In this issue:
state affordable housing tax credit extended
On May 22, Gov. Hickenlooper signed SB18-007
into law, extending Colorado’s Affordable Housing Tax Credit (state AHTC) program through 2024. CHFA is the allocating agency for state and federal Affordable Housing Tax Credit in Colorado. Senator Jack Tate, Senator Lucia Guzman, Speaker of the House Crisanta
Duran, and Representative Jon Becker sponsored
Originally renewed in the 2014 legislative session, the state AHTC has proven to be a critical resource, leveraging over $465 million in private sector investment into Colorado, which in turn has helped support over 4,000 affordable apartments be developed or preserved.
“As so many Coloradans struggle to afford housing, the state AHTC remains an imperative program to create and sustain affordable rental housing stock in our communities. Nearly half of the state's renter population is cost-burdened, spending more than 30 percent of their gross annual income on housing costs, demonstrating the importance of resources to support affordable rental housing,” said Cris White, CHFA Executive Director and CEO.
Read the news release to learn more.
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DRCOG honors CHFA with metro vision award
The Denver Regional Council of Governments (DRCOG) recently hosted its Metro Vision Awards Gala. CHFA was honored with a Metro Vision Award for our efforts with Colorado’s Housing Preservation Network (HPN). The award recognizes HPN’s success in preserving affordable rental units in the Denver Metro area and throughout Colorado since being founded in 2016.
HPN is a unique public-private partnership that consists of CHFA, DOH, HUD, City and County of Denver, and many others in the public, private, and nonprofit sectors. HPN has worked together to preserve 9,091 affordable rental housing units since 2016. Many of these units were potentially at risk of converting to market rate and were also in need of significant renovations.
View the award video and read the
news release to learn more.
Pictured: Members of CHFA staff and HPN attending the Metro Vision Awards Gala
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2018 housing forum colorado is underway
Housing Forum Colorado has kicked off its 2018 event series. The first event was held in Grand Junction and more than 30 attendees participated. This CHFA premier event is an opportunity for lenders and real estate professionals to hear the latest information on federal, state, and local lending programs that could be of benefit to their customers.
The 2018 Housing Forum Colorado will continue to feature housing updates from our agency partners: FHA, VA, RD, CHAC, and local down payment assistance programs (where available), in addition to information about CHFA’s programs and guidelines.
Listed below are the remaining HFC events:
June 19, 2018 - Colorado Springs - sold out
June 21, 2018 - Denver
July 10, 2018 - Fort Morgan
Click here to learn more.
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affordable rental housing development celebrations
Several affordable rental housing properties supported with Low Income Housing Tax Credits (LIHTC) recently celebrated milestones:
- Porter House Apartments is a new 100-unit property that celebrated its grand opening in Greeley. Porter House Apartments provides housing opportunities to those displaced or currently living in substandard or overcrowded housing due to the impact that the 2013 floods had on the surrounding community. CHFA was proud to support Porter House Apartments by awarding $618,908 in federal LIHTC and $967,044 in state LIHTC in 2015. Additionally, CHFA provided a Risk Share construction-to-permanent loan to support Porter Housing Apartment.
- Alto at Westminster Station offers 70 units and celebrated its grand opening at its location within the South Westminster Urban Renewal District. Supportive services are provided to residents including life skills, parenting, GED, and health services.CHFA was proud to support Alto by awarding $1,250,000 in federal Low Income Housing Tax Credits in 2015.
- SPARKwest is located in Boulder’s new urban living transit community and is now open. The property offers 47 units and given its location, provides multiple modes of transportation to and from Denver for its residents. CHFA was proud to support SPARKwest by awarding $678,982 in state LIHTC, and $582,403 in federal LIHTC in 2016.
- The Highlands 2 hosted an event to celebrate the concrete pouring of its foundation. Upon completion, The Highlands 2 will offer 72 units to seniors in Grand Junction. CHFA was proud to support The Highlands 2 by awarding $1,250,000 in federal LIHTC in 2017. The Highlands 2 will also benefit from a $150,000 tenant programming grant from the Healthy Housing Fund, administered by CHFA.
- The Elisabetta hosted a groundbreaking ceremony for the 91-unit project being built in Denver’s Globeville neighborhood. The development will be located across the street from Laradon and will partner with Laradon to offer supportive services such as move-in assistance, crisis intervention, job skills training, and education. CHFA was proud to support The Elisabetta by awarding $1,044,784 in federal LIHTC and $869,064 in state LIHTC. Additionally, CHFA issued $14.5 million in tax-exempt private activity bonds to support the project.
- Palo Park Community celebrated its grand opening and offers 35 units to individuals and families in Boulder. The new development was developed by Boulder Housing Partners and is located along the Fourmile Canyon Creek near footpaths, biking, and hiking trails. CHFA was proud to support Palo Park by awarding $589,591 in state LIHTC and $379,697 in federal 4 percent LIHTC in 2016.
- Moline at Stapleton broke ground in Denver and will offer 180 units affordable to individuals and families. Moline at Stapleton will offer an important opportunity for walkable access to jobs, top-rated schools, other community amenities,
and transit stops connecting to the entire Denver Metro area. CHFA was proud to support Moline at Stapleton Apartments by awarding $1,003,280 in federal 4 percent LIHTC. Additionally, CHFA awarded $20 million in tax-exempt
private activity bonds to support the project.
Pictured: Groundbreaking of The Elisabetta courtesy of Gorman & Company / Bear Gutierrez
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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:
Pictured: Panel at Colorado NAHRO 2018 Annual Conference
- Colorado Counties, Inc. Foundation’s Summer Conference, Keystone
- Colorado NAHRO 2018 Annual Conference, Vail
- City and County of Denver Office of Economic Development’s 2018 Housing Summit, Denver
- Protiviti’s Diversity and Inclusion Panel, Denver
- Congressman Coffman’s Small Business Resource and Lenders Fair, Centennial
- Brothers Redevelopment Paint-a-Thon 40th Anniversary Celebration, Edgewater
- Manny’s Summer Fest Benefitting Senior Support Services, Denver
- Habitat for Humanity’s Camp Colorado, Keystone
- Bayaud Enterprises McDonald Family Tribute Luncheon, Denver
- HomeAid Colorado’s “Building Homes: Rebuilding Lives” Breakfast, Lone Tree
- DMCC’s State of the State, Denver
- Denver NAREB’s “Homebuyer Education Seminar: Educating Buyers and Sellers,” Denver
- Housing Colorado Eagle Awards Gala, Lakewood
- The Delores Project’s “Building Paths Together” Breakfast, Denver
- Women’s Bean Project’s “Ready, Set, Grow!” Luncheon, Denver
- Habitat for Humanity’s Annual Breakfast for Humanity, Glendale
- Colorado Women’s Chamber’s “Girls Rising: Building a Pipeline of Women Leaders,” Denver
- EDCC’s Region 3: Northwest Front Range Economic Development Forum, Westminster
- Downtown Colorado Inc.’s Vibrant Downtowns Event, Boulder
- CMLA’s 2018 Rocky Mountain Mortgage Lenders Expo, Denver
- Minds Matter of Denver’s 14th Annual Casino Night, Denver
- SBDC’s Veteran’s Small Business Conference, Colorado Springs
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Colorado Municipal League Conference, Vail
NCSHA Housing Credit Connect, Chicago
Roaring Fork Apartments Grand Opening, Basalt
2018 CHFA David W. Herlinger Golf Tournament
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