chfa monthly impact report
February Report: Data from January 1-31, 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
757
Total homeowners served with loans
2021 investment by metropolitan statistical area (msa)
$257,332,190
First Mortgage Loans
$228,678
Down Payment
Assistance Grants
$9,691,920
Down Payment
Assistance Seconds
773
Homebuyer Education
Customers Served
Customers
$338,751
Median Loan Amount
681
Median Credit Score
$70,510
Median Income
92%
Median AMI
90%
First-time Homebuyers
rental housing
60
Units supported with loans, PAB, or Housing Tax Credits
chfa supports affordable housing development in grand junction
CHFA recently closed on a $725,000 Housing Opportunity Fund (HOF) loan, providing subordinate permanent financing to support 2814, an affordable rental housing development in Grand Junction.
The 60-unit development is designed for inclusivity, which will serve a diverse group of households such as those with mobility challenges, single parents with children, and seniors. The location is ideal with public transportation available on the south side of the site, proximity to grocery shopping, medical, recreation, and services. In 2019, CHFA awarded federal 9 percent Housing Tax Credits to support 2814.
1
Total Developments Supported
$725,000
Total Loan Production
$0
Multifamily Loan Commitments
Customers
60
Family Housing Units
0
Homeless Housing Units
0
Senior Housing Units
0
Special Needs Units
0
Veteran Units
0
Rural Housing Units
0
Preservation Units
business lending
50
Total businesses served
rural tech company develops new software with support from ccr
Based in Hesperus, Eclipse DOT, Inc. (Eclipse) provides technical services and training to businesses that must maintain compliance with U.S. Department of Transportation (DOT) guidelines. Eclipse used the Cash Collateral Support (CCS) program, administered by CHFA, to access $125,000 in private-sector financing to support costs associated with the final phases of its new software development.
The software will support and enhance the company’s service offerings, which include vehicle maintenance file audits, DOT guideline compliance checks, driver record audits, driver qualification audits, new-hire application services, and training services. Eclipse currently supports five full-time jobs and expects to hire an additional five employees in the next five years.
273
Total Jobs Impacted
$5,223,691
Dollars Invested
Customers
34%
Women-owned
22%
Minority-owned
10%
Women- and
Minority-owned
$47,488
Median Loan Amount
community partnerships
23
Organizations supported
chfa supports those affected by boulder county fires
In response to the devastating fires that occurred in Boulder County on December 30th, CHFA made an initial $25,000 donation to the Community Foundation of Boulder County and raised an additional $34,000+ in funds from community partners, unlocking a $25,000 incentive match from CHFA’s doubling our initial contribution. Together, more than $84,000 was donated to the Foundation.
In addition to the Community Foundation of Boulder County, CHFA has supported the following other organizations who are providing relief to those impacted by the fire:
Sister Carmen Community Center – $25,000
Thistle Communities – $25,000
A Precious Child – $7,500
Colorado Association of Realtors Foundation – $1,000
$460,450
Total Giving
$136,500
Corporate Giving
(direct and in-kind)
$250,000
Housing Solution Grants
$52,000
Regional Community
Investment Grants
$4,342
Staff Donation Drives
and Giving and Match
$17,608
Technical Assistance
40
Staff Community
Involvement Leave and Day
of Service Hours
123
Technical Assistance Hours
spotlight
martin luther king, jr. business awards
CHFA was proud to sponsor the 37th Annual Martin Luther King, Jr. Business Awards on January 14th. Each year, awards are presented to individuals, corporations, and nonprofit organizations for their exceptional community service endeavors in honor and memory of Dr. King. Proceeds from this year’s event were donated to Denver Kids, Inc., who will select and award Martin Luther King, Jr. Scholarships to students in need.
affordable housing developments reach milestones
On January 27th, Flats at Ford Street celebrated its grand opening in Golden. This 44-unit development serves individuals and families with low incomes. CHFA supported the development by awarding federal 9 percent Housing Tax Credits in 2019. On January 21st, Charity’s House Apartments broke ground in Denver. This 36-unit development will serve individuals who are homeless, or at risk of homelessness, have a disability and/or behavioral health condition, and/or have been involved in the criminal justice system. CHFA supported the development by awarding federal 4 percent Housing Tax Credits in 2020 and issuing $7.1 million in Private Activity Bonds.
rural voices of colorado
Community leaders from across the state gathered at the Denver Metro Chamber of Commerce offices January 20-21 to meet with policy leaders at the Rural Voices of Colorado conference hosted by Club 20, Action 22, and Pro 15. CHFA was a luncheon sponsor of the event and CHFA Director of Marketing and Community Relations, Jerilynn Francis, spoke to the group about innovations in affordable housing. Key topics discussed during the conference included: housing, higher education, economic recovery, water, agriculture, and statewide energy policy.