chfa monthly impact report
November Report: Data from January 1 to October 31, 2024
CHFA strengthens Colorado by investing in affordable housing and community development. CHFA’s work supports communities and creates jobs. We are proud to invest in Colorado’s success.
This monthly report provides a year-to-date snapshot of CHFA’s investments to support affordable housing and community development throughout Colorado, along with related narratives and analyses.
Please click here for a printable PDF version of this month’s report.
CHFA
Homeownership
Rental Housing
Business Lending
Community Partnerships
homeownership
HUD Grant Funds Housing Counseling
CHFA was recently awarded a $544,016 grant from the U.S. Department of Housing and Urban Development (HUD) Comprehensive Housing Counseling Grant Program for Fiscal Year 2024. Funds will support 11 subgrantees throughout Colorado as they continue their vital housing counseling efforts. This grant is in addition to $464,414 awarded earlier this year as part of HUD’s Fiscal Year 2023 funding round.
Housing counseling offered through the Comprehensive Housing Counseling Grant Program supports a range of needs, from counseling first-time homebuyers, promoting financial literacy, preventing foreclosure and eviction, providing resource connection services for unhoused individuals, and offering assistance for older adults. In the 2023-2024 fiscal year, more than 8,000 housing counseling activities were provided through the program statewide.
Customers
rental housing
CHFA Awarded Capital Magnet Funds
The U.S. Department of the Treasury awarded CHFA a $4.5 million Capital Magnet Fund (CMF) grant to support the preservation and construction of affordable multifamily rental housing in Colorado. CMF grants are competitively awarded to qualified nonprofit housing organizations and Community Development Finance Institutions (CDFIs), and this is the sixth time that CHFA has been awarded a CMF grant since 2017.
To date, CHFA has deployed $38.1 million in prior CMF awards to 46 developments throughout Colorado, supporting more than 3,000 affordable apartments. More than half of the units supported by CHFA’s CMF program are for households with incomes at or below 50 percent of Area Median Income (AMI). In addition, preference is given to housing located in rural areas and/or areas of economic distress as defined by the U.S. Department of the Treasury CDFI Fund.
Customers
business lending
Industrial Bonds Support Waste Transfer Facility
CHFA recently issued $13 million in Industrial Development Bonds to NOCO Disposal Services to finance the construction of a new waste transfer station in Greeley that will serve the surrounding area. The bond issuance included $10 million in tax-exempt bonds and $3 million in taxable bonds.
The facility will operate as a collection site where local trucks deliver waste to be compacted before it is sent to a final site for disposal. Waste transfer stations are designed to make solid waste collection more efficient while reducing transportation costs, air emissions, energy use, truck traffic, and wear and tear on infrastructure. This will be an important asset to communities in and around Greeley, as the nearest landfill location is 30 to 50 minutes away.
Customers
community partnerships
Small-scale Housing Technical Assistance Selections Announced
CHFA’s Small-scale Housing Technical Assistance (SHIP-TA) program helps catalyze small-scale affordable housing developments of 25 units or fewer by providing access to an affordable housing consultant and pre-development grant assistance. In the latest round, the second of two held this year, 10 organizations were selected by CHFA to receive free technical assistance:
· AmericaWest Housing Solutions (Cripple Creek)
· Bennet School District (Bennet)
· Byers School District (Byers)
· City of Yuma (Yuma)
· Mancos Valley Properties (Mancos)
· Melissa Memorial Hospital (Holyoke)
· Monte Vista Urban Renewal Authority (Monte Vista)
· Town of Del Norte (Del Norte)
· Town of Hayden (Hayden)
· Town of Westcliffe (Westcliffe)
spotlight
Housing Colorado Conference
CHFA was the title sponsor of the Housing Colorado annual conference, which was held in Keystone from October 9th to 11th. Each year, the event brings together professionals, policymakers, and advocates to share ideas and collaborate on solutions for affordable housing. In total, 10 CHFAians presented in various sessions and presentations throughout the conference on a range of affordable housing topics. CHFA was also pleased to provide 12 scholarships to support opportunities for community members across Colorado to attend the event.
EDCC Conference
CHFA attended and served as title sponsor of the Economic Development Council of Colorado (EDCC) Drive | Lead | Succeed Conference, held October 13th to 16th in Beaver Creek. The annual event convenes industry professionals and thought leaders from the public and private sectors to exchange insights and tackle challenges in economic development. Seven CHFAians attended the conference, and CHFA Business Finance Manager Steve Boice delivered
remarks at the event.
CHFA Hosts PBCA Regional Summit
From October 21st to 23rd, CHFA hosted the Project Based Contract Administrators (PBCA) Regional Summit in Golden. The event served as an opportunity for regional Project Based Contract Administrators to come together to discuss the HUD PBCA program, including processes, guidance, issues and concerns, and training. It was a forum for engagement to increase communication, collaboration, standardization, and knowledge sharing.
Photos:
Hero: Bernadette Cuthair, Director of Planning and Development, Ute Mountain Ute Tribe, Towaoc
Spotlight, left: Housing Colorado Conference, Keystone
Spotlight, center: EDCC Conference, Beaver Creek