Baucus, Tester announce $15.5 million for Montana housing

Money will create jobs by building low-income housing

(WASHINGTON, D.C.) –More money is heading to Montana to create jobs, thanks to $15.5 million from the Jobs-Stimulus Bill announced today by Senators Max Baucus and Jon Tester.

The Montana Board of Housing will receive $15,510,979 to finance projects to build and upgrade housing for low-income families.  The board will use the money to replace a loss in bond sales due to the downturn in the economy.

“With Montana’s rural nature, it is impossible for smaller projects to attract investors for our tax credits,” said Bruce Brendsal, Administrator for the Montana Board of Housing. “This important program will allow our small projects to move forward employing many folks in the construction industry as well as providing housing that is a critical need in our communities across the great State of Montana.” 

“Affordable housing is key to maintaining a strong community,” Baucus said. “This is a win-win because construction workers will have jobs building housing for the families and individuals who need that housing the most.”

“This is good news for working folks all over Montana,” Tester said. “This money will put people to work today and make our infrastructure stronger in the long run. With smart investments like this, we can keep Montana a great place to live and work.”

The Jobs-Stimulus Bill is bringing more than $1 billion in new funding to Montana in addition to more than $500 million in middle-class tax relief.