The Coal Trust Multifamily Homes program

The Montana housing coalition this legislative session is advocating for the Reauthorization of the Coal Trust Multifamily Homes Program.

Andrea Davis the Chair of the Montana Housing Coalition explains that program.

“In 2019 we were very excited to see the creation of the Coal Trust Multi Family Homes Program. It was a milestone for financing affordable homes in our state, because it was the first time Montana invested its own dollars in rental homes affordable to earning low and moderate wages or people on fixed income, and how we did that was the state allocated 15 million dollars from the Coal Trust to be placed in this multifamily homes loan program, and that’s exactly what that 15 million dollars did. They were loans, paid back to the Coal Trust and paying interest, and that money was spent immediately. 15 million dollars was deployed to seven projects around the state, and it preserved 252 affordable apartments and seven projects across the state. The project in Havre that that funded was the Oakwood Village.” -Andrea Davis

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