chfa monthly impact report
November Report: Data from January 1 to October 31, 2023
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
4,898
Total homeowners served with loans
Average Single Family Loan Amount by Year
$1,763,524,032
First Mortgage Loans
$390,019
Down Payment
Assistance Grants
$65,525,016
Down Payment
Assistance Seconds
6,507
Homebuyer Education
Customers Served
Customers
$364,036
Median Loan Amount
688
Median Credit Score
$96,929
Median Income
123%
Median AMI
91%
First-time Homebuyers
rental housing
4,071
Units supported with loans, PAB, or Housing Tax Credits
Residences at Durango Breaks Ground
CHFA had the honor of attending a groundbreaking ceremony held by TWG Development on Friday, October 27th, for Residences at Durango in west Durango. Residences at Durango includes the acquisition, rehabilitation, and adaptive reuse of a Best Western hotel into a multifamily development, along with new construction, that will consist of 120 units serving families earning between 30 and 60 percent of Area Medina Income (AMI).
CHFA was proud to support Residences at Durango by awarding $1,322,959 in federal 4 percent Housing Tax Credits in 2022. In addition, CHFA provided $23.5M in construction-to-permanent financing in 2023. CHFA Southwest Colorado Community Relationship Manager Chris Lopez attended the groundbreaking and delivered remarks on behalf of CHFA.
Photo: Residences at Durango Groundbreaking
51
Total Developments Supported
$323,154,103
Total Loan Production
$123,846,808
Multifamily Loan Commitments
Customers
3,379
Family Housing Units
242
Supportive Housing Units
484
Older Adult/Senior Units
20
Assisted Living Units
752
Rural Housing Units
25
Special Population Units
642
Preservation Units
1
0
Veteran Units
business lending
464
Total businesses served
Bonds Issued to Support Hudson Asphalt Terminal
CHFA recently issued $10 million in tax-exempt and $10 million in taxable Solid Waste Revenue Bonds to support the construction of Hudson Asphalt Terminal LLC in Hudson, Colorado. Upon completion, the facility will convert asphalt, a waste byproduct of crude oil refining with no commercial viability in its raw state, into a material that can used to support various applications including road paving and roofing.
The facility will support 10 full-time jobs with benefits packages and will increase the availability of viable liquid asphalt in Colorado. Liquid asphalt has been impacted by a supply shortage in recent years, and this has negatively affected Colorado Department of Transportation (CDOT) and its annual paving program. This facility will help meet that demand and ensure Colorado’s roads are well maintained. As an added benefit, this facility will divert material that would otherwise end up in a landfill to create usable material to support Colorado infrastructure.
2,877
Total Jobs Impacted
$108,548,942
Dollars Invested
Customers
42%
Women-owned
37%
Minority-owned
17%
Women- and
Minority-owned
$210,010
Median Loan Amount
community partnerships
310
Organizations supported
Small-scale Housing Technical Assistance Awarded
CHFA recently announced awardees selected to participate in the Small-scale Housing Technical Assistance program. The Small-scale Housing Technical Assistance program helps catalyze affordable housing developments with 30 or fewer units by providing access to pro bono affordable housing consulting services and predevelopment grant assistance.
A total of 11 applicants received technical assistance awards during the latest round:
Lincoln Health (Hugo, Lincoln County)
Karval Community Alliance (Karval, Lincoln County)
Community Economic Development of Sedgwick County (Julesburg, Sedgwick County)
Phillips County Economic Development (Holyoke, Phillips County)
Thelcrest, Incorporated (Leadville, Lake County)
Killion Associates, Ltd. (Walsenburg, Huerfano County)
Kiowa County Economic Development Foundation (Eads, Kiowa County)
Habitat for Humanity Grand County (Hot Sulphur Springs, Grand County)
City of Cortez (Cortez, Montezuma County)
Home Trust of Ouray County (Ridgway, Ouray County)
Valley Housing Fund (Gunnison, Gunnison County)
$4,463,977
Total Giving
$1,638,210
Corporate Giving
(direct and in-kind)
$629,856
Regional Community
Investment Grants
$2,195,381
Technical Assistance
954
Staff Community Involvement Leave
and Day of Service Hours
1,015
Technical Assistance Hours
$530
Staff Donation Drives
and Giving and Match
spotlight
Housing Colorado Conference
CHFA was proud to be the presenting sponsor of the Housing Colorado conference in Keystone held October 11th-13th. In total, eight CHFAians presented in various sessions and presentations throughout the conference on a range of affordable housing topics. CHFA was also featured during the Policy Luncheon, which included a panel discussion on statewide housing policy. In addition, CHFA provided conference scholarships to 12 community partners from across the state to support their opportunity to build capacity and network within the affordable housing space.
Mission Expedition Colorado Springs
On Monday, October 23rd, 15 CHFAians participated in a Mission Expedition held in Colorado Springs. Mission Expedition gives staff a chance to view CHFA’s work in action by visiting with CHFA customers and touring properties supported. Participants had the chance to tour and hear presentations from Silver Key Senior Services and The PLACE. Lynn Archuleta, Commercial Loan Officer II, shared her thoughts on the trip: “We are fortunate that CHFA has a big impact on these organizations and even more fortunate to take a day to learn about them,” she said.
Drive | Lead | Succeed Conference
CHFA attended and served as the title sponsor for the Economic Development Council of Colorado (EDCC) annual Drive | Lead | Succeed conference in Grand Junction held October 18th-20th. Each year, the conference convenes industry thought leaders and influencers in the field of economic development to share ideas and form connections in support of a vibrant Colorado economy. CHFA Director of Community Development Steve Johnson also took part in a panel discussion titled "A Tool Box For Housing in Colorado Communities.”