Land trust addresses housing issues with new leadership
The Northwest Montana Community Land Trust, in partnership with NeighborWorks MT, has hired Kim Morisaki as the organization's executive director.
The organization also added a new board member in preparation for expansion of the nonprofit's affordable housing inventory.
Morisaki will lead strategic planning, fundraising and operations. She previously worked as director of marketing and business development for Montana West Economic Development.
Destini Parker, with the Pend Oreille County Public Utility District, joined eight others on the board of directors.
In partnership with the city of Kalispell the organization was established in 2009 to purchase and rehabilitate homes that were then sold at affordable prices while the underlying land was held in a permanent land trust.
Homeowners pay a $25 monthly ground-lease fee and agree to sell the home back to the Northwest Montana Community Land Trust at a price that allows them to capture their initial investment plus 25% of the increase in appraised value since they purchased the home. The homes are then resold at the below-market rate to other qualified home buyers who have an income at or below 120% of the area's median income for their family size.
The ground-leasing system allows the homes to be owned at prices attainable for typical people in the Flathead Valley workforce, families and senior citizens, and keeps the prices of the 52 homes in Kalispell affordable in perpetuity while allowing owners to enjoy the benefits of home ownership.
The land trust is now focused on expanding their property inventory beyond the 52 homes originally purchased with Neighborhood Stabilization Program funds after the last recession.
The homes are scattered throughout Kalispell. The organization is actively looking for opportunities in Columbia Falls and Kalispell and throughout Flathead County, as well as considering projects in Lake, Lincoln and Sanders counties.
The organization can use federal and state funds with private donations of either property or cash while working with private developers or interested community members who have a desire to see home ownership remain possible for the average Flathead Valley resident. Donations of land or cash could have tax benefits and private developers and citizens are encouraged to inquire.
The trust has an online calculator that allows anyone to see if they qualify for the program based on household size and income; 100% of Area Median Income for a family of four in the Flathead Valley is $71,000 and $49,500 for an individual. Application will be considered from anyone meeting the requirements with up to 120% AMI.
Additional information and an application can be found at www.nwmtclt.org. Individuals and organizations that would like to know more or contribute to the organization's efforts can contact Morisaki at 406-261-8831.