The East Helena City Council discussed a novel financing proposal for infrastructure in the planned Rose Hills housing development at its January 6 meeting. If approved, East Helena would be the first Montana city to use the state’s new bond financing program, according to city officials.
Mayor Kelly Harris and City Attorney Pete Elverum, along with bond counsel Courtney Ellis of Dorsey Whitney law firm, presented the financing proposal to council members. Jacob Kuntz, executive director of Helena Area Habitat for Humanity, outlined the infrastructure needs that would be financed under the proposal.
The city would issue an up to $12 million special assessment bond to be purchased by the Montana Board of Investments. The bond would pay for infrastructure including a lift station for wastewater, a water tank and turn lanes off Highway 282. The bond would not cover streets, lighting or sidewalks within Rose Hills.
