Montana’s CDBG Economic Development program is designed to stimulate economic development activity by assisting Montana’s private sector to create or retain jobs for low- to moderate-income (LMI) Montanans, i.e. individuals earning less than 80% of the area median income. The program can assist businesses by making fixed-rate financing available to them at low interest rates, and can offer payment deferrals, lower payments in the first year, and interest-only payments.
CDBG-ED funds are intended to be used in situations where a funding gap exists and alternative sources of public and private financing are not adequate.
Maximum Award Amount
$400,000 (Combination of Grants and Loans)
Montana incorporated cities and towns, and consolidated city-county governments. (With populations under 50,000) Additionally, local governments may apply on behalf of: Local economic development corporations, Housing Authorities, Community Housing Development Organizations (CHDOs), Water or sewer districts, and Private and nonprofit organizations.
*** Tribal governments are not eligible for state CDBG funds, but they do have access to federal CDBG funding directly through HUD. Additionally, local governments may apply for state CDGB funding on their behalf.