chfa monthly impact report

September Report: Data from January 1 to August 31, 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

4,684

Total homeowners served with loans

Top ten lenders by investment volume (year-to-date)

$1,629,679,029

First Mortgage Loans

$1,110,581

Down Payment
Assistance Grants

$62,333,613

Down Payment
Assistance Seconds

4,658

Homebuyer Education
Customers Served

Customers

$349,781

Median Loan Amount

681

Median Credit Score

$78,666

Median Income

101%

Median AMI

92%

First-time Homebuyers

 

rental housing

3,844

Units supported with loans, PAB, or Housing Tax Credits

Communities celebrate development milestones

In the month of August, seven affordable rental housing developments broke ground or opened to residents throughout Colorado. Combined, these developments represent nearly 600 units of new or preserved affordable rental housing available or underway throughout Colorado.
They included:

  • Alta Verde, Groundbreaking, Breckenridge
    155 units
    CHFA support: Middle-income Access Program loan

  • Caesar Square Grand Re-opening, Wheat Ridge
    108 units
    CHFA support: Federal 4 percent Housing Tax Credits

  • Greyhound Park Empowerment Apartments Groundbreaking, Commerce City
    50 units
    CHFA support: Federal 9 percent Housing Tax Credits

  • Immaculata Plaza Apartments Groundbreaking, Greeley
    55 units
    CHFA support: Federal 4 percent Housing Tax Credits

  • Lyons Valley Townhomes Groundbreaking, Lyons
    40 units
    CHFA support: Federal 4 percent Housing Tax Credits, Private Activity Bonds, and CAPABLE loan

  • Overlook at Powers Park, Littleton
    51 units
    CHFA support: Federal 9 percent Housing Tax Credits

  • Trails at Lehow Groundbreaking, Englewood
    82 units
    CHFA support: Federal 4 percent Housing Tax Credits and Private Activity Bonds

  • Walden35 Groundbreaking, Aurora
    100 units
    CHFA support: Federal 4 percent Housing Tax Credits

    Pictured above: Trails and Lehow groundbreaking

46

Total Developments Supported

$276,290,239

Total Loan Production

$31,400,000

Multifamily Loan Commitments

Customers

2710

Family Units

262

Homeless Units

859

Senior Units

0

Special Needs Units

865

Preservation Units

13

Veteran Units

474

Rural Units

business lending

418

Total businesses served

State of Colorado awarded $100+ million state small business credit initiative grant

On August 18th, Governor Polis, the Colorado Office of Economic Development and International Trade (OEDIT), Senators Bennet and Hickenlooper, and State Treasurer Dave Young, announced that the U.S. Treasury Department has awarded the State of Colorado a State Small Business Credit Initiative (SSBCI) grant. According to their news release, this funding could result in more than $100 million over the next five+ years to leverage $1 billion in private financing to help Colorado’s small businesses access the capital they need to invest in their businesses, and support more than 11,000 jobs across the state.

 

SSBCI funding supports programs such as Cash Collateral Support and CLIMBER Fund, administered by CHFA.

Read the news release to learn more.

2,776

Total Jobs Impacted

$50,652,090

Dollars Invested

Customers

38%

Women-owned

31%

Minority-owned

15%

Women- and
Minority-owned

$75,713

Median Loan Amount

community partnerships

158

Organizations supported

Golfers raise $75,000 for Rocky Mountain MicroFinance Institute

CHFA's annual David W. Herlinger Golf Tournament raised $75,000 for Rocky Mountain MicroFinance Institute (RMMFI) on Wednesday, August 31, 2022. RMMFI is a Denver-based nonprofit and Community Development Financial Institution that creates the space for communities and people of all backgrounds to realize their unique potential through the power of entrepreneurship.

"RMMFI is grateful for our ongoing partnership with CHFA as we work together to invest in our Colorado communities. We were honored to be chosen as the beneficiary of this year’s golf tournament. Community is at the heart of what we do, and the CHFA community continues to work alongside us to activate even more entrepreneurial potential across the state,” said Jessica Sveen, RMMFI interim CEO.

RMMFI invests in entrepreneurs’ personal and business development through a proven mix of classroom, coaching, capital, and community. Since 2008, RMMFI has supported the launch or expansion of over 370 businesses in Denver, Aurora, and the San Luis Valley. Ninety percent of RMMFI-supported businesses are owned by women and/or people of color.

Read the news release to learn more. Visit chfainfo.com/golf to learn more.

$2,468,149

Total Giving

$1,105,920

Corporate Giving
(direct and in-kind)

$275,000

Housing Solution Grants

$918,165

Regional Community
Investment Grants

$7,646

Staff Donation Drives
and Giving and Match

$161,418

Technical Assistance

915

Staff Community
Involvement Leave and Day
of Service Hours

535

Technical Assistance Hours

spotlight

54 nonprofits supported by CHFA
in Direct Effect second funding
round awards

CHFA is proud to announce its Round Two 2022 Direct Effect Award recipients. 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 $731,982 to 54 nonprofits through its Direct Effect program in Round Two, which received more than 80 applications. The average grant awarded in Round Two is $13,544 and the maximum grant award amount is $30,000.

CHFA’s third and final round for the year opened on September 1st with applications due on September 30th. Awards will be announced in November.

18 applications received for state and federal 4 percent housing tax credits

CHFA has received 18 applications for the 2022 Round Two Housing Tax Credit Awards, seeking $36,888,552 in federal
4 percent credits and $16,901,903 in state credits. The applications are for proposed projects in Arvada, Aurora, Boulder, Broomfield, Colorado Springs, Denver, Fort Collins, Fort Morgan, Lafayette, Lone Tree, Pueblo, and Silverthorne. Residents who would be served by these developments include families, older adults, and formerly homeless households. Round Two awards will be announced in
mid-November.

House proud contest celebrates homeownership

CHFA recently held its 2022 CHFA Homeownership Contest: “House Proud,” which invited CHFA homeownership customers to share what it is about their home or being a homeowner that makes them most proud and upload a corresponding photo. The prize was a $500 VISA® gift card. Below is an excerpt from the submission received by the randomly selected winner, Desirae, from Trinidad:

“We are so happy and grateful to be homeowners! This means so much to us to be able to raise our two little girls in a place we can truly call OUR home! We live in the country and as we drive into our driveway, me and my girls are usually singing, ’Home, home on the range! Where the deer and the antelope play!’ Thank you for helping us make this possible!”