chfa monthly impact report

May Report: Data from January 1 to April 30, 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. Please click here for a printable PDF version of this month’s report.

 
 

CHFA

  • $1B YTD Investment (30%)
  • $3.3B Budget
  • $1B YTD Investment (30%)
  • $3.3B Budget
 

Homeownership

  • $835M YTD Investment (31%)
  • $2.7B Budget
  • $835M YTD Investment (31%)
  • $2.7B Budget

Rental Housing

  • $116M YTD Investment (24%)
  • $487.6M Budget
  • $116M YTD Investment (24%)
  • $487.6M Budget

Business Lending

  • $16.6M YTD Investment (21%)
  • $78M Budget
  • $16.6M YTD Investment (21%)
  • $78M Budget

Community Partnerships

  • $1.4M YTD Investment (24%)
  • $5.6M Budget
  • $1.4M YTD Investment (24%)
  • $5.6M Budget
 

homeownership

2,432

Total homeowners served with loans

Outreach efforts to guide customers facing hardship

As the foreclosure moratoriums previously put in place during the pandemic have ended, CHFA has increased its outreach and communications to homeownership customers to provide guidance if they’re facing hardship. Customers are encouraged to contact CHFA as soon as possible to discuss their options and access resources such as housing counseling and mortgage payment assistance programs. This information is being conveyed several ways, including:

  • CHFA’s website, with increased prominence, and added to CHFA’s Spanish microsite, Mi Hogar;

  • billing statements;

  • billing inserts in English and Spanish;

  • direct mail postcards in English and Spanish; and

  • CHFA’s quarterly newsletter, CHFA Homeowner.

These communication methods will remain ongoing throughout the coming months.

$834,997,382

First Mortgage Loans

$719,006

Down Payment
Assistance Grants

$31,702,689

Down Payment
Assistance Seconds

2,055

Homebuyer Education
Customers Served

Customers

$343,660

Median Loan Amount

682

Median Credit Score

$73,524

Median Income

96%

Median AMI

91%

First-time Homebuyers

 

rental housing

1,150

Units supported with loans, PAB, or Housing Tax Credits

Construction underway for new affordable housing in Delta

Throughout April, several affordable rental housing developments celebrated groundbreakings and grand openings in places like Delta, Denver, Colorado Springs, and Westminster.

CHFA was proud to participate in a groundbreaking ceremony held to celebrate Residences at Delta. When complete, the development will provide 50 affordable apartments to residents ages 62 and older. The development is being built adjacent to Delta Housing Authority’s affordable family housing developments, thus creating a multigenerational campus serving a spectrum of ages, incomes, and household types.

CHFA was proud to support this development by awarding federal 9 percent Housing Tax Credits in 2021. CHFA Community Development Director, Steve Johnson, spoke at the event on behalf of CHFA.

12

Total Developments Supported

$115,974,723

Total Loan Production

$4,889,000

Multifamily Loan Commitments

Customers

870

Family Housing Units

0

Homeless Housing Units

280

Senior Housing Units

0

Special Needs Units

270

Preservation Units

0

Veteran Units

101

Rural Housing Units

business lending

205

Total businesses served

Restoration Christian Fellowship builds shelters for homeless in Aurora

Restoration Christian Fellowship (RCF) is a nonprofit organization that, among its many services to the Aurora community, has grown to become a leader in providing housing solutions to those in need. In recent years, RCF has offered food, utility, and rental assistance programs, hosted COVID-19 testing and vaccinations, and conducted outreach on alternative shelter options.  

 

In an effort to create a safe outdoor space to help support households experiencing homelessness, RCF is building 36 pallet shelters on vacant land it owns. These shelters will provide individualized units with electricity, heating, built-in beds, shelving, and locks. CHFA was proud to support this development by providing a $300,000 CHFA Housing Opportunity Fund (HOF) loan.

1,282

Total Jobs Impacted

$16,612,394

Dollars Invested

Customers

38%

Women-owned

29%

Minority-owned

14%

Women- and
Minority-owned

$54,289

Median Loan Amount

community partnerships

54

Organizations supported

CHFA donates $440,500 to 34 nonprofits with first round of 2022 Direct Effect Awards

CHFA’s Direct Effect Awards recognize Colorado nonprofit organizations whose missions align with CHFA’s work to strengthen Colorado by investing in affordable housing and community development.

CHFA is donating $440,500 to 34 nonprofits through its Direct Effect program in Round One 2022, which received more than 40 applications. The average grant award amount is $12,956 and the maximum grant award amount is $25,000.

“Nonprofits are on the front lines of tackling Coloradans’ housing and economic priorities. These local champions are uniquely qualified to engage, understand, and meet the varied needs in the communities they serve. CHFA’s Direct Effect Awards were created in the spirit of knowing that sometimes the most impactful work we can do as an organization is to further the capacity of those who are already building the path forward,” said Jerilynn Francis, CHFA Community Relations Director.

Visit chfainfo.com/directeffect to learn more and view the list of recipients.

$1,350,936

Total Giving

$313,780

Corporate Giving
(direct and in-kind)

$250,000

Housing Solution Grants

$691,000

Regional Community
Investment Grants

$5,895

Staff Donation Drives
and Giving and Match

$90,207

Technical Assistance

135

Staff Community
Involvement Leave and Day
of Service Hours

258

Technical Assistance Hours

spotlight

Building the Future Scholarship

CHFA has launched its new Building the Future Scholarship Fund, which dedicates $1.2 million to support college education across Colorado. The multiphase, multiyear fund will provide up to 260 scholarships to be awarded over 10-year periods. Phase one will support scholarships for students attending Colorado Mesa University, Colorado State University Pueblo, Fort Lewis College, Foundation for Colorado Community Colleges, and University of Colorado Denver College of Architecture and Planning.

A Precious Child Heroes Luncheon

On April 14th, A Precious Child held its annual Heroes of A Precious Child Luncheon. The event brought together business leaders, community members, and elected officials to honor individuals making a difference in the lives of children in need. The program featured inspirational stories from children and families A Precious Child serves. CHFA sponsored the event and had 13 staff members attend.

Days of Service

CHFA held two Days of Service in April benefitting Habitat for Humanity of Metro Denver. On April 8, eight staff members participated in a build at Aria Homes, a new Habitat construction project. On April 21, 10 staff members volunteered at Habitat’s Denver ReStore, (pictured) home improvement thrift store. CHFA is offering at least five more Days of Service in 2022.