chfa monthly impact report
August Report: Data from January 1 to July 31, 2021
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 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. The report is updated monthly.
CHFA
Homeownership
Rental Housing
Business Lending
Community Partnerships
homeownership
4,807
Total homeowners served with loans
chfa homeownership by race and ethnicity
$1,487,373,395
First Mortgage Loans
$1,178,641
Down Payment
Assistance Grants
$56,525,121
Down Payment
Assistance Seconds
3,993*
Homebuyer Education
Customers Served
*As of June 30, 2021
Customers
$314,198
Median Loan Amount
677
Median Credit Score
$67,997
Median Income
97%
Median AMI
91%
First-time Homebuyers
rental housing
3,369
Units supported with loans, PAB, or Housing Tax Credits
chfa supports covid eviction defense fund
CHFA recently supported The Community Firm’s COVID-19 Eviction Defense Project (CEDP) with a $2 million Housing Opportunity Fund (HOF) loan. These funds will allow the CEDP to begin rental assistance payments to landlords while on-boarding as an Emergency Rental Assistance Program (ERAP) vendor with the State of Colorado, administered through DOH.
The CEDP was formed in April 2020 with a mission to stabilize housing by assisting Coloradans facing eviction. The funds will help CEDP meet a critical need for housing stabilization in the state while awaiting reimbursement from the state once they become an approved ERAP vendor.
This loan will provide CHFA the opportunity to support eviction prevention in a direct way and is expected to assist our multifamily housing partners.
37
Total Developments Supported
$72,172,132
Total Loan Production
$33,000,000
Multifamily Loan Commitments
Customers
2,537
Family Housing Units
144
Homeless Housing Units
603
Senior Housing Units
60
Special Needs Units
25
Veteran Units
501
Rural Housing Units
264
Preservation Units
business lending
340
Total businesses served
cash collateral support paves path for lumber company’s future
Hylton Lumber Company has been in Salida for more than 50 years, originally as a cabinet shop, which grew to also offer retail lumber and hardware. The company is being sold and its new owners are using the Cash Collateral Support (CCS) program, administered by CHFA, to leverage $2.7 million in private financing to purchase the company and its real estate. Located in downtown Salida, the company’s building includes a retail hardware store, lumber storage warehouse, woodworking warehouse, metal shop, and storage building.
Under new ownership, the company will be called Salida Lumber Yard, LLC, and the owners intend the grow its cabinet production operations and hire more employees. The company is crucial to the local economy, serving as a major supplier of lumber materials for Chaffee County and the surrounding area. The business currently supports 15 full-time jobs.
1,699
Total Jobs Impacted
$57,623,024
Dollars Invested
Customers
34%
Women-owned
28%
Minority-owned
9%
Women- and
Minority-owned
$89,616
Median Loan Amount
community partnerships
82
Organizations supported
replica churches restored for float showcase at 170-year-old festival
Churches are the heart of Costilla County’s towns and villages. Each church has a dollhouse replica displayed outside, which are transported each year to be featured on floats at the Fiesta de Santiago y Santa Ana Parade and Festival. This event attracted more than 3,000 attendees and 45 vendors in 2021, drawing tourist and economic activity for the community.
Over the years, the church replicas showcased at the festival had weathered and needed repairs. CHFA was proud to donate $4,500 to the Town of San Luis to distribute to local churches for the purpose of restoring each of the nine replicas and their shelters. One of the San Luis Valley’s goals is to support small communities that have not experienced investment. This contribution gave CHFA the opportunity to invest in a way that is meaningful to residents while strengthening community partnerships and supporting local priorities.
$871,235
Total Giving
$574,960
Corporate Giving
(direct and in-kind)
$40,000
Housing Solution Grants
$252,768
Regional Community
Investment Grants
$3,507
Staff Donation Drives
and Giving and Match
279
Staff Community Involvement Leave and Day of Service Hours
spotlight
chfa supports nonprofit events
In July, CHFA sponsored and participated in many events benefitting Colorado nonprofits, including:
Denver Public Schools Foundation Back to School Bash
This event supported the organization’s work to raise and manage funds, make strategic program investments, and serve as community leaders so that all DPS students have the opportunity to succeed.
Archuleta Housing Corporation 50th Anniversary Celebration
This event supported the nonprofit in their mission to provide safe, affordable housing in Archuleta County and CHFA’s donation covered ticket costs for every resident at AHC properties and their families to attend the celebration.
CASA (Court Appointed Special Advocates) of Pueblo “Over the Edge”
This event was an urban adventure fundraiser held to raise $100,000 to support advocacy for neglected and abused children and ensure each child has the opportunity to thrive in a safe, permanent home.
affordable rental housing developments celebrate progress
In July, two affordable rental housing developments supported by CHFA celebrated milestones:
Alta Verde in Breckenridge broke ground.
Peak View Apartments in Estes Park hosted a grand opening.
Alta Verde will provide affordable rental housing for individuals and families in Breckenridge. The development will offer 64 units supported with Housing Tax Credits awarded by CHFA in 2020, as well as an additional 16 units that will be restricted to those with incomes at 100 percent of the Area Median Income (non-tax-credit units).
Peak View Apartments provides 26 units of rental housing for Estes Park’s workforce. The property will serve residents with household incomes at 80 to 120 percent of the Area Median Income. CHFA was proud to support Peak View Apartments with a $1.05 million construction-to-permanent HOF loan.
chfa participates in golf tournament fundraisers
CHFA was proud to sponsor and participate in golf event fundraisers supporting two Colorado nonprofits in July:
2021 Arrupe Jesuit Golf Invitational, Sedalia
Arrupe Jesuit is a co-educational, college preparatory school serving economically disadvantaged students living in Denver’s underserved neighborhoods.
Catholic Charities Golf Tournament Benefitting Families, Pueblo
The mission of Catholic Charities of the Diocese of Pueblo is to fight poverty using a two-generation approach in order to strengthen families and help them achieve self-sufficiency. The organization serves 29 counties in southern Colorado.