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Big Sky Chamber Housing Press Release 3.23.16

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March 23, 2016
For More Information, Contact
Kitty Clemens
Executive Director
406-995-3000
 kitty@bigskychamber.com
For Immediate Release:
 
Big Sky Chamber of Commerce, HRDC and the Loren Bough Family announce formation of Big Sky Community Housing Trust
 
The Big Sky Chamber of Commerce and HRDC announced today the formation of the Big Sky Community Housing Trust (BSCHT) which will be the organization responsible for leading the affordable housing effort in the Big Sky community. The BSCHT will operate as a community land trust and apply for tax exempt status with the IRS to provide permanently affordable housing units by acquiring land and removing it from the for-profit real estate market. The BSCHT will hold the land they own “in trust” for the benefit of the community by ensuring that it will always remain affordable.
 
The BSCHT will address the need for affordable housing opportunities in Big Sky for those who are part of the workforce but are unable to afford homes, through development, technical assistance, mortgage counseling, homebuyer education and lending programs. The Housing Trust model has been successfully implemented in other resort communities such as Jackson Hole and Park City.
 
Local resident, Loren Bough, has graciously pledged the initial land donation to the BSCHT with the intention of providing housing for teachers, firefighters, and law enforcement. This donation by Loren and his family is critical to launching the BSCHT in an effort to address the long-term housing needs of the Big Sky community. “Affordable home ownership for full-time families makes Big Sky vibrant and a better place to live for all of us” says Bough. “Our founding donation is a launching pad for the Chamber and HRDC to create permanent, sustainable solutions to Big Sky’s number one dilemma.”  Lone Mountain Land Company will be the development partner working in conjunction with the BSCHT on this first project.
 
A meeting to discuss affordable housing with potential homebuyers will be held at Big Sky School District in early April. This meeting will also serve as the official launch of the Big Sky Community Housing Trust.
 
Interviews of stakeholders will be taking place in the coming weeks. Details on the size and price of the new affordable units will be made available as the project progresses.
 
The Big Sky Chamber of Commerce is a non-profit association of more than 400 members at the local, state, and national level. The Chamber supports the community by operating the Big Sky and Greater Yellowstone Welcome Center conveniently located off of U.S. Highway 191, 43 miles south of Bozeman and just 50 miles north of the Yellowstone National Park west gate.  For more information visit www.bigskychamber.com.
 
HRDC is a nonprofit Community Action Agency dedicated to Building a Better Community.  To learn more about HRDC’s efforts to address affordable housing visit
www.thehrdc.org.
 
HRDC
47995 Gallatin Road

P.O. Box 160965
Big Sky, MT 59716
406.585.4863/www.thehrdc.org
 
Big Sky Chamber of Commerce
55 Lone Mountain Trail
P.O. Box 160100
Big Sky, Montana 59716
406-995-3000/www.bigskychamber.com
 
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About the Big Sky Chamber of Commerce
 
The Big Sky Chamber of Commerce is a-nonprofit association of more than 400 members at the local, state, and national level. The Chamber supports the community by operating the Big Sky and Greater Yellowstone Welcome Center conveniently located off of U.S. Highway 191, 43 miles south of Bozeman and just 50 miles north of the Yellowstone National Park west gate.  For more information visit www.bigskychamber.com

Contact:
Kitty Clemens, Executive Director
kitty@bigskychamber.com, (406) 995-3000