chfa enews
chfa enews
July/August 2018
In this issue:

golfers raise $75,000 for arrupe jesuit high school

CHFA’s annual David W. Herlinger Golf Tournament raised $75,000 for Arrupe Jesuit High School on Tuesday, July 24, 2018. Arrupe is a co-educational, college preparatory school serving economically disadvantaged students living in Denver’s underserved neighborhoods. The average household income for an Arrupe Jesuit family of four is $36,000, and 77 percent of students qualify for the national free or reduced-price lunch program.

“On behalf of Arrupe Jesuit High School, I want to again thank CHFA for selecting our school as the beneficiary of this year's extraordinary golf tournament. The proceeds of today's event allow Arrupe Jesuit to continue its proud tradition of service to those students and families in our community who have been traditionally underserved. This partnership helps to break the cycle of poverty through education and work,” said President Michael O’Hagan.

Read the news release to learn more.


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CHFA launches capital magnet fund to support affordable housing



CHFA has unveiled its new statewide housing fund, the Capital Magnet Fund, 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.

Funding for the new Capital Magnet Fund comes from a $7.1 million grant recently awarded to CHFA by the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). CHFA will use the proceeds to provide low-interest, flexible financing for developers building or preserving affordable rental housing.

“CHFA’s Capital Magnet Fund is an imperative resource to Colorado as our growing population, combined with escalating development and construction costs, continue to intensify an already challenging housing market,” said Cris White, CHFA Executive Director and CEO.

Read the news release to learn more.


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$500 for 5: CHFA homeowner contest



CHFA’s $500 for 5 contest is underway! The contest invites current CHFA homeownership customers to share what homeownership means to them in five words or less, and submit an accompanying photo, for a chance to win a $500 gift card.

The contest began on June 4 and runs through August 31, with one winner chosen at random each month. Congratulations to our June and July winners, David from Greeley, and Xiao from Colorado Springs. To describe what homeownership means to them, David used the word, “haven,” and Xiao used the words “family, love, security, and connection.”

Visit chfainfo.com/chfa5 to learn more.


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30 years: congratulations cris!



Congratulations to CHFA Executive Director and CEO, Cris White, who is celebrating his 30th year with CHFA! Cris’ journey with CHFA began with a college internship. Upon graduating from Regis University in 1988, Cris accepted a position with CHFA’s business finance team. From there, Cris held roles at CHFA including Asset Management Director and Chief Operating Officer. In 2010, Cris was named Executive Director and CEO. Cris’ leadership over the years has guided CHFA to achieve numerous accomplishments, take our mission to new heights, and embrace an open, inclusive culture.


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2019 LIHTC QAP public hearings



CHFA will hold four public hearings around the state to gather feedback on the 2018 LIHTC Qualified Allocation Plan (QAP) and discuss proposed changes to the 2019 QAP:
  • September 27, Glenwood Springs
  • October 11, Colorado Springs
  • October 18, Greeley
  • October 23, Denver
Please visit CHFA’s website for more details. A black-lined version of the first draft of the 2019 Plan will be available on CHFA’s website on or before August 31, 2018.

Pictured: LIHTC customer, Residences at University Hills, Denver

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affordable rental housing development celebrations



Several affordable rental housing properties supported with Housing Credit and CHFA financing recently celebrated milestones:
  • Crossing Pointe North hosted a groundbreaking ceremony for the new 64-unit property in Thornton. Crossing Pointe will serve seniors ages 62 and older and will be part of the Thornton Crossroads commuter rail station master plan. CHFA supported Crossing Point by awarding $1,250,000 in federal Low Income Housing Tax Credits (LIHTC) in 2017.

  • Journey Home is a new Permanent Supportive Housing (PSH) development serving formerly homeless individuals and families. A grand opening was held to celebrate the first PSH development in the Fremont County region. The 30-unit property is in Cañon City and will offer numerous supportive services to residents. CHFA supported Journey Home by awarding $703,258 in federal LIHTC in 2016.

  • Woodgate Trails recently broke ground and when complete, will offer 50 units of affordable rental housing to seniors in Montrose. The project is located on a major bus route, and close to shopping and a new community center. CHFA supported Woodgate Trails by awarding $1,217,072 in federal 9 percent LIHTC in 2017.

  • Towaoc Supportive Housing celebrated its recent grand opening in Towaoc. The development is the first PSH project to be built on tribal land in Colorado. Towaoc Supportive Housing provides 11 PSH units to serve members of the Ute Mountain Ute Tribe’s homeless and at-risk populations. CHFA supported Towaoc Supportive Housing with a $250,000 grant from the CHFA Housing Opportunity Fund.

  • Tammen Hall Apartments celebrated its groundbreaking in Denver. This 49-unit project will serve residents ages 62 years and older and preserves the historic Tammen Hall building. Last year, CHFA supported Tammen Hall by awarding $520,511 in federal LIHTC, $391,667 in state Affordable Housing Tax Credits (AHTC), and issuing $10.6 million in Private Activity Bonds.

  • Roaring Fork Apartments is a 56-unit mixed-income development that recently celebrated its grand opening. The property is the first LIHTC-supported development in the town of Basalt and serves the area’s workers and families. CHFA was proud to support Roaring Fork Apartments by awarding $1,096,625 in federal LIHTC in 2016.

  • Renaissance at Downtown Lofts is a 101-unit transit-oriented PSH development in downtown Denver. The property, which celebrated its grand opening recently, participates in Denver’s Social Impact Bond (SIB) program, which helps close the gap in funding needed to support services for chronically homeless individuals that are considered “super utilizers” of criminal justice and emergency services. CHFA awarded $1.25 million in federal 9 percent LIHTC and $299,561 in federal 4 percent LIHTC in 2015 to support Renaissance at Downtown Lofts.
Pictured: CHFA Tax Credit Officer, Meghen Brown, speaking at Roaring Fork Apartments’ grand opening


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CHFA supports partners

CHFA was proud to sponsor and participate in recent events hosted by local and national partners including:
  • Colorado Department of Local Affairs’ Division of Local Government and Division of Housing’s 2018 Small Communities Housing Workshop, Montrose
  • Colorado Counties, Inc. Foundation Summer Conference, Keystone
  • National Council of State Housing Agencies Housing Credit Connect, Chicago, IL
  • Colorado Municipal League Annual Conference, Vail
  • Denver Housing Authority Homeownership and Economic Empowerment Summit, Denver
  • Latino Chamber and Barrio E’ Colorado Latino Festival, Boulder
  • “Hear It Through the Grapevine” Concert benefitting HomewardBound of the Grand Valley, Palisade
  • Minority and Womens Chamber Coalition 2018 Business Expo, Denver
  • Colorado Mortgage Lenders Association Convention, Vail
Pictured: Colorado Latino Festival


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upcoming events

August 15
Wintergreen Apartments Groundbreaking, Keystone

August 17
Income Averaging Webinar

August 23
Denver Business Journal's Outstanding Women in Business Awards, Denverr

August 26
Neighbor to Neighbor 2018 Polo Championship, Fort Collins

September 9
Denver Housing Authority Wall of Fame Awards, Denver

September 13
EarthLinks, Inc. Imagine 2018, Denver

September 14
Warren Village Taking Flight Gala, Denver

September 15
Latino Community Foundation Statewide Forum, Denver

September 19
Independent Bankers of Colorado 2018 Convention, Vail

September 20
NEWSED Civil Rights Awards, Denver

September 28
Colorado Center on Law and Policy 2018 Pathways from Poverty, Denver

September 29
Arvada Housing Resource Fair, Arvada

October 3-5
Housing Colorado NOW! Annual Conference, Vail


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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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