State of Montana HOME Program Income Plan for Missoula County
The Program Income Plan has been sent to the state and Missoula County is waiting on next steps.
Missoula County seeks public comment on changes to a HOME Program Income Plan with the State of Montana Department of Commerce. Proposed changes include expanding eligible uses of program income to support projects that increase the supply of safe and accessible housing for low-to-moderate income residents in Missoula County.
Background:
In 1992, Missoula County was awarded a grant from the Montana Department of Commerce HOME Investment Partnership Program (HOME), a grant program through the U.S. Department of Housing and Urban Development (HUD). The grant supported first-time homebuyers with down payment assistance through a shared equity loan that would be paid back when the property sold, was foreclosed or refinanced. Funds that have been repaid through this program can support housing affordability programs within Missoula County and are referred to as Program Income. The proposed changes to the Program Income Plan would enable the county to broaden uses of Program Income to eligible activities such as housing rehab and housing development activities.
Public Comment:
Submit public comment by Friday, Feb. 20 using the comment tool below.
Project Lead:
Melissa Richards, 406-258-3447
Kayla Talbert, 406-258-4947
Important Links and Documents:
Let us know what you think by logging in or creating an account and submitting your comment below.
The Program Income Plan has been sent to the state and Missoula County is waiting on next steps.
Who's Listening
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Phone 406-258-3447 Email mrichards@missoulacounty.us -
Phone 406-258-4947 Email ktalbert@missoulacounty.us
Thank you for being thoughtful with how to better utilize these underutilized funds to still meet a clear community need. Down payment assistance programs are not as easy to implement with the rise in housing costs, and this shift in focus for these funds should still have a positive impact on homeownership and affordability.
If the original guidelines for the grant can no longer be met, then it might be best to return the funds to the federal government.
I know 2 people that used this program when they were younger and it helped immensely. I hate the idea of turning funds over to developers who need to make a profit. We have all heard about new developments that are going to provide low income housing, and they never happen.
Agencies that help low income people find housing is a much better steward.
If you transfer funds to local housing affordability programs, will the eligibility for developing housing still remain? If so, then I think this a great idea AND I encourage you to advertise the housing development option to existing homeowners who can create housing on their own lots.
Seems reasonable to pass funds onto local housing organizations who are likely experts in helping create affordable housing. The document could provide better information on what specifically is changing or what's being added. It's unclear how the update is different from the original.