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City accepts $150,000 in CDBG‑CV funds to reduce debt at Bonnie’s Place resident‑owned community
Summary
Council approved contracts to accept up to $150,000 in CDBG‑CV funds and to subgrant those funds to NeighborWorks Montana to reduce acquisition debt for Bonnie’s Place, preserving affordability for 24 resident‑owned manufactured homes.
The City Council unanimously authorized the mayor to accept up to $150,000 in Community Development Block Grant‑COVID (CDBG‑CV) funds from the Montana Department of Commerce and to subgrant that funding to NeighborWorks Montana to support Bonnie’s Place, a resident‑owned manufactured‑home community.
Montana James, deputy director with the city’s Department of Community Planning, Development and Innovation, explained the funds come as surplus CDBG‑CV dollars are being reallocated statewide. The city previously used $850,000 in state CV funds to help NeighborWorks Montana and Bonnie’s Place secure ownership of the community in 2021–2023. The newly offered funds will help reduce acquisition‑related debt for residents, lowering debt service burdens and strengthening long‑term affordability.
NeighborWorks Montana Executive Director Kaia Peterson thanked council and described on‑site capital and governance improvements completed since acquisition, adding that the additional funding will support resident affordability and community stability.
Council approved two motions: one to accept Montana Department of Commerce grant funds and one to authorize a subgrant agreement with NeighborWorks Montana. Votes were unanimous.
What’s next: staff will execute the state grant agreement and the subgrant to NeighborWorks Montana; the funds will be used to reduce residents’ acquisition financing costs and to support ongoing affordability.
