chfa monthly impact report
March Report: Data from January 1 to February 28, 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
1,254
Total homeowners served with loans
top rural counties production 2020 vs. 2021
$426,627,346
First Mortgage Loans
$443,595
Down Payment
Assistance Grants
$16,119,398
Down Payment
Assistance Seconds
784
Homebuyer Education
Customers Served
Customers
$341,696
Median Loan Amount
681
Median Credit Score
$70,720
Median Income
93%
Median AMI
89%
First-time Homebuyers
rental housing
111
Units supported with loans, PAB, or Housing Tax Credits
chfa supports affordable rental townhome development in pueblo
CHFA was proud to recently fund $1.42 million in permanent financing from CHFA’s SIMPLE loan program to support Mountain View Townhomes in Pueblo (pictured). This development offers 51 townhomes for rent with one-, two-, and three-bedroom layouts, affordable to households earning 30 to 60 percent of the Area Median Income.
This development represents the second phase of the Housing Authority of the City of Pueblo’s redevelopment of the Sangre de Cristo public housing development into a vibrant townhome community utilizing HUD’s Rental Assistance Demonstration program. Mountain View Townhomes was also supported with federal 9 percent Housing Tax Credits in 2018.
2
Total Developments Supported
$2,150,000
Total Loan Production
$4,889,000
Multifamily Loan Commitments
Customers
111
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
99
Total businesses served
second chance center supported with climber loan fund
Second Chance Center (SCC) has received a $136,000 working capital loan from the CLIMBER Loan Fund, administered by CHFA. SCC worked with CLIMBER participating lender, Impact Development Fund to obtain financing.
SCC’s mission is to help formerly incarcerated people transition to lives of success and fulfillment. SCC’s comprehensive housing program includes emergency shelter, transitional housing, affordable workforce housing, and Permanent Supportive Housing. The organization’s training, apprenticeship, and employment program is geared to generate “mortgage-paying” salaries in partnership with local employers to fill the skilled labor gap. SCC serves approximately 1,800 people every year.
The CLIMBER Loan Fund is a statewide program that will provide up to $250 million in working capital loans to Colorado small businesses through 2023. It promotes small businesses recovery, saves jobs, and helps support the Colorado economy.
489
Total Jobs Impacted
$7,808,284
Dollars Invested
Customers
37%
Women-owned
33%
Minority-owned
16%
Women- and
Minority-owned
$49,734
Median Loan Amount
community partnerships
34
Organizations supported
chfa provides financial and technical assistance to ute mountain ute tribe
To support the Ute Mountain Ute Tribe (UMUT), CHFA has established a multi-year contingent funding and technical assistance partnership. CHFA will provide up to $1.5 million over three years to help UMUT address issues identified by Tribal Leadership that include infrastructure, housing, economic development, health, and financial security.
CHFA is contributing $500,000 in 2022 and commits to provide two additional contributions of $500,000 in both 2023 and 2024, contingent upon program reviews. This year’s funding will support several needs, including:
predevelopment and planning for new home construction;
preservation of existing properties through weatherization, ADA compliance, other renovation projects; and
a pilot program to purchase, renovate, and resell two existing homes.
CHFA also commits to providing technical assistance as requested by UMUT on CHFA programs and identifying other federal, state, and local resources.
$1,112,440
Total Giving
$185,900
Corporate Giving
(direct and in-kind)
$250,000
Housing Solution Grants
$651,000
Regional Community
Investment Grants
$5,127
Staff Donation Drives
and Giving and Match
$20,413
Technical Assistance
77
Staff Community
Involvement Leave and Day
of Service Hours
115.5
Technical Assistance Hours
spotlight
arrupe jesuit magis night
On February 26th, Arrupe Jesuit High School celebrated its annual Magis Night in Denver. The event raises funds to support student tuition costs, bridging the gap between what each family contributes and the total cost of education, keeping tuition affordable for families. CHFA was proud to sponsor the event.
colorado asian pacific united launches new program
Colorado Asian Pacific United (CAPU) is a nonprofit organization that works to celebrate and preserve Asian Pacific American cultures and histories through education. CAPU is developing its Historic Chinatown Teaching Trunks and Traveling Exhibit, which aims to collect artifacts, heirlooms, firsthand stories, and other important information from family descendants of the original Chinese settlers. CHFA was proud to donated $4,500 to support this project.
developer’s guide trainings
CHFA recently concluded its first Colorado Affordable Housing Developer’s Guide 101 Training series, which served more than 200 participants over five events. Attendees learned how to access the Colorado Affordable Housing Developer’s Guide and use it within their organization to better understand and plan for the development or preservation of affordable housing in their community. CHFA is offering four additional online trainings to explore different aspects of the Guide occurring April through August.