With over 45 years of experience, CHFA Multifamily Lending is your trusted partner. Together, we can build stronger communities by providing safe, secure, and

affordable homes for our fellow Coloradans.

welcome to our new team member

Please welcome Michael Fallesen to the Multifamily Lending team! Michael brings to CHFA over 30 years of experience in banking and affordable housing, including positions in grants administration, development of affordable housing, and banking. Michael has spent over 10 years with the Nebraska Investment Finance Authority (NIFA), most recently working with the Housing Tax Credit and Mortgage Revenue Bond programs.

He was also named an Admiral of the Nebraska Navy, a designation awarded by the state’s Governor, for his leadership in the consolidation of the Housing Tax Credits and HOME Funds applications. Offering one application helped streamline funds distribution and allowed developers to avoid predevelopment complications.

Michael is excited to be in Colorado and a part of the team: “I’m looking forward to exploring the beautiful state of Colorado and getting to know the people and institutions that affect its progress.”

chfa selected as proposition 123 affordable housing financing fund contract administrator

On Thursday, February 9th, the Colorado Office of Economic Development (OEDIT) officially named CHFA as its Contract Administrator for the Affordable Housing Financing Fund created under Proposition 123. The Affordable Housing Financing Fund will receive 60 percent of the funds raised by Proposition 123. Monies will be used to support a Land Banking program, and Concessionary Debt and Equity programs. Consistent with the state’s fiscal year and as drafted in the Proposition, funds will not be available for deployment until after July 1, 2023. OEDIT is currently accepting public input on the measure and planning upcoming stakeholder engagement opportunities to help inform program design. Visit the OEDIT website for more for more information.

program feature: villas at mesa ridge, fountain

On February 8th, CHFA closed on a $3,015,000 SMART loan and $500,000 Healthy Housing Fund loan to support Villas at Mesa Ridge.

This provides permanent financing for the 60-unit development, which serves seniors aged 62 and older. The project also received an award of federal 9 percent Housing Tax Credits in 2019.

Residents will thrive with a wealth of amenities and services. The property includes a fitness room, library, game room, community room with kitchenette, and a picnic/BBQ area and gazebo. Local providers will offer onsite health and wellness services. In addition, residents will receive a membership to the Fountain Valley Senior Center, which offers meal services, wellness checks, classes, social and fitness activities, and transportation. Tailored programming is also available through Rainbow Housing Assistance Corporation. Nearby shopping centers provide access to goods and services just steps away from the property.

CHFA’s SMART loan program provides $3-$6 million in permanent insured financing, featuring up to 40-year fixed rates and one of the lowest FHA mortgage insurance premiums in the industry. This program can be used regardless of Housing Tax Credit funding.

2022 community report available

In the report, learn how CHFA invested $2.7 billion to support affordable housing and community development in 2022.

Highlights include how CHFA increased community engagement, strengthened programs, and was proud to assist Coloradans through its homeownership, rental housing, business lending, and community partnership programs.

View the Community Report

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Our solution-oriented team will help you find the right program to make your project a success. Connect with us today at 1.800.297.2342 or MF-Lending@chfainfo.com.

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With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority does not discriminate on the basis of race, color, religion, sex, age, national origin, disability, or any other protected classification under federal, state, or local law. Requests for reasonable accommodation, the provision of auxiliary aids, or any complaints alleging violation of this nondiscrimination policy should be directed to the Nondiscrimination Coordinator, 1.800.877.2432, TDD/TTY 800.659.2656, CHFA, 1981 Blake Street, Denver, Colorado 80202-1272, available weekdays 8:00am to 5:00pm.