Town & Country Foods, Inc. (T&C), owned by the Perlinski family, has been in the business of providing low-cost groceries in Bozeman, Montana for four decades. T&C began its warehouse style of grocery store in an old tea cannery building in Bozeman’s industrial neighborhood. Through the years, T&C has become a fixture in the Bozeman community, offering affordable, local, and organic groceries. In 2009, the Perlinski’s considered opening a second store in Bozeman’s underserved, low-income, Southside neighborhood that did not have a local grocery. To help T&C open its second location and reach an underserved community, Montana CDC, working with Big Sky Western Bank, provided $8 million in NMTC financing for the purchase and renovation of a vacant movie theater. The newly renovated T&C houses the grocery store, which provides the Southside community access to local and organic groceries, and also includes additional retail and restaurant space in an area of town with few commercial services. The NMTC investment generated over 60 permanent full-time jobs, 10 part-time jobs and 100 construction jobs, all in an area with an unemployment rate well above the national average. T&C has a stellar track record of employee loyalty and these high quality jobs feature excellent benefits, including employee ownership options. T & C has created a catalytic effect on Bozeman’s Southside neighborhood. New infrastructure improvements such as a new traffic light, new bike lanes, and improved sidewalks and streetscapes provide an anchor for future commercial services and encourage foot traffic. The neighborhood has also become more resident friendly, witha grocery store where people need it, and making the area more amenable for further development. Since T&C moved into the neighborhood, the area has been designated a residential emphasis mixed-used zoning area (REMU) which will encourage more services and development of the area. In fact, two previously vacant lots have recently been identified for development into mixed use housing and commercial spaces.
This rural Montana hardware store is doubling their current size by building on a former dumpsite allowing them to expand commercial goods and services offered and create accessible jobs.
A LOCALLY OWNED GROCERY STORE IN MONTANA IS EXPANDING IN A REDEVELOPING AREA PROVIDING A CATALYST FOR FURTHER DEVELOPMENT AND NUMEROUS ACCESSIBLE JOBS.
Rehabilitation of abandoned downtown buildings into commercial office space.
After standing vacant for nearly a decade, the final lot leveled by a 2009 natural gas explosion is bringing new community benefits to downtown Bozeman. The new Osborne Building at 233 E. Main St. will be an innovative reflection of Bozeman’s modern economy, with restaurant space, rental office space for nonprofits that serve low-income communities, and flexible office space for startups and small businesses. The concept for the new 33,000-square-foot building was developed by local businessmen Bryan Klein, Casey Durham, Chad Bottcher and Jamie Bottcher, who wanted to find a solution for the lot that would not only address a longstanding vacancy but also help meet community needs.
Montana Community Development Corporation (Montana CDC) completed its first New Markets Tax Credit (NMTC) transaction in Indian Country to finance a new government administration building on the Fort Peck Reservation. The new facility will consolidate the Fort Peck Tribal Government’s offices in Poplar, making it easier for tribal members to access new and enhanced service offerings, and enabling the Tribe to hire five additional people. Collaboration between several partners brought the project to reality. Montana CDC provided $7.4 million in NMTC allocation, while U.S. Bank Community Development Corporation provided a tax credit equity investment and U.S. Bank provided a construction loan. The new building will house social, medical, employment, education, and natural resource services. The NMTC transaction also provided funds for an innovative grant program that will enhance the quality of the Tribe’s food assistance program and increase the amount of food provided to low-income residents. ‘Fort Peck’s new facility will make it easier for tribal members to access critical services that improve their quality of life and open up job opportunities. Montana succeeds when Indian Country succeeds, and I’ll keep working to make sure Montana CDC can access resources to support all of Montana’s communities,’ said U.S. Senator Jon Tester, a longtime supporter of NMTCs.
The longstanding Rainbow Motel has undergone a massive renovation and reopened Wednesday, July 11, 2018, as RSVP Motel, a new boutique motel that will contribute to the ongoing revitalization of North Seventh Avenue in the Midtown section of Bozeman. Last fall, the Folkvord family began work to transform the iconic motor inn.
Family Service, an assistance organization for low-income families and seniors, has made the move to the South Side and a larger headquarters. The organization just closed on its new 57,000-square-foot location.
Coffee wholesaler and store
To meet growing demand for its services, the Missoula Food Bank on Monday, Feb. 27, 2017, closed on financing for its new $6.6 million headquarters at 1720 Wyoming St. with the help of the MoFi, First Security Bank and the New Markets Tax Credit (NMTC) Program. Using NMTCs, MoFi provided $1.4 million in funding that the Food Bank wouldn’t otherwise have received. Construction of the new headquarters wouldn’t have been possible on the same scale without NMTC funding.