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Senate committee hears plan to seed $100 million housing-infrastructure trust to spur development
Summary
Rep. Mike Vinton told the Senate Finance and Claims committee that House Bill 505 would transfer $100 million into a housing trust to finance water, sewer and other infrastructure for new development; industry and local government groups told the committee the fund would unlock lots and lower housing costs by enabling projects that otherwise 'don’t pencil out.'
Representative Mike Vinton (House District 40) urged the Senate Finance and Claims committee to approve House Bill 505, a proposal to transfer $100,000,000 from the general fund into a housing trust to finance infrastructure — water, sewer and related systems — for new residential development across Montana.
"House Bill 505 is a bold pro-housing reform," said Adrian Cotton of the Montana Building Industry Association, noting builders face large costs to extend municipal infrastructure and that access to water is a particular constraint in many rural communities. Kelly Lynch of…
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