Applications are open for Affordable Housing Trust Fund

Posted at 5:05 PM, Mar 04, 2024
and last updated 2024-03-05 12:39:12-05

HELENA — The City of Helena has begun accepting applications for its Affordable Housing Trust Fund.

For the Fall funding cycle, the City has roughly $1,000,000 available.

The fund aims to provide gap financing to nonprofit and for-profit organizations serving low to moderate-income beneficiaries.

Organizations that apply for funding must provide a 5:1 match if their proposal is approved.

Funds will be given as low-interest loans, with payments returning to the fund to address further housing needs, and there is potential for grant opportunities if the development of housing uses a community land trust to ensure permanent affordability.

City staff will review the applications, and the Affordable Housing Trust Fund Advisory Board will invite applicants to present their proposals in June.

The advisory board will consolidate their evaluations and make recommendations to the City Commission in July.

Applications are open until April 26th at 5 pm, and you can find details on guidelines, applications, and the process here.