East Helena, Habitat to apply for innovative Rose Hills financing

EAST HELENA — East Helena’s City Council voted unanimously Tuesday to apply for a novel infrastructure financing tool for Habitat for Humanity’s planned Rose Hills housing development.

If approved by the Montana Board of Investments, East Helena would be the first city in Montana to use the financing bond created by House Bill 505 during the 2025 legislative session, according to officials.

The vote marks “a significant milestone for Rose Hills and for East Helena,” Madeline Forbis, communications director for Helena Area Habitat for Humanity, said in a statement.

Under the joint proposal, the city would issue an up to $12 million special assessment bond to be purchased by the Montana Board of Investments. The funds would pay for necessary infrastructure to support the planned 1500-home subdivision, including a wastewater lift station, a water tank and turn lanes off Highway 282.

East Helena and Habitat for Humanity next plan to draft and submit their bond application to the Board of Investments. If the Board approves the proposal, the City Council would then hold a final vote on issuing the bond.

“It’s just an indication of the council’s willingness to move forward with this process,” East Helena Mayor Kelly Harris said of Tuesday’s vote. “Nothing is official yet, by any means.”

The proposal review and confirmation could be complete by summer. But Harris said he wants to ensure the city follows all proper processes as it moves forward with this untested financing mechanism. 

“Whenever you’re the first person to do something, there’s always some trepidation,” Harris said. “But that also could put you on the front edge of doing something cool.”