News

$1.65 Million Award Increases Affordable Housing Options for Low-Income People in Montana and Idaho

In 2013, the residents at River Acres, a manufactured home community in Missoula, faced possible eviction. The owner of the land under their homes wanted to sell. A loan from Montana CDC helped the community, which consists of 68 residents living on 31 home sites, buy the land, giving the residents long-term, stable housing and control of their own destiny.

In the last two years, Montana CDC has financed the purchase of two additional manufactured home communities or "mobile home parks" by resident managed cooperatives. River Acres was the first, followed by Northwood Community in Ronan, and Trailer Terrace in Great Falls. All told, 421 people gained secure housing. A recent $1.65 million award from the CDFI Fund will help build a loan fund dedicated to Resident Owned Community (ROC) lending.

Read the full story here http://mtcdc.org/about-us/news-reports/165-million-award-increases-affordable-housing-options-for-low-income-people-in-montana-and-idaho/

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.