Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Commission allocates $2 million to Gallatin Housing Impact Fund for Hidden Creek affordable housing project
Summary
Bozeman approved a $2 million grant to NeighborWorks Montana’s Gallatin Housing Impact Fund to help finance the Hidden Creek affordable housing project. The fund will lend the money into the project and is intended to be a revolving source for future affordable housing investments.
The Bozeman City Commission voted 5–0 to authorize a $2 million grant to NeighborWorks Montana’s Gallatin Housing Impact Fund for use as gap financing in the Hidden Creek affordable housing project.
David Fine of the City of Bozeman presented the proposed grant and explained the fund’s structure: the city’s grant augments philanthropic and bank contributions to create a revolving impact fund administered by NeighborWorks—an organization designated as a community development financial institution (CDFI). Fine said the city previously contributed $1 million to the fund and that the additional $2 million will be loaned into the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
