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The Affordable Housing Trust Fund
Funding Guidelines & Documents
Fair Housing
Housing Resources in Missoula
Recommended in the 2019 housing policy "A Place to Call Home," Missoula's Affordable Housing Trust Fund was established in July 2020. Its purpose as Missoula's only local funding source for affordable homes is to provide a dedicated, flexible, local funding source to support housing activities in Missoula and to provide the consistency and predictability that enables long-range planning, multi-year projects, and measured risk-taking in order to adress the city's severe housing needs. It is a revolving fund with a competitive application process intended to allow the leveraging of other outside resources and augment the need for annual fund-seeking from other federal and private sources.
Funding Eligibilities
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Staff Directory
The Affordable Housing Trust Fund provides direct funding to developers, nonprofits, and organizations to develop projects that create and preserve housing that Missoulians can afford. Funding levels available in the Affordable Housing Fund vary each year depending on the annual budget process. See the following list for examples of projects eligible for funding.
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Community housing services programs
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Construction and rehabilitation of rental and homeowner housing
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Development of accessory dwelling units
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For more information on what projects are eligible to be funded, please review the Funding Guidelines
Planning & Allocation Process
Montana James
Deputy Director, CPDI
(406) 552-6396
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Rikki Henderson
Housing Programs Manager, CPDI
(406) 552-6648
Emily Harris-Shears
Housing Policy Specialist, CPDI
(406) 552-6394
harris-shearse@ci.missoula.mt.us
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Aubrey Godbey
Affordable Housing Trust Fund Coordinator,
CPDI
(406) 552-6219
Funds will be disbursed on a City of Missoula Fiscal Year basis (July 1 - June 30). This allows applicants to leverage funding sources and coordinate programming as well as helping the city maxmize efficiency in administrations of funds. Funds not awarded in the annual cycle may be available throughout the year, by invitation from city staff, for projects that cannot wait for the next competitive round of funding.
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Figure 1 shows an overview of the annual process for the Affordable Housing Trust Fund (AHTF). The annual process begins in the fall of each fiscal year.
Figure 1. AHTF Annual Process
Program Timeline
Our Program Year runs July 1 - June 30. These timeframes are subject to change.
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December-January: Community needs assessment and AHTF allocation plan
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January: Application workshop for interested applicants
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February: Applications due
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March: Scoring Committee
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May: Chosen projects are presented to council
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June: Contracts are signed, funds are distributed
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July: Program year begins
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July-June: Project outcomes are reported to CD
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October: Outcomes are reported in the CAPER and the Annual Housing Assessment Report
Figure 2. Program Timeline
Applying for Funding
Donations
Once the annual goals for trust fund investments have been established through the annual allocation plan, staff will open a competitive application process for the trust fund.
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The timing of the competitive funding cycle will align with other funding cycles administered from CPDI. An application workshop will be hosted in January of each year to open the application period, and outline the funding priorities set in the allocation plan and the application process and deadlines. Applicants are required to submit pre-applications; submissions will be reviewed, and those identified as viable and align with the priorities outlined in the annual allocation plan will be invited to submit a full application. Further instructions can be found in the application guidelines.
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Types of Awards:
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Grants and loans will be made from the trust fund. Award terms will be determined on a per project basis and specified in the contract. Loan terms will be flexible, both short and long-term and interest rates will be set based on project needs.
The Affordable Housing Trust Fund by the City of Missoula will be accepting donations from the community through a third party source. More information will be available here May 2022.
Funding & Outcomes
A updated chart of the Affordable Housing Trust Fund's contributions to the community of Missoula for this year will be available May 2022.
Follow the Engage Missoula page to see the effects of the Affordable Housing Trust Fund in Missoula!
The Affordable Housing Resident Oversight Committee
The Affordable Housing Resident Oversight Committee (AHROC) helps guide the strategic direction of the Affordable Housing Trust fund and provides expert resident input on specific issues and allocation priorities. The role of the Resident Advisory Committee is to advise City of Missoula staff and leadership on:
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Development of goals and programs related to the use of Affordable Housing Trust Fund resources;
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Allocation priorities for the Affordable Housing Trust Fund resources.
Based on the information, feedback, and data collected through the housing assessment report and community needs assessment, an Anual Allocation Plan is produced by the Affordable Housing Resident Oversight Committee, setting goals for the upcoming fiscal year for Trust Fund investments. The allocation plan will clearly outline the revenue sources, funding priorities and restrictions for the upcoming grantmaking cycle. The Affordable Housing Resident Oversight Committee will draft and recommend the adoption of the final plan to the Mayor who will make the final approval determination.
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Funding recommendations will be made by the application review committee and CPDI staff. Grant agreements are initiated by the Affordable Housing Trust Fund Administrator and approved by the Deputy Director of the Community Development Division in CPDI. Approved grant agreements are routed City Council and are signed by the Mayor.
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The Affordable Housing Resident Oversight Committee will receive an update of funding decisions once contracts are approved by City Council.
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Specific Powers and Duties of the AHROC
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Review the annual Housing Assessment Report and recommend any changes, updates, or additions to the report.
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Reflect on the findings of the annual Housing Assessment Report to determine emerging trends and needs in the Missoula community related to housing policy and the housing market.
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Adopt and annually review the Affordable Housing Trust Fund Administrative Policies and Procedures.
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Review and make annual recommendations for funding priorities to city staff in the form of the annual Affordable Housing Trust Fund Allocation Plan.
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Set the Reserve Fund balance annually through the Allocation Plan and oversee the use of the balance by voting on project proposals.
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Consult with experts in areas such as finance, real estate, and affordable housing development to obtain advice on housing needs.
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Make recommendations to city staff for ordinances and regulations the board deems to be in the public's best interest for the purpose of carrying out the City's affordable housing objectives.
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Advise City staff as they develop programming and products for housing policy implementation.
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Trust Fund Reserve Balance
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Up to 20% of the total funds available are withheld as a reserve balance to respond to urgent and emergent preservation and acquisition projects that cannot wait until the next competitive application cycle. The reserve balance helps to protect and preserve affordability for residents. The Affordable Housing Resident Oversight Committee oversees the reserve balance by setting the annual amount available and making funding recommendations.
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To learn more about accessing the reserve balance, contact Aubrey Godbey (see Staff Directory above).
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