chfa enews
March/April 2018
In this issue:

steve hutt named chair of board of directors

CHFA is pleased to announce that Steve Hutt, Executive Director of the Denver Employees Retirement Plan, has been named CHFA’s Board Chair for the 2018-2019 Board term. CHFA’s 11-member board serves as the governing body of the organization and establishes policies to further its mission of affordable housing and community development.

Steve has served on CHFA’s board since 2013. His association with the Denver Employees Retirement Plan began in 1998 when he was appointed by Mayor Wellington Webb to serve as one of five members of its board of directors. In November 2004, he became the pension plan’s third executive director since its inception in 1963. The Retirement Plan has assets of over $2.2 billion and serves approximately 22,000 members.

Read the news release to learn more.


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chfa awarded $7.1 million capital magnet fund grant



CHFA was awarded a $7.1 million Capital Magnet Fund (CMF) grant to support the development and preservation of affordable rental housing across Colorado. CHFA estimates these resources will help provide housing for approximately 725 Colorado households in both rural and urban communities.

CHFA was the only entity in Colorado, and one of only five housing finance agencies in the nation to receive an award. CHFA's grant was the second largest amount awarded to the 40 recipients nationwide.

Read the news release to learn more.



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april is fair housing month



April is National Fair Housing Month and 2018 marks the 50th anniversary of the signing of the Fair Housing Act. The Fair Housing Act was enacted on April 11, 1968.

The Fair Housing Act protects people from discrimination when they are renting, buying, or securing financing for housing. The prohibitions specifically cover discrimination because of race, color, national origin, religion, sex, disability, and the presence of children.*

Visit CHFA’s webpage dedicated to Fair Housing Month, chfainfo.com/fhm, to learn more about fair housing, local events, and ways to get involved.

*Source: U.S. Department of Housing and Urban Development



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sb18-007 passes house finance committee on 10-3 vote



Colorado’s House Finance Committee advanced SB18-007, which would extend the state Affordable Housing Tax Credit program through 2024. The bill passed with bipartisan support on a 10-3 vote and will be heard next before the House Appropriations Committee.

Read the Bill Fact Sheet to learn more about why this program is important to Colorado’s affordable housing. Click here to join our coalition in support of SB18-007.


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fy 2018 omnibus bill supports key affordable housing priorities



The Omnibus spending bill for FY 2018 was signed into legislation by President Trump on March 23. Included in the bill are several affordable housing priorities:
  • Provides a 12.5 percent increase in Low Income Housing Tax Credit (LIHTC) authority for four years beginning in 2018. CHFA is the allocating agency for federal LIHTC in Colorado and because of this increase, CHFA will have approximately $1.6 million in additional 9 percent credit available for allocation this year.
  • Permanently allows developers to choose income averaging as an alternative to the existing Housing Credit income rules, which would make eligible households earning as much as 80 percent of area median income (AMI), provided that the average household income limit for the property is no more than 60 percent of AMI
  • Increases funding for the HOME Investment Partnership (HOME) program at $1.362 billion, up from $950 million in FY 2017
Click here to learn more.



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2017 community report available



CHFA’s 2017 Community Report is now available. Below are some of the highlights!

In 2017 CHFA:
  • Invested in homeownership: 8,256 customers served with home mortgage loans or mortgage credit certificates

  • Helped Colorado’s most vulnerable populations: 6,322 affordable rental housing units supported with multifamily loans and/or Low Income Housing Tax Credits

  • Strengthened Colorado economies: 4,270 jobs impacted by CHFA’s business finance programs


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affordable rental housing development celebrations

Two affordable rental housing properties supported with Low Income Housing Tax Credits (LIHTC) recently celebrated milestones:
  • St. Francis Apartments at Cathedral Square is a new 50-unit Permanent Supportive Housing development serving formerly homeless individuals and families. A grand opening was celebrated at the property, which is centrally located in Denver’s Capitol Hill neighborhood. CHFA was proud to support St. Francis Apartments by awarding $907,489 in federal 9 percent LIHTC in 2015.

  • Paris Family Apartments will be a 39-unit development serving families. A groundbreaking celebration was held at the project site in Aurora. CHFA was proud to support Paris Family Apartments by awarding $653,198 in federal 9 percent LIHTC. CHFA Executive Director and CEO, Cris White, spoke at the groundbreaking.
Pictured: Paris Family Apartments groundbreaking, March 21, 2018


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chfa supports partners



CHFA was proud to sponsor and participate in recent events hosted by our national and local partners, including:
  • Rep. Ed Perlmutter’s Housing Panel Discussion and Resource Fair, Wheat Ridge
  • Neighbor to Neighbor Soup Supper, Fort Collins
  • Housing Resources of Western Colorado Gin and Jazz Benefit Concert, Grand Junction
  • ULI Colorado Partnership Forum Mid-year Meet Up, Denver
  • NCSHA 2018 Legislative Conference, Washington D.C.
  • Arrupe Jesuit High School “Stories of Promise: A Classic Magis Night 2018,” Denver
  • Colorado SBDC 11th Annual Veteran’s Small Business Conference, Colorado Springs
  • ULI Colorado “Finding Room for the Missing Middle” Forum, Denver
Pictured: Networking at ULI Colorado “Finding Room for the Missing Middle” Forum, March 1, 2018

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upcoming events

CHFA is proud to sponsor and/or participate in the following events hosted by our partners:


April 12
CMLA 2018 Rocky Mountain Mortgage Lenders Expo, Denver

April 14
Minds Matter of Denver Casino Night 2018, Denver

April 21 – 28
Money Smart Week®

April 24
Habitat for Humanity Annual Breakfast for Humanity, Glendale

April 24
EDCC 2018 Regional Economic Development Forum, Westminster

April 25
DRCOG “People. Place. Elevated.” Metro Vision Awards, Denver

April 25
Women's Bean Project Ready. Set. Grow. Luncheon Fundraiser, Denver

April 26
Housing Colorado Eagle Awards Gala, Lakewood

April 26
The Delores Project “Building Paths Together Breakfast,” Denver

May 3
Laradon Homes Groundbreaking, Denver May 4 Bayaud Enterprises McDonald Family Tribute Luncheon, Denver

May 10
Alto at Westminster Station Grand Opening, Westminster

May 10
HomeAid Colorado Building Homes: Rebuilding Lives Breakfast Fundraiser, Lone Tree



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Want to know more about CHFA? Visit www.chfainfo.com.

questions?

Jerilynn Martinez
Director, Marketing and Community Relations
jmartinez@chfainfo.com or 303.297.7427


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