City Accepting Affordable Housing Trust Fund Applications
Published on March 04, 2024
HELENA, Mont. — On March 1, the City of Helena began accepting applications for its Affordable Housing Trust Fund. The City will accept housing development proposals through 5 p.m. on April 26, 2024. The City has approximately $1,000,000 available for the Fall funding cycle. Details on the guidelines, application, and process are available at www.helenamt.gov/Departments/Community-Development/Housing/Affordable-Housing-Trust-Fund. The City is pleased to open another application cycle for these funds and partner with developers to create affordable, sustainable housing options for members of the community.
The City established the Affordable Housing Trust Fund in 2020. The goal of the fund is intended to provide gap financing to organizations, both non-profit and for-profit, that serve beneficiaries of low to moderate income. Helena’s Affordable Housing Trust Fund plays an important role in helping address the affordable housing needs of the community.
Organizations that apply for funding will be required to provide a 5:1 match, should the proposed project be approved. Funds will be dispersed as low-interest loans, with payments returning to the Fund to address further housing needs. There is potential for grant opportunities if the development of housing utilizes a community land trust to ensure permanent affordability.
After the application deadline on April 26, City staff will review all applications for eligibility and completeness. The Affordable Housing Trust Fund Advisory Board will then invite applicants to present their proposals at a meeting in June. The Advisory Board will consolidate their evaluations and make funding recommendations to the City Commission at a meeting in July.
Anyone with questions about the Affordable Housing Trust Fund and the application process can contact the City of Helena Community Development Department at 406.447.8490 or citycommunitydevelopment@helenamt.gov or Anne Pichette, Housing Coordinator at 406.447.8028, apichette@helenamt.gov, or by visiting the City-County Building, 316 North Park Avenue, Room 445.