The U.S. Department of Housing and Urban Development (HUD) awarded a $3,000,000 Home Investment Partnerships Program (CFDA 14.239) formula grant to the Department of Commerce Montana State of Montana Department of Commerce Division. This funding is used to finance a range of affordable housing activities, including rehabilitation of owner-occupied housing, homebuyer assistance, rental housing acquisition/construction, and tenant-based rental assistance. The grant aims to expand the supply of decent, safe, and affordable housing for low- and very low-income Americans, with a focus on rental housing. By statute, the division must reserve at least 15% of the grant funds for projects undertaken by Community Housing Development Organizations. The grant period runs from September 17, 2024, through September 30, 2033.
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