County approves HomefrontHAB Development as community reinvestment organization to pursue state housing program

The Yellowstone County Board of County Commissioners voted Aug. 13 to join the Montana Community Reinvestment Plan and to designate HAB Development Corporation, part of Homefront, as the county's Community Reinvestment Organization (CRO). The resolution (24-126) passed by voice vote after brief discussion and public comments in support.

Patty Webster of Homefront, who spoke for the application, said the organization does not need to have matching funds in-hand before lending but must provide proof of the match to the state. "No," Webster said when asked whether the match must be in hand; "we have to provide proof of the match, so we don't have to have it in hand." She described the local housing need as pressing: "we have over 7,000 people on our waiting list" for assisted housing and cited a recent study she said estimated "over 28,000 units of assisted housing are needed" locally.

Speakers from the business community supported the measure. Steve (who introduced himself as representing the Billings Association of Realtors) said the CRO application would help entry-level housing and thanked commissioners for their prior review. Jack Genaway of the Billings Chamber of Commerce told commissioners that local surveys and economic work show housing supply and affordability are top local concerns; he cited figures he said were from Big Sky Economic Development and a University of Montana report showing a median household spending rate on housing of about 37.6% of gross monthly income.

Commissioners praised the local partners; the motion to approve the resolution was moved from the dais and seconded during the meeting and the board approved it. The record indicates commissioners asked staff and the applicant clarifying questions about matching requirements and community impact during discussion, and public supporters urged the board to back the CRO designation to speed production of workforce housing.

The board's action authorizes county participation in the state program and identifies HAB Development/Homefront as the local CRO for the purposes of the Montana Community Reinvestment Plan; staff and the CRO will proceed with the program steps required by state law and rule as described in the application and the resolution.

Next steps: the county will proceed with the CRO application process and the Homefront/HAB team will provide the required proof of match and program documentation to the state as they seek to deploy funding for workforce housing projects.