Rule 8.111.803 - CTMH LOAN ELIGIBLE LOAN ACTIVITIES(1) The board may make a CTMH 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 CTMH loan program objectives, requirements, and which provide sufficient assurances of repayment of coal trust funds.(2) A CTMH loan may not be used to replace existing or available sources of funding for eligible loan activities.(3) Projects funded with a CTMH loan must be subject to property taxes, except those projects located on tribal lands.Mont. Admin. r. 8.111.803
NEW, 2019 MAR p. 1631, Eff.9/21/2019; AMD, 2023 MAR p. 1405, Eff. 10/21/2023AUTH: 90-6-136, MCA; IMP: 17-6-308, 90-6-137, MCA [as amended by Ch. 774, Sections 16 and 17, L. 2023]