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Council approves $40,000 to Northwest Montana Community Land Trust, releases deed restriction for resale home
Summary
Council approved a $40,000 contribution from the city's affordable-housing fund and replaced the city's deed restriction on 410 Trailview Way with the Northwest Montana Community Land Trust ground lease; project brings the sale price down to approximately $322,000 with additional private matches.
The council approved a request from the Northwest Montana Community Land Trust (NMCLT) to release the city's deed restriction on a resale home at 410 Trailview Way, replace it with NMCLT’s ground lease, and contribute $40,000 from the city's affordable housing fund to facilitate the purchase.
Dana summarized staff support and the city’s current affordable-housing appropriations. Kim Morisaki, representing NMCLT, told the council she had secured a $40,000 match from the Beverly and Bob Bragg Family Foundation routed through the Whitefish Community Foundation and an additional $5,000 from the Montana Women’s Foundation, which reduces the purchaser price from $407,000 to roughly $322,000.
Rebecca and other councilors praised the use of matching funds to stretch limited city housing dollars. Council moved, seconded and voted unanimously to approve the deed restriction release, the ground-lease placement and the $40,000 contribution, and authorized the city manager to execute the agreement with NMCLT.
