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Governor Bullock Announces a $27 Million Investment in Affordable Housing, Creating More than 500 New Jobs Across Montana

Montana Board of Housing issues tax credits to strengthen local economies in Billings, Great Falls, Polson, Browning, Culbertson and Wolf Point

Thursday, January 26, 2017/Categories: Governor's Office/Tags:

MONTANA – Governor Steve Bullock today announced $27.1 million in federal housing tax credits that will create 534 new jobs in Billings, Great Falls, Polson, Browning, Culbertson and Wolf Point. The Montana Board of Housing will issue the federal tax credits to help the construction and rehabilitation of rental housing for low income families across the state.

“I’m pleased to announce this significant investment in local communities across the state that will create jobs, provide safe and affordable housing for Montana families, and grow our economy,” said Governor Bullock. “Through investments like these, we continue to find new ways to put Montanans to work building our state and supporting local communities.”

These housing credits allow developers to borrow less money and pass those savings along to families through lower rents.

Housing Credits Allocated:

Roosevelt Villas – Culbertson-Wolf Point (Roosevelt County) received $2,585,915 for Acquisition and Rehabilitation to Preserve 16 Units. Eight 1-bedroom and eight 2-bedroom units for families. Total Project Investment of $3,556,000 will result in 45 Montana jobs earning $1.9 million in wages and salaries supported by construction activity. Developer: GL Development LLC.

Polson Landing – Polson (Lake County) received $6,765,000. Polson Landing is a New Construction Project of 35 Units. Three 1-bedroom, nineteen 2-bedroom and twelve 3-bedroom units for families. And one manager unit. Total Project Investment of $6,900,029 will result in 90 Montana jobs earning $3.8 million in wages and salaries supported by construction activity. Developer: Housing Solutions LLC.

Blackfeet Homes VI – Browning (Glacier County) received $6,775,000 for a New Construction Project of 30 Units. Twenty 3-bedroom and ten 4-bedroom units for families. Total Project Investment of $6,874,864 will result in 90 Montana jobs earning $3.8 million in wages and salaries supported by construction activity. Developer: Blackfeet Housing.

Gateway Vista – Billings (Yellowstone County) received $4,199,085 for a New Construction Project of 24 Units. Eleven one-bedroom and thirteen two-bedroom units for families. Total Project Investment of $4,638,358 will result in 61 Montana jobs earning $2.6 million in wages and salaries supported by construction activity. Developer: YWCA Billings and CR Builders, LLC.

Rockcress Commons – Great Falls (Cascade County) received $6,775,000 for a New Construction Project of 124 Units. Sixty 1-bedroom, thirty-eight 2-bedroom, and twenty-six three-bedroom units for families. Total Project Investment of $19,074,827 will result in 249 Montana jobs earning $10.5 million in wages and salaries supported by construction activity. Developer: GMD/NeighborWorks Great Falls.

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