chfa monthly impact report
October Report: Data from January 1 to September 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
4,419
Total homeowners served with loans
Own Your Tomorrow Education Series
CHFA remains committed to increasing Black and African American homeownership in Colorado. CHFA’s Own Your Tomorrow campaign acknowledges the importance and power of homeownership not only for now, but to build wealth and community for the future. This summer, CHFA’s Home Finance team launched the Own Your Tomorrow education series, kicking off with four in-community workshops:
June – New Hope Baptist Church (Denver)
July – Citizen’s Project (Colorado Springs)
August – Rising Star Baptist Church (Aurora)
September – Spangalang Brewery (Denver)
More than 75 attendees connected with CHFA and community-based housing counselors, lenders, and real estate professionals to learn how to build their “homebuying team” and explore financial and educational resources.
$1,592,235,595
First Mortgage Loans
$381,565
Down Payment
Assistance Grants
$59,318,326
Down Payment
Assistance Seconds
5,875
Homebuyer Education
Customers Served
Customers
$364,162
Median Loan Amount
687
Median Credit Score
$96,829
Median Income
123%
Median AMI
92%
First-time Homebuyers
rental housing
3,412
Units supported with loans, PAB, or Housing Tax Credits
Zinnia Breaks Ground in Longmont
CHFA took part in a groundbreaking celebration on September 19th for Zinnia in Longmont. Developed by Element Properties, Zinnia is a 55-unit supportive housing development constructed on land donated by the City of Longmont and the Longmont Housing Authority. It will serve individuals and families exiting homelessness and includes trauma-informed building design, furnished units, and no-cost, in-unit wireless internet service. Supportive services will be provided by the Boulder Shelter for the Homeless, Mental Health Partners, and other service agencies. Project-based rental assistance will be provided by the Colorado Division of Housing and Longmont Housing Authority.
CHFA was proud to support Zinnia by awarding $653,854 in federal 9 percent Housing Tax Credits in 2022. CHFA Tax Credit Officers Meghen Brown and Denise DeBroy attended the groundbreaking, and Denise delivered remarks on behalf of CHFA.
Photo: Zinna groundbreaking
46
Total Developments Supported
$266,091,103
Total Loan Production
$82,100,000
Multifamily Loan Commitments
Customers
2,720
Family Housing Units
242
Supportive Housing Units
484
Older Adult/Senior Units
20
Assisted Living Units
670
Rural Housing Units
25
Special Population Units
730
Preservation Units
1
0
Veteran Units
business lending
404
Total businesses served
$65 Million in New Markets Tax Credits Awarded
The Colorado Growth and Revitalization Fund (CGR Fund) received an award of $65 million in federal New Markets Tax Credits (NMTCs), the highest award amount allocated to qualified applicants this year. This marks the fifth consecutive year that the CGR Fund has received NMTCs, and it is the largest one-year allocation in CGR Fund’s history.
Since 2005, CHFA has administered more than $228 million in NMTCs through the CGR Fund, a Community Development Entity (CDE) that operates in partnership with the City and County of Denver and for which CHFA is the managing member. Recent developments in Colorado supported by the CGR Fund through NMTCs include the Pueblo Community Health Center and the Food Bank of the Rockies Western Slope Etkin Family Distribution Center.
Photo: Food Bank of the Rockies Western Slope Etkin Family Distribution Center
2,854
Total Jobs Impacted
$80,902,316
Dollars Invested
Customers
43%
Women-owned
36%
Minority-owned
17%
Women- and
Minority-owned
$181,395
Median Loan Amount
community partnerships
229
Organizations supported
Regional Tours and Southeast Rural Philanthropy Days
CHFAians joined Southern Colorado Community Relationship Manager (CRM) Caroline Trani on August 28th and 29th for a series of site visits including a community meet-and-greet in Colorado Springs, a meal at Fuel & Iron Food Hall (a business finance customer), and a tour of Rocky Ford led by CHFA Board Chair Pro-Tem Steven Cordova. CHFA was also proud to participate in Southeast Rural Philanthropy Days on September 12th through the 14th, which provided funders, government representatives, businesses, and nonprofits opportunities to strengthen partnerships to better meet the needs of rural communities.
On September 21st and 22nd, Eastern Colorado CRM Trisha Herman led a regional tour that included a meet-and-greet in Fort Morgan, a walking tour of Fort Carson, and a visit to Meadow Vista in Brush, a forthcoming development supported by Housing Tax Credits.
Photo: CHFAians take part in a tour of the southern region of the state
$3,481,492
Total Giving
$966,960
Corporate Giving
(direct and in-kind)
$390,756
Regional Community
Investment Grants
$2,123,396
Technical Assistance
859
Staff Community
Involvement Leave and Day
of Service Hours
848
Technical Assistance Hours
$380
Staff Donation Drives
and Giving and Match
spotlight
CHFA Celebrates Hispanic
Heritage Month
Hispanic Heritage Month is celebrated each year from September 15th to October 15th to recognize the rich history, culture, and contributions of the American Latino community. As part of our recognition and participation in this important time, CHFA proudly sponsored the Latinas First Foundation Luncheon on September 15th in Denver, Fiestas Patrias in Colorado Springs on September 16th and 17th, the Pueblo Hispanic Education Foundation Golf Tournament on September 22nd, and the Latino Veterans Profiles In Courage Awards in Pueblo on October 14th.
$75,000 Invested in GrantCorps
CHFA was proud to invest $75,000 into the Community Resource Center’s GrantCorps program. Grantcorps is designed to support small nonprofits with skills training, grant coaching, and consultation services and CHFA’s investment will fully sponsor over 50 participating nonprofits. This investment furthers goals identified by this year’s Aspire to Inspire and Community Relationship Manager teams to support nonprofits through increased capacity building.
Homebuyer’s Roadmap Launched
CHFA recently launched an online, interactive homebuyer’s roadmap, which highlights various aspects of buying a home, including homebuyer education, understanding credit, selecting a lender, and inspections and appraisals. Online resources on additional topics are linked throughout, giving the user the option to learn more about certain subjects. It is available at chfainfo.com/homebuyer-roadmap, and a print version is available on request.