chfa monthly impact report
April Report: Data from January 1 to March 31, 2022
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.
CHFA
Homeownership
Rental Housing
Business Lending
Community Partnerships
homeownership
1,862
Total homeowners served with loans
2021 production by race and ethnicity
$632,874,691
First Mortgage Loans
$574,956
Down Payment
Assistance Grants
$24,049,541
Down Payment
Assistance Seconds
1,379
Homebuyer Education
Customers Served
Customers
$341,828
Median Loan Amount
681
Median Credit Score
$72,000
Median Income
94%
Median AMI
90%
First-time Homebuyers
rental housing
1,080
Units supported with loans, PAB, or Housing Tax Credits
capital magnet fund used to support affordable housing in trinidad
CHFA closed on a $715,000 loan and $35,000 grant from the Capital Magnet Fund, administered by CHFA, to support Trinidad Artspace Lofts. This provides permanent financing for the 41-unit development, which serves families and local artists. The development involved the adaptive reuse of two historic buildings that house 13 of the units and gallery space for residents with working space to be completed later. CHFA also awarded federal 9 percent Housing Tax Credits in 2017 to support the development.
10
Total Developments Supported
$106,224,723
Total Loan Production
$5,400,000
Multifamily Loan Commitments
Customers
870
Family Housing Units
0
Homeless Housing Units
210
Senior Housing Units
0
Special Needs Units
270
Veteran Units
101
Rural Housing Units
0
Preservation Units
business lending
144
Total businesses served
ccs+ supports habitat for humanity of pueblo
CHFA’s Cash Collateral Support Plus (CCS+) program was used to leverage $235,000 in private sector financing to support Habitat for Humanity of Pueblo (HFHP). HFHP provides affordable housing for families with low income who cannot purchase a home using conventional methods or government-assisted programs.
The funds are being used to support the construction of a single family home on land owned by HFHP. The home is expected to be completed in the next six to nine months. Funds for CCS+ are sourced from CHFA’s Housing Opportunity Fund.
757
Total Jobs Impacted
$11,847,879
Dollars Invested
Customers
40%
Women-owned
31%
Minority-owned
15%
Women- and
Minority-owned
$50,632
Median Loan Amount
community partnerships
124
Organizations supported
investments support youth entrepreneurship
To help advance work-based learning and entrepreneurship for students in CHFA’s regional community investment areas of Pueblo and Montezuma County, CHFA recently invested in two programs:
CHFA invested $30,000 to support the Homegrown Talent Initiative (HTI) in Montezuma County. Funds will support local industry, business, and institutions to provide work-based learning opportunities for local students such as apprenticeships, internships, job shadowing, part-time work study, and mentoring. CHFA Southwest Colorado Community Relationship Manager Chris Lopez, serves on the HTI Core Community Team.
CHFA invested $5,000 to sponsor the Southern Colorado Entrepreneurship Competition, held April 8-9. The event invites individuals or teams to pitch their business plan to be incorporated within the Pueblo community. It is the largest competition for entrepreneurs in the region and includes a student and adult division. CHFA Southern Colorado Community Relationship Manager, Caroline Trani, served as a judge in the student competition.
$1,772,193
Total Giving
$773,240
Corporate Giving
(direct and in-kind)
$250,000
Housing Solution Grants
$671,000
Regional Community
Investment Grants
$5,227
Staff Donation Drives
and Giving and Match
$72,726
Technical Assistance
102
Staff Community
Involvement Leave and Day
of Service Hours
248
Technical Assistance Hours
spotlight
boulder county housing
Continuing in its support for Marshall Fire Recovery efforts, CHFA established a two-year commitment to provide $25,000 each year (2022 and 2023) to Boulder County Housing and Human Services. These funds will assist the county in hiring additional housing counseling staff to support Marshall Fire recovery efforts. The fire occurred in December 2021 and destroyed more than 1,000 homes in Boulder County.
latin american education foundation
The Latin American Educational Foundation (LAEF) held its annual gala on March 26th in Denver. LAEF focuses on providing Hispanic and Latino students access to higher education. In its 73-year history, LAEF has awarded over $7 million in scholarships to over 7,000 students. CHFA was a proud sponsor of the gala.
reimagining housing solutions
The Colorado Health Foundation began its Reimagining Housing Solutions virtual training series on March 4th. Sessions are held on the first Friday of each month through August and are designed to equip Colorado's local leaders to address the housing crisis. Participants will learn about solutions to address their community’s urgent housing needs. CHFA is a proud sponsor.