Critical funding for affordable housing in Montana and across the country is on the chopping block.
The Senate Appropriations Committee passed an average 93% decrease of HOME funds in June. If this bill is passed by the full Senate, and with Montana slated to receive a 95% cut, it could be disastrous for millions across the nation as well as thousands of people in our state.
Did you know that Montana’s budget doesn’t include funds for building affordable housing and that the HOME program administered by HUD provides the bulk of gap funding for affordable housing for Montanans? As an illustration, HOME funds are projected to cover a gap of approximately $1,000,000 for Sweetgrass Commons, our upcoming 26-unit affordable housing project in Missoula. A 95% reduction in support for affordable housing like Sweetgrass Commons, for instance, would leave only $50,000 in HOME funds for much-needed housing. There’s no way, as generous as they are, that our donors can fill a $950,000 gap in one, two or even five years.
Without sufficient HOME funds, Homeword will be forced to greatly reduce the number and rate of safe, affordable homes we provide to Montanans. This comes at a time when community leaders are pleading for us to increase our affordable housing around the state because their communities lack safe, decent places for people to live.