State Housing Board to Meet in Shelby on October 15th
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State Housing Board to Meet in Shelby on October 15th

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HELENA, October 5, 2007 – The Montana Board of Housing (MBOH), an agency of the Montana Department of Commerce, will meet in Shelby on Monday, October 15th. The meeting begins at 8:30 a.m. and will be held at the Marias River Electric, 910 Roosevelt Hwy.

Community leaders and members of the public interested in programs offered by the MBOH are encouraged to attend the meeting. A period of public comment at the beginning of the meeting will be reserved for public input regarding housing issues.

“The Montana Board of Housing is a champion for housing issues across Montana,” Governor Brian Schweitzer said. “I support the board’s continued efforts to make safe, affordable, housing accessible to every Montanan.”

To date, the MBOH has provided financing for the following counties in the area:

Chouteau County: 74 home loans for $3,337,557
Glacier County: 192 home loans for $8,850,513
Liberty County: 16 home loans for $723,502
Pondera County: 156 home loans for $6,563,627
Teton County: 134 home loan for $7,163,996
Toole County: 137 home loan for $5,743,015

In total, 709 home loans have been financed by the MBOH for a total of more than $32 million for these six counties. There have also been four Reverse Annuity Mortgages financed, totaling more than $250 thousand.

Since 1991, Fort Benton in Choteau County has been awarded $13,938 in low income housing tax credits for a 10 unit project by the Montana Board of Housing which equates to $100,000 in private investor equity. Glacier County has been awarded more than $1.6 million in low income housing tax credits for Cut Bank, Browning and Heart Butte; total private investor equity was over $1 million and provided for 147 new and rehabilitated units in these communities. Toole County, in the town of Shelby, received $16,960 in low income housing tax credits to provide 12 units, providing the necessary investor equity.

Toole County, in the town of Chester, received $3,030 in low income housing tax credits to build 6 new units, again providing much needed private equity.

The Montana Board of Housing is administratively attached to the Montana Department of Commerce. The MBOH serves the housing needs of Montana’s low- and moderate-income population by providing financing for the development or rehabilitation of the state’s affordable housing stock, as well as lowinterest loans for first-time homebuyers through the Homeownership Program. Since 1977, the MBOH has served 40,000 Montana families by financing nearly $2.5 billion for affordable homeownership and multi-family housing units.

The MBOH will make reasonable accommodations for persons with disabilities who wish to participate in the public meeting. A person in need of accommodation should contact Diana Hall at (406) 841-2840 no later than October 12, 2007.

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