(1) The board may make a MHT-MFHP loan for the development and preservation of multifamily rental housing projects that provide housing for low-income or moderate-income households and for the following purposes:
- (a) development and construction of multifamily rental housing projects;
- (b) acquisition and/or rehabilitation of existing multifamily rental housing projects for the purpose of preservation of or conversion to housing for low-income or moderate-income households;
- (c) acquisition of land for multifamily rental housing projects including land trusts and for mobile or manufactured homes;
- (d) development or preservation of mobile home parks as defined in 70-33-103, MCA; or
- (e) other purposes authorized in 90-6-137, MCA, which the board determines are consistent with MHT-MFHP loan program objectives, requirements, and which provide sufficient assurances of repayment of GO Housing funds.
- (2) A MHT-MFHP loan may not be used to replace existing or available sources of funding for eligible loan activities.
- (3) Projects funded with a MHT-MFHP loan must be subject to property taxes, except those projects located on tribal lands.
Authorizing statute(s): 90-6-136, MCA
Implementing statute(s): 17-6-308, 90-6-137, MCA
History: NEW, 2019 MAR p. 1631, Eff. 9/21/19; AMD, 2023 MAR p. 1405, Eff. 10/21/23; AMD, 2025 MAR, Notice No. 2025-345, Eff. 11/8/25.