Big Sky Times

Funding Will Support Converting Property From Rentals To Shared Ownership

In his continued effort to expand affordable housing access in Montana, Senator Tester today secured $500,000 for NeighborWorks Montana to combat the affordable housing shortage in Missoula. This funding awarded through the Shared Equity Housing Initiative will be used to support the conversion of a 14-unit property to resident ownership.

This funding is awarded to NeighborWorks organizations to promote home ownership initiatives and aid in community development.

“The lack of affordable housing is one of the most pressing issues facing our state,” said Tester. “Home ownership opens doors, and keeps folks from moving out of the rural communities that power the Treasure State, so I’m proud to have secured this award for NeighborWorks Montana to continue expanding housing opportunities in Missoula and beyond. I’ll keep working with folks on the ground to make home ownership a reality for every Montanan.”

Tester has been Montana’s leading champion for rural housing accessibility. In April of 2021, Tester secured more than $15 million in U.S. Department of Housing and Urban Development (HUD) funding through the American Rescue Plan Act (ARPA) to support affordable housing construction, purchasing, and rehabilitation for low- and very low income- families. Tester was the only member of the Montana delegation to vote in support of this funding.

In January of 2021, he secured a commitment from HUD Secretary Marcia Fudge that she would work to break down silos preventing affordable housing for Montana workers and Tribes from being built and maintained.

Last December, Tester secured significant wins for housing affordability in the 2023 government funding package, including $85 million for a new “Yes in My Back Yard” grant program, $225 million for manufactured housing preservation and revitalization, $170 million for Neighborhood Reinvestment Corporation (NeighborWorks), and $12.5 million for the Self-Help Homeownership Opportunity Program (SHOP). That same month, he secured more than $637,000 for housing accessibility in Helena through U.S. Department of Agriculture (USDA) Rural Development’s Mutual Self-Help Housing Technical Assistance Grant Program.

Original source can be found here.