A pilot program that looks to boost the construction of workforce housing and direct revenue into the city's Affordable Housing Trust Fund was approved by the Missoula Redevelopment Agency's board of commissioners on Thursday.
It was revealed recently that the City of Missoula has put down $25,000 in earnest money to purchase the Sleepy Inn Motel, located on East Broadway near the Russell Street Bridge for a total purchase price of over $1 million.
According to Jesse Ramos, the Reserve pedestrian bridge was paid for with TIF funding, or Tax Increment Financing. The TIF grand total for development in Urban Renewal District III comes out to roughly $13 million.
The City of Missoula and the Missoula Redevelopment Agency have received a boost from a local company led by Nick Checota, owner of Stonefly, LLC and Logjam Productions to help complete the planning of the Riverfront Triangle project.