Introducing a plan that serves as a gateway to community stabilization through attainable homeownership for our critical middle-income families.
The Montana Community Reinvestment Plan will generate thousands of homes for hard-working Montanans benefitting every county and community throughout the state. This occurs by enabling regional Community Reinvestment Organizations (CRO) to buy the cost of housing down to an affordable range for Montana’s workforce. The buy-down structure will create a deed-restricted housing inventory which becomes a perpetual attainable workforce housing infrastructure for employers, employees, and entire communities to rely upon for generations to come.
Each CRO would be fully governed and controlled by the citizens, businesses and local governments within each regional community. The operating platform for each CRO would be supported by industry leaders throughout the state and will provide logistical and financial coordination to implement the program.
The initial beneficiaries of the program will be those in the banking, construction, and real estate-related industries throughout Montana. As a result of the cost buy-down feature of the program, an alternate market environment for those industries is created with minimal risk.
The combination of profitability and decreased risk allows the various participants within those industries to prioritize their business activities to create the needed workforce housing product throughout the state.
The Montanan Community Reinvestment Plan (MCRP) is an investment into every community through the reinvestment of State and local resources. Most housing programs are temporary regarding the duration of affordability and use subsidies to benefit the private sector. The MCRP model, however, creates an environment whereby the community becomes the beneficiary of the State and local government resources (not the private sector).
The community becomes the perpetual beneficiary of the reinvestment which is memorialized through a deed restriction ensuring attainable workforce housing for generations to come.
HB 819 is the catalyst for attainable workforce housing in every community throughout Montana.