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Board of Investments details investment strategy and use of Homes Act funds to support affordable housing
Summary
Dan Villa of the Montana Board of Investments explained the Unified Investment Program managing ~$28.67 billion, the Board's fiduciary duties and nine asset classes, and described deploying $106 million in Homes Act funds via collateralized bank deposits to finance 969 affordable housing units while preserving principal for redeployment.
Dan Villa, executive director of the Montana Board of Investments, briefed the House State Administration committee on the Board's role, scale and recent deployment of state housing funds.
Villa said the Board oversees about $28,670,000,000 across state, local government, university and special purpose district funds; roughly 15.3% of those assets are pension dollars. He described the Board's fiduciary obligations under Article 8 Section 13, the agency's audit regimen and the Board's nine…
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