Big Sky District Sells Munis to Build Homes for Ski Town Workers

Much of the workforce in the stunning Rocky Mountain ski paradise of Big Sky, Montana, can’t afford to live there.

But a municipal-bond deal this week will help chip away at the affordable housing shortage in the posh locale, located near Yellowstone National Park. The area has become a playground for billionaires and Hollywood celebrities as well as home to the Big Sky Resort and the Yellowstone Club, where heiress Paris Hilton hit the slopes earlier this year.

Proceeds from the $53 million debt sale by the Big Sky Resort Area District will finance the purchase of a tract of ...