Montana Housing Infrastructure Revolving Bond Program

Borrowers are "eligible government units" as defined in Section 17-5-1604, MCA.

  • Co-purchaser is the entity that will hold 50% or more of the Borrower bond or other security used to finance this project. 
  • Eligible projects are expanding or extending water, wastewater, storm water, street, road, curb, gutter, and sidewalk infrastructure to serve new or rehabilitated residential development. 
  • Fixed or variable-rate financing up to 20 years.
  • Bonds or other securities purchased are made on a first come first serve basis.
  • Maximum BOI participation is up to fifty percent (50%) of the bond or other security issued. 
  • Program interest rate is up to twenty-five percent (25%) of the Co-purchaser's rate and is exclusive of any fees. BOI may reduce the interest rate for long-term affordability focused projects as designated by the Borrower.
  • Borrower must demonstrate that:
    • The infrastructure project will provide for residential development at a minimum gross density of 10 units for each acre; and 
    • Made findings that the infrastructure funded in part by a security provides for provisions to preserve long-term affordability of the housing that runs with the property for the term of the security.

Application Process

  • Co-purchaser or Borrower representative completes and submits the Application form.
  • BOI completes a full underwriting credit review.