Montana Department of Commerce

The State of Montana's Pathways to Removing Obstacles to Housing Action Plan outlines a strategy to implement long-term transformational changes in how housing is planned for, regulated, approved, and incentivized in its fastest-growing communities. This is achieved through three key activities: (1) conducting data compilation, analysis, and public participation for land use plans in 11 MLUPA communities, (2) updating zoning ordinances with at least five specific reforms to increase housing development and implement administrative approval, and (3) establishing a Housing Technical Assistance Program to provide tools, resources, and planning assistance statewide. The plan aims to reduce regulatory barriers, create development certainty, lower carrying costs, and ultimately increase affordable housing production and preservation across Montana.

The board meeting addressed various agenda items related to housing programs, including a multifamily program update, finance program updates regarding investment policy amendments, and approval of the Single Family 2026B Bond Resolution. Additionally, the board discussed and approved updates to the Hazard Insurance Policy and Loss Draft Policy, reviewed a rental assistance update, and heard presentations regarding various multifamily loan projects and pre-applications.

The board discussed key updates regarding the multi-family housing project pipeline and addressed concerns related to project cost increases and development progress. The session included a review of financial updates, site relocation impacts, and the status of tax credit equity. Additionally, the board initiated the voting process for selecting pre-applications for 9% housing credit projects, inviting finalists to submit full applications.

The board meeting focused on the annual 9% low-income housing tax credit pre-application presentations. Key discussions included specific project proposals such as the Summit at Bozeman for senior housing, Mountain View 2 in Hamilton for acquisition and rehabilitation, and Walkman Way Apartments in Darby for revitalization. The board reviewed project criteria, evaluated housing needs, discussed demographic data, and addressed procedural aspects regarding the upcoming application and award process. A policy regarding the prohibition of AI-based note-taking and summarization tools at public meetings was also announced.

The Board discussed various organizational announcements and heard public comments, including project updates from external partners regarding housing developments in several cities. Key business items included the review and approval of the investment policy after specific amendments were made, and an accounting and finance update detailing investment diversification and portfolio yields. Additionally, the Board reviewed and approved a new bond resolution for the issuance of mortgage revenue bonds to finance loans.