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
Homeownership
Rental Housing
Business Lending
Community Partnerships
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.