​​ chfa enews
chfa enews
March/April 2016
In this issue:

chfa programs helping coloradans buy and refinance



While buying a home seems tough in Colorado’s market, the dream is possible as evident by those using the CHFA Down Payment Assistance Grant (DPA Grant). So far in 2016, 665 homebuyers have taken advantage of the CHFA DPA Grant, which provides up to 3 percent of a CHFA first mortgage loan to help cover some of a borrower’s down payment and/or closing costs.

CHFA is also helping homeowners save money by refinancing. The CHFA Preferred Refinance program includes a competitive, 30-year fixed rate mortgage and below-market costs for private mortgage insurance. CHFA Preferred Refinance is a new program that launched in February.

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save the date: 2016 david w. herlinger golf tournament



Save the date for CHFA’s 2016 David W. Herlinger Golf Tournament. This year’s beneficiary is Volunteers of America Colorado Chapter. The tournament will be held on Tuesday, July 12th, at the beautiful Fossil Trace Golf Course in Golden, Colorado.

In addition to 18 challenging holes of golf, there will be many other exciting opportunities to participate in the event regardless of your skill level.

More information is coming soon. We hope to see you there!

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chfa receives round one lihtc applications



CHFA has received Round One Low Income Housing Tax Credit (LIHTC) applications. A total of 26 applications were received, seeking $42,826,897 in federal 4 percent LIHTC, combined with either state LIHTC and/or CDBG-DR funds.

The majority of applicants are requesting LIHTC for affordable rental housing developments serving families (2,088 units), followed by seniors (672 units), and communities recovering from the 2013 floods (513 units). Applications were also received for preservation projects, and developments serving special needs households, as well as rural communities. Round One awards are expected to be announced in May.

Pictured above: LIHTC customer, Lumien Apartments in Durango


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co4f partners with denver on “healthy food challenge”



The Denver Office of Economic Development announced the launch of its “Healthy Food Challenge” in the Globeville and Elyria-Swansea neighborhoods. The initiative will award grant funding and refer applicants to loan finance opportunities to support projects that address healthy food issues in Globeville and Elyria-Swansea.

The Colorado Fresh Food Financing Fund (CO4F), administered by CHFA, has set aside up to $500,000 in loan financing and $50,000 in grant funding for potential CO4F-eligible projects that reply to the Healthy Food Challenge Request for Proposals. Standard requirements of the CO4F application process will apply to any applicants referred to CO4F by OED. CHFA is excited for this collaboration with Denver OED, as they have been great partners in our efforts to bring healthy food retail to underserved areas of Denver.

To learn more, read OED’s news release.

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westwood crossing breaks ground



A ground breaking ceremony was held in March at the future site of Westwood Crossing, a development that will provide 98 affordable rental housing units for families, and 5,000 square feet of commercial space.

Westwood Crossing is one of the first projects funded through Denver’s new Revolving Affordable Housing Loan Fund, (RAHLF) administered by CHFA. The project was also awarded $791,384 in federal 4 percent Low Income Housing Tax Credits (LIHTC) from CHFA.

“CHFA is proud to have been selected by the City and County of Denver as the administrator of the new revolving fund, without which Westwood Crossing may not have become a reality. This resource helps to close the gap on the costs of building affordable housing developments and helps leverage the 4 percent federal Low Income Housing Tax Credit, which brings much needed private sector investment into Denver’s housing needs,” said Tasha Weaver, CHFA's Tax Credit Manager who spoke at the event.

Read the news release to learn more.

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renaissance at north colorado station celebrates grand opening



Renaissance at North Colorado Station recently celebrated its grand opening. This 103-unit affordable rental permanent supportive homeless housing development was supported by CHFA with $1,250,000 in 9 percent federal Low Income Housing Tax Credits (LIHTC), $140,879 in 4 percent federal LIHTC, a private activity bond issuance, and permanent financing.

Governor John Hickenlooper, who was among the event’s speakers, said, “A big part of this is also about how we finance these things. The Division of Housing and the Colorado Housing and Finance Authority are key. If Cris White is here, if you see him, clutch him, hold him to your breast. Under his leadership, the Colorado Housing and Finance Authority helped finance the development of 282 permanent supportive housing units in one year, the highest number in the state’s history.”

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chfa issues 2015 community report



CHFA’s 2015 Community Report “Changing Landscapes” is now available to view on our website. The report tells the story of change across Colorado and CHFA’s role in furthering our mission of strengthening Colorado by investing in affordable housing and community development. Highlights include:
  • 4,223 customers served with home mortgage loans or mortgage credit certificates
  • 9,048 households supported with CHFA-sponsored homebuyer education classes
  • 4,972 units supported with multifamily loans and/or low income housing tax credits
  • 4,829 jobs impacted by CHFA’s business finance programs
  • $191,886 contributed to nonprofits through sponsorships, fundraising, and direct donations

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chfa supports partners around the state



CHFA is proud to support our partners around the state through event sponsorship and participation. Upcoming and recent events include:
  • CMLA Rocky Mountain Mortgage Lenders Expo, April 13th
    The expo is the region’s largest mortgage lending conference and features educational programming and networking events for industry professionals. CHFA will be an exhibitor and CHFA Business Development Specialist, Shelley Ervin, will be speaking about emerging trends in Colorado’s housing market.

  • Western Slope Realtors Rally, April 13th
    The Grand Junction Area Realtor Association is hosting this rally, offering education, networking, and 55 exhibitors. CHFA will be an exhibitor.

  • CLUB 20 Spring Conference, April 1st -2nd
    CHFA sponsored this two-day event highlighting policy matters and issues of importance to Colorado's Western Slope.

  • Progressive 15 Housing Expo, March 9th
    CHFA was a presenting sponsor of the event that convened more than 50 attendees from northeastern Colorado to discuss local housing needs and best practices.


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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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