Proposition 123:

Program Updates

August 1, 2024

Equity Program Strategic Investment Round Applications Available

Applications and details about how to apply for the Proposition 123 Equity program Strategic Investment Round are now available on the Affordable Housing Financing Fund website.

Starting Friday, August 2nd, and continuing until 5:00pm MT on Friday, August 9th, applications and available supporting materials for the Proposition 123 Equity program will be accepted for a Strategic Investment Round to support applications that meet the Equity program guidelines as well as the following criteria:

• Developments that need to close prior to December 31, 2024
• Applications that demonstrate unique and extraordinary state and/or regional economic benefit
• Applications supporting developments that will leverage other statewide investment

In addition to a completed application spreadsheet, applicants must submit a narrative description and available supporting documents demonstrating how the project meets the above criteria. Please refer to the Affordable Housing Financing Fund website for details, Equity program guidelines, and Strategic Investment Round application instructions. 

Qualified applicants who were not preliminarily approved during the Equity program application round held earlier this year may apply during the Strategic Investment Round but will need to complete an application form and submit supporting documents.

The Strategic Investment Round will allocate up to $20 million in available funding to support developments meeting the criteria described above. There will be additional opportunities to apply for Equity program funding in late 2024 or early 2025.

The Equity program provides below-market-rate equity investments to eligible for-profit and nonprofit entities for the construction or preservation of low- and middle-income multifamily rental developments. A Tenant Equity Vehicle (TEV), funded through Proposition 123 program earnings, will be established by OEDIT, CHFA, and a third-party administrator to benefit the residents of developments that receive Equity financing.

Questions about the Equity program may be submitted to equity@chfainfo.com, and more information about the program, including full program guidelines, is available on the Affordable Housing Financing Fund website.

Contact

ColoradoAffordableHousingFinancingFund.com

AHFF@chfainfo.com

With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority prohibits unlawful discrimination against applicants or employees on the basis of age 40 years and over, race, sex, sexual orientation, gender identity, gender expression, color, religion, national origin, disability, military status, genetic information, marital status or any other status protected by applicable 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.