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Panel hears support for $50 million one-time transfer to Housing Montana Fund
Summary
Senate Finance and Claims heard SB405 proposing a one-time $50 million transfer to the Housing Montana Fund to provide revolving gap-financing for affordable housing; developers, local governments and tribal representatives urged support while Board of Housing officials clarified the fund has not previously received state appropriations and currently holds about $300,000.
Senate Finance and Claims considered SB405, a proposal to transfer one-time general fund dollars into the Housing Montana Fund to create a revolving loan pool for affordable and workforce housing projects. Sponsor Senator Dave Fern said the fund is meant to "be sort of a perpetual revolving fund for low and moderate housing in the state."
Affordable housing developers and industry groups urged committee support. Becky Brandsborg, an affordable housing developer and chair of the Montana Housing…
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