chfa monthly impact report
December Report: Data from January 1 to November 30, 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
5,298
Total homeowners served with loans
CHFA Improves Lending Efficiency
CHFA strives to better understand the needs of its lending partners while creating enhancements to its processes that provide greater operational efficiencies. CHFA is pleased to announce it began working with two document preparation service providers in 2023 – DocMagic in June and Encompass in November.
Lenders using these service providers can utilize CHFA forms that have been integrated directly into their document preparation systems. This allows the lender’s document preparation system to access and directly populate the necessary CHFA forms and documents, providing faster processing times and eliminating data errors. This ultimately results in an improved experience for CHFA lenders and homebuyers. To date, CHFA has not had to request a loan modification where the lender utilized this integration.
$1,901,987,664
First Mortgage Loans
$390,019
Down Payment
Assistance Grants
$70,683,995
Down Payment
Assistance Seconds
7,160
Homebuyer Education
Customers Served
Customers
$363,298
Median Loan Amount
689
Median Credit Score
$96,921
Median Income
123%
Median AMI
91%
First-time Homebuyers
rental housing
5,630
Units supported with loans, PAB, or Housing Tax Credits
Round Two Housing Tax Credit Awards
CHFA is pleased to announce 10 developments will be awarded a reservation of federal and state Housing Tax Credits to support the new construction or preservation of 1,110 affordable rental units.
The following developments are receiving federal 4 percent and state Housing Tax Credit award reservations from CHFA.
901 Navajo Street, Denver, Developer: Mercy Housing Mountain Plains
Albion Affordable Apartments, Denver, Developer: Delwest Development Corporation
Ascent at Hover Crossing, Longmont, Developer: Pennrose LLC
Chrysalis Apartments, Denver, Developer: The Empowerment Program, Inc.
Denver Dry Goods, Denver, Developer: Perry Rose LLC
Edge III, Loveland, Developer: Loveland Housing Authority
Gateway Village, Fort Morgan, Developer: Rocky Mountain Communities
King’s Crossing, Aurora, Developer: Community Development Partners
Rendezvous, Montrose, Developer: Volunteers of America (VOA) National Services
Village at Homewood Point – Phase II, Colorado Springs, Developer: CS Pike Senior II L.P.
Photo: Denver Dry Goods Building, Courtesy Perry Rose LLC
62
Total Developments Supported
$358,154,103
Total Loan Production
$159,596,808
Multifamily Loan Commitments
Customers
4,250
Family Housing Units
406
Supportive Housing Units
619
Older Adult/Senior Units
25
Assisted Living Units
958
Rural Housing Units
20
Special Population Units
1,019
Preservation Units
1
0
Veteran Units
business lending
516
Total businesses served
CHFA Supports Zero-waste Grocer
A $230,500 Housing Opportunity Fund loan was issued to Nude Foods Market in Boulder. Nude Foods is a small grocer operating with the mission of making it easy for people to eliminate packaging waste from their grocery shopping using a zero-waste model. This model allows customers to receive organic, locally sourced groceries free of artificial preservatives or refined sugars that are delivered by bike or electric vehicle. In-store shopping is also available using reusable boxes, cartons, and jars.
Additionally, Nude Foods offers a rescued food box every week that includes fresh, local, organic produce at a discounted price. They are focusing their current expansion efforts to serve low-income areas that have limited access to healthy food. A portion of the loan funds will be used to support the salary of three new employees as the business continues to grow.
2,982
Total Jobs Impacted
$114,092,857
Dollars Invested
Customers
41%
Women-owned
38%
Minority-owned
18%
Women- and
Minority-owned
$221,893
Median Loan Amount
community partnerships
319
Organizations supported
Like it Forward Campaign Benefits Kids at Their Best
Like It Forward is CHFA’s annual social media campaign to benefit Colorado nonprofits whose work aligns with CHFA’s mission to invest in affordable housing and community development. This year’s campaign benefits Kids at Their Best, a nonprofit organization located in Fort Morgan focused on inspiring, educating, and empowering young people from families earning low-incomes to build resilience and strengthen their life trajectory.
Between November 27th through December 11th CHFA shared #LikeItForeward23 posts on its Facebook, Instagram, Twitter, and LinkedIn accounts featuring information about Kids at Their Best. For each like and share the posts receive, CHFA will donate $5 to the nonprofit.
$4,724,945
Total Giving
$1,648,210
Corporate Giving
(direct and in-kind)
$834,853
Regional Community
Investment Grants
$2,241,352
Technical Assistance
1,033
Staff Community Involvement Leave
and Day of Service Hours
1,255
Technical Assistance Hours
$530
Staff Donation Drives
and Giving and Match
spotlight
Steve Johnson Lifetime
Achievement Award
CHFA congratulates CHFA Director of Community Development Steve Johnson on his receipt of the 2023 Council of Development Finance Agencies (CDFA) Lifetime Achievement Award. The award was announced at the annual CDFA conference in Philadelphia in November, and it is given each year in recognition of those who have made outstanding contributions to the development finance industry throughout their professional careers.
Colorado Counties, Inc. Conference
CHFA sponsored the Colorado Counties, Inc. (CCI) 2023 Winter Conference held in Westminster in late November. This year’s conference covered a variety of topics including affordable housing, demographics, and water management. CHFA’s Community Relationship Managers attended this year’s event alongside Chief Communications and Community Partnerships Officer Jerilynn Francis and Regional Community Relationships Manager John Plakorus.
Colorado Gives Day
The Colorado Gives Day Foundation provides a donation platform supporting more than 3,000 nonprofits statewide. CHFA is a proud sponsor of the Colorado Gives Day Incentive Fund, which empowers and equips Colorado nonprofits to succeed in their work through boosts to donations made during Colorado Gives Day on December 5th and the weeks leading up to it. CHFA donated $100,000 to the Incentive Fund, and Colorado Gives Day raised $54.2M in total donations.