Trust Montana Receives $350,000 grant for Affordable Housing
With the cost of real estate skyrocketing beyond many families’ ability to afford, the Montana Department of Commerce announced this week that Trust Montana, a new affordable housing land trust model in Missoula, will receive $350,000 in federal funding through the Montana Department of Commerce’s HOME Investment Partnerships Program.
Julie Flynn, Program Manager with the Community Development Division in the Montana Department of Commerce described how the funds will assist the Trust Montana program.
“This will provide down payment and closing cost assistance to Trust Montana over the next two years to conduct a program in Missoula County where they will fill the gap between what home buyers might be able to afford and the actual price of a home,” said Flynn. “Then they'll hold that home in their land trust so that it remains affordable for Montanans far into the future.”