Land Trust eyes Columbia Falls for affordable housing

The Northwest Montana Community Land Trust is hoping to bring some affordable housing options to Columbia Falls. The Land Trust recently received a $5,000 grant from the Weyerhaeuer Foundation to develop a program here, said Jessica Harmon of the Trust.

The Trust has already created 56 affordable homes in the City of Kalispell over the past several years.

The Trust generally targets vacant homes, fixes them up and then holds title to the land. The homeowner, in turn, only has to find financing for the house, which shaves about $35,000 off the purchase price, Harmon explained.

Since the Trust owns the land in perpetuity, the home remains affordable should the original owner leave, Harmon noted.

The program started locally in 2009, when the State of Montana was awarded $19.6 million of Neighborhood Stabilization Program funds under the Housing and Economic Recovery Act. The City of Kalispell applied for $4 million of the neighborhood funds in a partnership with Community Action Partnership of Northwest Montana. These funds were used for the purchase and redevelopment of abandoned and foreclosed homes. The homes were then placed within the trust, and used to house individuals or families with specific income qualifications.

In order to qualify, the potential homeowner has to have an income below 120 percent of area median income. In Columbia Falls, for an individual that’s currently $50,775. For a family of four, it’s $72,450, Harmon said.

Harmon said getting a program started in Columbia Falls will depend on funding. She said it might be possible to team up with a developer if they’re willing to set aside some properties in a project. They’ll also look for existing homes that are for sale. Columbia Falls a few years ago had a host of foreclosed homes on the market, but real estate is booming again, and the supply of existing homes has tightened considerably.

People who are interested in the program can learn more at its website: https://www.nwmtclt.org