DCEDC is investing in Glendive - building 16 senior apartment units

next to the new Dawson Co. Sr. Citizen Center. 

Housing Opportunities Series

Land development, construction costs, needs of the elderly and smart growth issues affect many of our eastern Montana communities.

USDA Rural Development has many programs and resources.               

Housing Resources & Programs

MONTANA BOARD OF HOUSING Partners for Attainable Housing Bruce Brensdal Administrator   http://housing.mt.gov

¶           Multifamily Program -Low Income Housing Tax Credit  Mat Rude, Gerald Watne

A federal income tax credit for owners of qualifying rental housing which meets certain low income occupancy and rent limitation requirements. The credit is taken as a reduction in participants’ tax liability over a 10 year period. The credit can also be sold to investors to act as a financing source.

¶           Home Investment Partnerships (HOME) Program- Leslie Edgcomb

¶           Community Development Block Grant (CDBG) Program- Neal Ullman

These programs provide grant funds to eligible local government entities and Community Housing Development Organizations (HOME only) for assistance in financing new construction or rehabilitation of individual homes or rental units, tenant based rental assistance, and other eligible activities. Grants are awarded through a competitive process once each year.

¶           Homeownership Program - Set-aside Programs - Nancy Leifer

For-profit & nonprofit housing providers serving low-income or other homebuyers that do not qualify for the Single Family Program.

Development and Developer Resources --Tax Credits & How to Use Them

                Don Sterhan, President of Mountain Plains Equity, Inc.   www.mpequity.com

(MPEG) is known in the industry as a "syndicator" of tax credits to establish and manage an equity fund for the benefit of investors. This equity fund provides investment capital to project developers, offering a marketplace for the exchange (or sale) of tax credits awarded to qualified projects.

    Where do we go from here?          Demographic trends? Community needs? Case Studies?  Developers?