Missoula city officials have come up with what they say is an innovative program, a first in Montana, to incentivize builders to create housing that people making local wages can actually afford.
The Missoula Redevelopment Agency is inviting housing developers to discuss options for receiving Tax Increment Financing for projects that include workforce housing units after a new set of guidelines for a pilot project was approved last month by the agency’s board.
A housing project under construction in Missoula in 2018.
TOMMY MARTINO, Missoulian
“Tax Increment Financing is the single greatest tool that we have as a local government in Montana for economic development and construction of infrastructure,” said Missoula Mayor Jordan Hess. “Through this workforce housing policy, we are shifting our focus, in part, to developing housing Missoulians can afford. The program is nimble and flexible, and it allows us to use this tool to address the pressing issue in our community — housing.”
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Workforce housing in Montana is defined as housing serving individuals or families