Housing

Max Baucus: Getting the Housing Market Back on Track and Investing in Housing Infrastructure.

As chairman of the powerful Senate Finance Committee, Montana’s senior U.S. Senator, Max Baucus was a key author of the Jobs Bill- working to ensure the economic recovery legislation was right for Montana. The Jobs Bill will bring more than $600 million dollars to Montana and create or sustain more than 11,000 jobs.

This Jobs Bill will invest in Montana’s housing infrastructure, creating good paying jobs and ensuring affordable housing for Montana families. The bill will also help stem foreclosures and create incentives to stabilize the housing market. 

Jobs Bill Provisions for Montana include an estimated:

• $4.4 million through the Public Housing Capital Fund. These dollars will enable Montana’s local public housing agencies to address the backlog in capital needs, including improving energy efficiency in aging developments.
• $2.5 million in Community Development Block Grant (CDBG) funding to Montana’s communities economic development projects including housing and services for families hit hard by the economic downturn.
• $8 million in HOME funding, to enable Montana’s communities, in partnership with community-based organizations, to acquire, construct, and rehabilitate affordable housing and provide rental assistance to struggling families. 
• $11.4 million for Montana’s tribal housing authorities.
• $3.7 million for Montana’s homelessness prevention programs.
• $7.8 million for the Montana Tax Credit Assistance Program to assist in the development of affordable housing in Montana. 

The Jobs Bill also includes an expanded First-Time Homebuyer Tax Credit of $8,000 for Montanans who purchase a home in 2009.

There are several resources available for organizations interested in receiving some of this vital funding. The websites recovery.gov and recovery.mt.gov are excellent places to start.  Baucus staff can also offer support including help contacting the appropriate agency or department and providing support during the funding process.