In this issue:
chfa divisions exceed annual production goals
CHFA is pleased to announce that we have met and exceeded our 2015 home finance, business finance, and multifamily production goals. Each year, CHFA establishes several goals to ensure we are fulfilling our mission.
As of September 30, CHFA’s Home Finance Division has helped 3,148 Coloradans achieve homeownership with $543 million in home mortgage loan production, exceeding its 2015 production goal of $457 million. Additionally, $10.7 million has been granted as a result of the CHFA Down Payment Assistance Grantsm. CHFA’s home finance efforts thus far this year supports 4,538 jobs, and $794 million in direct and related economic activity.
Also, CHFA’s Community Development Division reached $28 million in business loan production, exceeding its 2015 goal of $25 million. This investment translates to 297 businesses served, and 3,856 jobs supported.
Community Development also reached $91 million in multifamily production activity, exceeding its annual production goal of $75 million in loans and conduit issuances. This production is helping to create or preserve 1,009 total affordable rental housing units across Colorado.
gov. hickenlooper commends increase in permanent supportive housing
Gov. John Hickenlooper recently praised efforts made by CHFA and the Colorado Department of Local Affairs (DOLA) to increase Permanent Supportive Housing (PSH) units for homeless and other vulnerable populations. CHFA awarded $5.3 million in Low Income Housing Tax Credits (LIHTC) to support PSH projects in Denver, Greeley, and Lakewood, creating 282 units of affordable housing for individuals and families experiencing homelessness or with severe special needs. This represents the most PSH units supported with tax credits during any single year in CHFA’s 41-year history.
“Combining affordable housing with access to support services like case management, employment training, and mental health treatment, these projects will strengthen Colorado’s overall continuum of homeless services and give residents the opportunity to live stable, autonomous, and dignified lives,” Hickenlooper said.
here to read more.
Pictured above (courtesy Chris Carvell Architects): Rendering of Renaissance Downtown Lofts, a permanent supportive housing development awarded Low Income Housing Tax Credits by CHFA
co4f awardees celebrate success
Two grocers who have received support from the Colorado Fresh Food Financing Fund (CO4F), a business finance program administered by CHFA, have recently celebrated progress made.
On October 3rd, Farmers Fresh Market held its grand opening in Ignacio. This newly constructed, full-service grocery store is the first CO4F supported project in western Colorado. CHFA awarded a $408,000 loan to Farmers Fresh Market, which also received financing from Vectra Bank of Colorado’s Durango office. Ignacio had gone without a grocery store for more than a year before Farmers Fresh Market was completed. Click
here to learn more about Farmers Fresh Market.
Limon Stop & Shop Supermarket hosted an open house on August 29th to showcase its new freezer units. The freezer upgrades were supported with a $100,000 CO4F grant. In 2014, the store was in poor condition and nearly closed before the current owners purchased it, preserving fresh food access for the Limon community. Click
here to learn more about Limon Stop & Shop.
Pictured above: Farmers Fresh Market grand opening
cut the ribbon: grand openings around the state
Lumien Apartments celebrated its grand opening on October 1st in Durango. Lumien Apartments is a 50-unit affordable rental housing development serving families. The project was awarded $857,427 in Low Income Housing Tax Credits (LIHTC) by CHFA in 2013. This development is one of 12 LIHTC-supported projects in La Plata County, and the first since 2008. CHFA also supports the project as the permanent lender.
On September 11th, Chinook Wind Apartments celebrated its grand opening in Greeley. Chinook Wind Apartments is a 60-unit service-enriched affordable rental housing development serving seniors. The development provides wheelchair accessible apartments, and offers residents information and referral services, transportation, meal programs, and other assistance that fosters independent living for residents. CHFA awarded Chinook Wind $931,584 in LIHTC in 2013. CHFA is also the permanent lender for the project. Click
here to learn more about Chinook Wind Apartments.
Pictured above: Lumien Apartments
new chfa enewsletter launched for prospective homebuyers
CHFA recently launched
Your Road Home, a monthly eNewsletter for prospective homebuyers. It contains tips and resources on becoming a confident, empowered, and successful homeowner. If you haven’t already subscribed, we invite to do so by clicking
chfa’s #grantyourself facebook contest concludes
Congratulations to Jaclyn P. from Wheat Ridge, Colorado! She has been selected as the August winner of CHFA's grantyourselfsm Facebook contest. Jaclyn submitted the photo to the right showing the freedom she is granting herself with homeownership. Her photo caption read: “Being able to foster dogs that need a temporary home until they find the right family!” She has chosen to receive a $500 gift card to Target as her contest prize.
CHFA’s #grantyourself Facebook contest was held during June, July, and August. The contest invited Coloradans to post photos and descriptions of what they would grant themselves as homeowners. One winner was randomly chosen from each month’s entries. The contest helped promote
CHFA’s Down Payment Assistance Grant.
Want to know more about CHFA? Visit