​​ chfa enews
chfa enews
May/June 2016
In this issue:

chfa announces round one lihtc awards



CHFA is pleased to announce the Low Income Housing Tax Credit (LIHTC) awards for the first allocation round of 2016. In this round, 19 affordable rental housing developments requested $17,760,420 in state LIHTC, competing for the $5 million available.

Additionally, five projects in the flood-impacted Boulder, Larimer, and Weld counties requested Disaster Recovery state LIHTC from CHFA, along with Community Development Block Grant – Disaster Recovery (CDBG-DR) funds from the Colorado Department of Local Affairs-Division of Housing (DOLA-DOH).

A total of 12 developments have been awarded LIHTC, supporting the new construction or preservation of 1,062 affordable rental housing units in Colorado. The following developments have been awarded either state LIHTC from CHFA, or Disaster Recovery state LIHTC from CHFA and CDBG-DR funds from DOLA-DOH in 2016. Full descriptions may be viewed here.

State LIHTC Awards

Alameda View Apartments, Aurora
Developer: Gardner Capital

Arroyo Village, Denver
Developer: Dolores Project and Rocky Mountain Communities

Fifty Eight Hundred, Lakewood
Developer: Metro West Housing Solutions

Lowry Family Housing, Denver
Developer: Volunteers of America and Denver Housing Authority

The Vistas at Panorama Pointe, Westminster
Developer: M.E.M. Westminster Property LLP

Village at Westerly Creek 3, Aurora
Developer: Aurora Housing Authority

Windmill Ranch Apartments, Brighton
Developer: Brighton Housing Authority and MJT Properties, Inc.

Disaster Recovery State LIHTC and CDBG-DR Awards

Palo Park Community, Boulder
Developer: Boulder Housing Partners

Peakview Trails, Greeley
Developer: Four Corners Development, LLC

SPARK_west, Boulder
Developer: Element Properties

Suites Supportive Housing Community, Longmont
Developer: Longmont Housing Authority

Village on Horsetooth, Fort Collins
Developer: Fort Collins Housing Authority

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state lihtc extension bill passes house and senate



We are excited to share that the state LIHTC extension bill (HB-1465), was passed by the Colorado General Assembly during the 2016 session. CHFA would like to express our sincere appreciation to the bill sponsors Majority Leader Crisanta Duran, Rep. Jon Becker, Sen. Jessie Ulibarri, and Sen. John Cooke. These legislative leaders worked tirelessly throughout the legislative session to ensure the state LIHTC program’s extension.

In addition, we would like to acknowledge our numerous coalition partners who supported the passage of this important legislation. We are grateful to all who testified, emailed, called, and lent your support to ensure that this important bill was passed. Extending the state LIHTC program through 2019 is a critical victory for Colorado. Not only will it allow us to continue our work together to provide more affordable housing across the state, but it will support significant economic investment and job creation. Please thank our bill sponsors and all legislators who voted in support of HB-1465.

About HB-1465
HB-1465 extends the state LIHTC program through 2019 and authorizes CHFA to allocate $5 million in state LIHTC annually in 2017, 2018, and 2019. Without passage of HB-1465, the state LIHTC program would have sunset at the end of this calendar year.

Renderings pictured above: Broadway Station Lofts in Englewood, courtesy of RNL Design; Northfield at Stapleton Apartments in Denver, courtesy of Northeast Denver Housing Center and Cuningham Group Architecture, Inc.; Kestrel in Louisville, courtesy of Boulder County Housing Authority and Wenk Associates, Inc.; and Oakridge Senior Apartments in Fort Collins, courtesy of David Nakhjovani and Gus Robbato/Lewis Himes & Associates.

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colorado celebrates pathways to housing

pathways to housingOn May 19, CHFA Executive Director and CEO, Cris White, served as the emcee of Gov. John Hickenlooper’s event celebrating Colorado’s progress in reducing veteran homelessness. The event, which was held at the Governor’s Mansion, gathered more than 150 people, including Denver Mayor Michael Hancock, who are working to help homeless individuals and families secure affordable housing and live healthy and productive lives.

Last year, CHFA celebrated its support for the most Permanent Supportive Housing units in a single year in the organization’s history.

Pictured at right: Cris White


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charles k. knight named chfa’s new general counsel

charles k. knightCharles K. Knight has been named CHFA’s new general counsel. Knight joins CHFA as a leader in law, finance, and entrepreneurship. He has been a licensed attorney for 34 years. Knight served on CHFA’s Board of Directors from 2011 to 2015.

”It is an honor and a privilege to join the CHFA team as General Counsel at this exciting and challenging time. I have admired and respected CHFA’s work in affordable housing and community development since I moved to Colorado almost 20 years ago. I look forward to continuing this work so that everyone in Colorado has the opportunity for housing stability and economic prosperity.”

Knight succeeds the recently retired, Charles Borgman, who had served as CHFA’s general counsel since 2004.

Read the news release to learn more.

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chfa helps more homebuyers with new freddie mac® programs



On May 19, CHFA announced that it has added Freddie Mac options to its suite of home mortgage loan products. CHFA invests in loans to low and moderate income homebuyers through its network of more than 100 participating lenders, and this change creates the potential to expand the availability of CHFA products across Colorado.

“Everyone in Colorado should have the opportunity for housing stability. By partnering with Freddie Mac, we expect to reach many more Coloradans and ultimately help them achieve their dreams of affordable homeownership,” said Cris White, CHFA Executive Director and CEO.

Freddie Mac options are now available through CHFA’s purchase and refinance home loan programs, which include down payment and/or closing cost assistance. CHFA loans are offered with 30-year terms and competitive fixed rate financing.

​For more information, visit www.chfainfo.com/homeownership.​

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cut the ribbon: affordable housing projects open doors



Sol Naciente, a 50-unit affordable housing development for agricultural workers and their families in the Fort Morgan area celebrated its grand opening on May 12. The development is the first of its kind in Fort Morgan, designed for large families to meet housing needs of the area’s large farm labor population. CHFA awarded $882,402 in Low Income Housing Tax Credits (LIHTC) to support the development. Read the news release to learn more.

A ribbon cutting ceremony was held on May 17 to celebrate Town Center North Apartments. This 50-unit affordable rental housing development serves seniors in Wheat Ridge. CHFA awarded $965,327 in LIHTC to support the development.

Pictured above: Sol Naciente ribbon cutting ceremony

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breaking ground: new developments begin construction

jaime gomezSeveral affordable rental housing developments supported by CHFA recently broke ground, including:
  • Guadalupe Apartments, Greeley
  • Sanderson Apartments, Denver
  • Brighton Village Phase II, Brighton
  • 40 West Residences, Lakewood
  • The Foundry Apartments, Englewood
  • The Reserves at Steamboat Springs, Steamboat Springs
Pictured at right: CHFA COO, Jaime Gomez, speaking at The Foundry Apartments groundbreaking ceremony

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chfa supports partners around the state



CHFA is proud to sponsor and participate in several events hosted by our partners around the state, including:
  • Colorado National Association of Housing and Redevelopment Officials (NAHRO) Annual Maintenance and Management Conference
  • Habitat for Humanity of Colorado’s Camp Colorado
  • Colorado Association of Realtors® Spring Conference
  • NEWSED Cinco de Mayo Denver
  • Growing Partners of Southwest Colorado Homegrown Food Retreat
  • Metro Denver Fair Housing Center Awards Gala
  • Habitat for Humanity of Metro Denver Humanity Breakfast
  • Colorado Counties Inc.
  • Colorado Municipal League

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register for housing forum colorado



CHFA’s annual Housing Forum Colorado event series begins soon. Housing Forum Colorado invites mortgage professionals to this educational event to hear about the latest news and products from some of the agencies making homeownership possible in Colorado. Participants will engage in round table discussions with agency trainers, and learn how CHFA, FHA, RD, VA, and regional down payment assistance partners can help them attract and support new clients.

Visit CHFA’s website to register for an event happening near you:

June 9: Glenwood Springs
June 14: Colorado Springs
June 16: Denver
July 6: Fort Collins
July 14: Steamboat Springs

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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


chfa  ​​​