In this issue:
new records set by chfa in 2015
2015 was a year of precedents at CHFA. In all
areas of CHFA business, records were broken and
goals were exceeded.
CHFA has set a new all-time home mortgage loan
production record, which was previously set in
2007 at $485 million in home mortgage loans. As
of December 15th, CHFA purchased $719.2 million
in home mortgage loans in 2015, supporting 4,085 Coloradans in their dreams of affordable homeownership.
Major contributors to setting this new benchmark included the new CHFA Down Payment Assistance Grant and
CHFA’s expanded outreach to promote our home finance programs. Additionally, CHFA-sponsored homebuyer
education classes achieved record participation with
8,546 households served so far in 2015, breaking the
previous record set back in 2009.
As the need for affordable rental housing became increasingly severe in 2015, the Low Income Housing Tax Credit
(LIHTC) enabled CHFA to support the preservation or new construction of 3,871 affordable rental housing units,
including 1,902 units made possible with the new
State LIHTC. These also included
permanent supportive housing units for homeless households—the most supported by CHFA in any single year of our 41-year history.
Our business finance programs served 398 businesses so far in 2015, which have supported
4,819 jobs. We surpassed our business
finance production goal by $8 million, bringing 2015 business loan production to $33.1 million as of December 15th.
As the year comes to a close, we’d like to take this opportunity to thank all of our partners who helped us reach these
like it forward: chfa gives back with the help of facebook friends
CHFA’s “Like It Forward” Facebook campaign benefitting two local nonprofits recently concluded. For each “like” our Facebook page received from November 18th through December 18th, CHFA purchased one Soup and Cornbread Gift Bundle from Women’s Bean Project, and donated it to Food Bank of the Rockies.
As a result, 234 food bundles were donated to Food Bank of the Rockies. The organization serves the Denver metro area and northern Colorado by providing food for more than 411,000 people annually.
Women’s Bean Project helps women break the cycle of poverty and unemployment by teaching them practical job and life skills through a gourmet food production business. In 2006, the organization became a CHFA customer with a CHFA Nonprofit Loan.
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cdfa honors chfa at annual summit
The Council of Development Finance Agencies (CDFA) recently announced CHFA as the winner of its 2015 CDFA Distinguished Development Finance State Agency Award. On November 5th, members of CHFA’s Community Development Division accepted the award at the 2015 CDFA National Development Finance Summit.
Click here to read CDFA’s news release about CHFA.
Pictured on right (left to right): CHFA Senior Commercial Lender, Wyatt Jones; CHFA Community Development Lending Manager, Masouda Omar; CHFA Community Development Director, Steve Johnson; CDFA Executive Director, Toby Rittner; CHFA Senior Commercial Lender, Tim Dolan.
cut the ribbon: grand openings around the state
On December 11th, CityScape at Belmar celebrated its grand opening. It is a new 130-unit affordable rental housing development serving seniors in Lakewood. CHFA was proud to support this project by awarding it $1.25 million in Low Income Housing Tax Credits (LIHTC) in 2013.
The Edge, an affordable rental housing community in Loveland, celebrated its groundbreaking on November 19th. The Edge is the first state LIHTC-supported project to break ground. This development will provide 70 units of affordable rental housing, with priority given to households affected by the 2013 floods, or the 2012 High Park Fire. Additionally, 10 of its 70 units will provide permanent supportive housing to formerly homeless veterans. This year CHFA allocated The Edge $889,234 in state LIHTC, and $578,807 in federal LIHTC.
Pictured above: CityScape at Belmar
chfa salutes veterans
Last month, in honor of Veterans Day, CHFA called attention to the commitment of our veterans, and the need for
affordable housing serving this population. The following is an excerpt from a message that was included in a
CHFA News email, and on our social media channels:
On this day, CHFA would like to salute our nation’s veterans and recognize them for their service to our country.
The commitment our veterans have shown through their military service has been critical to upholding the everyday
freedoms we hold dear. Unfortunately, too many veterans don’t have an affordable place to call home. In fact,
more than 7 percent of Colorado’s homeless are veterans.
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