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Current Opportunities

Neighborhood Stabilization Program

The Neighborhood Stabilization Program was first mentioned in economic development circles in early 2009, it was designed for small communities such as Valier and Conrad with a number of run down houses that are foreclosed, abandoned or vacant. These towns also have a need for additional nice family homes. Pondera Regional Port Authority (The Port) began to pursue the possibility of participating in the program with the idea that this could be a win/ win situation. Local studies by trained consultants showed that the communities had a need for moderate family houses and this program could provide the funding to help create housing opportunities. The Port envisioned putting local contractors to work, cleaning up run down property and creating some nice homes for families.

The Neighborhood Stabilization Program (NSP) is a program of the federal Department of Housing and Urban Development (HUD) and is being administered through the Montana Department of Commerce with the goal of helping to stabilize the housing market. So far, we have renovated 1 house in Conrad and rebuilt 3 homes, 2 of which are in Conrad and one in Brady. All homes are energy efficient and include a new refrigerator, electric range, microwave, dishwasher, and washer & dryer, thus meeting the goal of helping new home owners keep utility costs down.

Back to the question of, “What does all this have to do with economic development”? We continue to hear of a need for nice family housing in our towns. This has been an opportunity to create some workforce housing opportunities for low and moderate income families to locate here, while being employed in this community and the surrounding communities. The program is also available for local people who may be looking for an opportunity to purchase an affordable home. The project has also provided local contractors with work during a slow time.

The income generated upon sale of the four properties to income qualified buyers is available to be reused by the Port Authority for other approved housing renovation projects. The funds can continue to revolve through the area a few more times with continued renovations or property clean up. As with many programs, the project has encountered a few delays and hurdles through the process, but is creating opportunities that would not be possible to do as a private sector investment. The costs of acquisition and renovation would be prohibitive without the grant subsidy.

The Port is excited to be able to provide affordable housing opportunities in our communities. Please contact the Port Authority at 406-271-7237 if you are interested.

Port Authority Subsidy Policy
Income qualifications: Borrower household income must be less that 120% of Area Median Income. In some cases, the funding organization will set a different income limit as is the case for NSP homes. Household income includes income from all sources: wages, bonuses, child support, rents, and government payments.
Loan terms: There is no interest rate or payments for deferred mortgage loans with equity sharing. The loans are repaid when the home is sold or ownership is otherwise transferred or when the first mortgage on the home is fully paid. Equity sharing is calculated as a ratio of the deferred mortgage loan to the total purchase price of the home (unless a different definition is requested by the funding agency). Equity is defined as the amount remaining after deduction of the paid-in equity, qualified improvements, and initial borrower investment. Equity sharing will be calculated upon repayment of the first mortgage or upon maturity date of the deferred mortgage, unless other repayment reasons apply according to the loan documents or program guidelines.

LOW INCOME: 50% AMI (Area Median Income)
MIDDLE INCOME: 120% AMI (Middle Income Limits are only used for NSP)
Pondera County, MT
FY 2015 Median Family Income: 53191
LOW INCOME 21000 24000 27000 29950 32350 34750 37150 39550
MIDDLE INCOME  50300 57500 64700 71900 77650 83400 89150 94900

The Conrad East Industrial/Commercial Park consists of approximately 38 acres adjacent to Conrad’s north exit off I-15, owned by the City of Conrad. Prime parcel locations are still available. The Port Authority has worked with Conrad’s Industrial Park Committee in selecting lot layout and infrastructure design and developing the park covenants. Port Authority is now assisting with marketing of the lots.
New Industrial / Commercial Park
Approx 38 Acres
Prime parcel locations still available
Will be developed in conjunction with Interstate 15 exit and Rest Area Conrad, MT
Lease options are available on a case by case basis.

View Larger Map

Contact us for details about these exciting development opportunities!

Industrial Park Lots FOR SALE

All lots have water, sewer, natural gas, and 3 phase electricity.
Ready to build.
Lot 1: $90,600.00
Lot 3: $169,200.00
Lot 4: $203,350.00
Lot 5: $187,600.00
Lot 6: $233,200.00
Lot 7: $228,800.00



Pondera Regional Port Authority

PO Box 777
409 S. Main Street, Ste. B
Conrad, MT 59425

Phone: (406) 271-7237
Email: pcpconrad@3rivers.net

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