Affordable housing developments in Billings, Laurel and Lewistown were awarded approximately $19.6 million of the $32.6 million in tax credits recently approved by the Montana Board of Housing. | Stock Photo at Getty Images
Affordable housing developments in Billings, Laurel and Lewistown were awarded approximately $19.6 million of the $32.6 million in tax credits recently approved by the Montana Board of Housing. | Stock Photo at Getty Images
The Montana Board of Housing recently approved $32.6 million in tax credits for six affordable housing developments around the state.
Communities with developments receiving the tax credits include Billings, Laurel and Lewistown, according to a state news release.
Two Billings developments will receive tax credits, including Jackson Court – $6.4 million to build 38 homes – and MRM Unified Campus – $6.4 million to rehabilitate and preserve 29 existing homes, according to the release. The estimated project cost for Jackson Court is almost $8.8 million and the estimated project cost for MRM Unified Campus is almost $12 million.
In Laurel, Laurel Depot is set to receive $3.5 million for a new development, though the tax credit is dependent on GL Development submitting a revised application, according to the release. There was no estimated final cost supplied.
Crowley Flats, in Lewistown, is expected to receive a $3.1 million tax credit for construction of 16 homes. The estimated project cost is over $3.4 million.
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