1. (1) The board may make a HMF or MHT-HMF loan for the following purposes:

   1. (a) matching funds for public or private funds available from other sources for the development of housing for low-income or moderate income households;
   2. (b) bridge financing necessary to make development of housing for low-income or moderate income households feasible;
   3. (c) acquisition of existing housing stock for the purpose of preservation of or conversion to housing for low-income or moderate income households;
   4. (d) preconstruction technical assistance as described in 90-6-134(4), MCA, for housing for low-income and moderate income households in rural areas and small municipalities;
   5. (e) acquisition of land for housing developments, land banking, and land trusts; and
   6. (f) short-term, site-based housing vouchers for needy individuals.
2. (2) A HMF or MHT-HMF loan may not be made that will replace existing or available funding for eligible activities.
3. (3) Both HMF loans and MHT-HMF loans are subject to the requirements in 90-6-133(1)(b), MCA, that 20% of money allocated to HMF and the MHT-HMF must be disbursed to rural areas.

Authorizing statute(s): 90-6-136, MCA

Implementing statute(s): 90-6-133, 90-6-134, MCA

History: NEW, 2002 MAR p. 75, Eff. 1/18/02; AMD, 2008 MAR p. 40, Eff. 1/18/08; AMD, 2023 MAR p. 1405, Eff. 10/21/23; AMD, 2025 MAR, Notice No. 2025-345, Eff. 11/8/25.