Fund (HAF)
The American Rescue Plan Act passed by Congress and signed by the president contains $9.961 billion nationwide for a Homeowner Assistance Fund (HAF). That funding will help Montanan homeowners, and homeowners across the country, remain in their homes.
The Montana HAF will include $50 million in federal funding allocated by Congress to the state of Montana through the American Rescue Plan Act, and appropriated to the Department of Commerce through the passage of HB 632.
The purpose of the Montana HAF is to mitigate financial hardships associated with the coronavirus pandemic by providing funds to prevent homeowner mortgage delinquencies, defaults, foreclosures, loss of utilities or home energy services, and displacements of homeowners experiencing financial hardship after January 21, 2020.
This program is currently under development awaiting approval from the U.S. Department of the Treasury. Partners are encouraged to direct homeowners to visit HOUSING.MT.GOV for updated information while this program is being developed.
Community Development Block Grant Program
Commerce will again accept applications for CDBG funds this Spring. CDBG can be used for projects to rehabilitate rental housing, construct or rehab homes or shelter for those experiencing homelessness, as well as public facilities and economic development. Stay tuned for more details on our web site here. CDBG can also be used for single-family rehabilitation projects; those applications are accepted on a rolling basis.
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Housing Coordinating Team (HCT) Meetings
It's been a while, but we're back!
Montana Housing is excited to announce that we will be starting up the Housing Coordinating Team (HCT) meetings again! It has been too long since we have been able to get together and discuss different ways we can expand affordable housing in Montana.
For those who have not attended an HCT meeting, the purpose is for all of us to share resources for funding of affordable housing developments, to educate ourselves on new legislation or topics that will better assist us in our housing efforts, and to utilize the experts we have in our state to help find new creative ways to produce and sustain additional housing units.
Each monthly meeting will be via Zoom and will consist of a short educational presentation from a speaker with a brief Q&A session, followed by any other agenda items, which may include updates from the state on additional funding sources, or other entities that may have with valuable information to share with the attendees.
Please email Nicole.Mckeith@mt.gov if you would like to attend or contribute agenda items or educational topic ideas.
We can't wait to restart this amazing group of affordable housing collaborators!
Industry Trends
"Going Virtual"
The Montana Housing Partnership invites you to the 2022 Annual Housing Conference, which will be held virtually on June 14-15.
Planning is underway and we are excited for the opportunities that will be available this year. The conference will be utilizing Whova again this year, which allows attendees a great deal of access and interactive ability.
This annual housing conference is put together by the Montana Housing Partnership, a group of housing professionals in business and government across the state.
Conference content is developed with whole community health in mind and is an anticipated event for housing authorities, community development agencies, health organizations and affordable housing developers in Montana. For more information visit MTHOUSINGPARTNERSHIP.ORG.
Make sure to mark your calendars and watch for coming announcements!
Montana Emergency Rental Assistance Program
The Montana Emergency Rental Assistance program supports Montanans who have experienced financial hardships directly or indirectly due to the COVID-19 pandemic and are at risk of housing instability.
Renters can receive assistance for past due rent, future rent, past due utility bills, and future utility bills. The maximum per month rent assistance is $2,200. The maximum per month utility assistance is $300. Rental late fees will be paid as supported by lease agreement and/or the Landlord Confirmation form with bills dating back to April 1, 2020.
Expanded program eligibility coming soon.
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Welcome New Leaders to Montana Housing!
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Kelly Shields accepted a promotion to be our new Rental Assistance Programs Manager. Kelly has been serving as our Rental Assistance Programs accountant since 2003, and prior to that worked in the Commerce Community Technical Assistance and Community Development Block Grant programs. He’s been with Commerce for an incredible 27 years, and also has a master’s degree in Public Administration. Congratulations Kelly!
- Our new and inaugural Homeowner Assistance Fund (HAF) Supervisor, Kacy Johnson, has six years in the banking industry as a Personal Banking Officer, including originating and underwriting loans. Kacy will be applying her business and leadership skills in helping create the foundation of the new HAF program with her team.
- We also welcomed back a prior colleague, Danyel Bauer, as our new Mortgage Servicing Daily Operations Supervisor! Danyel is a great addition to our servicing team, given her prior experience working with the Montana Housing homeownership crew and her familiarity with our new loan boarding process! Danyel has 22 years’ experience in finance, real estate lending, title, and loan servicing.
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MONTANA DEPARTMENT OF COMMERCE
MONTANA HOUSING
301 S. PARK AVE. | PO BOX 200501 | HELENA, MT 59620-0501
P: 406.841.2840 | F: 406.841.2841 | TDD: 406.841.2702 | TOLL FREE: 800.761.6264
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