Montana Code 90-6-109. Procedure prior to financing of housing developments
90-6-109. Procedure prior to financing of housing developments. (1) The board may finance housing developments under this part only when the board finds that:
Terms Used In Montana Code 90-6-109
- Board: means the board of housing created in 2-15-1814. See Montana Code 90-6-103
- Housing development: means single-family homes, multifamily projects, housing for the elderly projects, nursing home projects, personal-care projects, and any work or undertaking financed in whole or in part under this part for the primary purpose of acquiring, constructing, or rehabilitating accommodations for persons or families of lower income in need of housing. See Montana Code 90-6-103
- Housing sponsor: means individuals, joint ventures, partnerships, limited partnerships, trusts, firms, associations, corporations, governmental agencies, limited-profit housing sponsors, nonprofit corporations, or other legal entities or any combination of the entities listed in this subsection that are:
(a)approved by the board;
(b)qualified to either own, construct, acquire, rehabilitate, operate, manage, or maintain a housing development;
(c)subject to the rules of the board and other terms and conditions set forth in this part. See Montana Code 90-6-103
- Persons and families of lower income: means persons and families with insufficient personal or family income or other financial resources who require assistance under this part, as determined by the board, taking into consideration:
(a)the amount of the total personal and family income, assets, and other financial resources available for housing needs;
(b)the size of the family;
(c)the eligibility of persons and families under federal housing assistance of any type based on lower income or a functional or physical disability;
(d)the ability of persons and families to compete successfully in the normal housing market and to pay the amount at which private enterprise is providing decent, safe, and sanitary housing;
(e)the availability and cost of housing in particular areas; and
(f)needs of particular persons or families because of age or physical disabilities. See Montana Code 90-6-103
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(a)there exists a shortage of decent, safe, and sanitary housing at rentals or prices which persons and families of lower income can afford within the general housing market area to be served by the proposed housing development;
(b)private enterprise has not provided an adequate supply of decent, safe, and sanitary housing in the housing market area at rentals or prices which persons or families of lower income can afford or provided sufficient mortgage financing for housing developments for occupancy by persons or families of lower income;
(c)the housing sponsor undertaking the proposed housing development in this state will supply well planned, well designed housing, and such sponsors are financially responsible;
(d)the housing development to be assisted under this part will be of public use and will provide a public benefit, taking into account the existence of local government comprehensive plans, housing and land use plans and regulations, areawide plans, and other public desires;
(e)the housing development does not involve the construction of second homes (for purposes of this paragraph, “second home” means a home which would not qualify as the primary residence of the taxpayer for federal income tax purposes relating to capital gains on the sale or exchange of residential property); and
(f)as to direct loans it is necessary to qualify for federal funds.
(2)The findings required under subsection (1) must be made after a public hearing whenever the financing of housing relates to a development for rental units owned by a for-profit housing sponsor. The board shall conduct the hearing unless it directs the governing body of the local government in which the proposed housing development is to be located to conduct the hearing.