- Housing Continuum White Paper
- Proposition 123 Equity Program Applications Received
- Real Estate Diversity Initiative (REDI) Accepting Applications Now
- Bills Supporting Housing Advance in State Legislature
- Congress Begins Work on Fiscal Year 2025 Budget
- CHFA in the Community
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housing continuum white paper | |
Earlier this month, CHFA published a new white paper on the housing continuum, and the report is now available online. A housing continuum is a visual tool that illustrates the range of available housing options in a community, from short-term shelters for those experiencing homelessness to long-term homeownership and everything in between.
The white paper includes analysis and visuals of Colorado’s housing continuum, and how CHFA’s programs intersect with the various sectors of the continuum. This is presented alongside research and data on housing affordability, incomes earned by Coloradans across various professions, and insights on the number of Coloradans who are cost-burdened by what they spend on housing each month.
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proposition 123 equity program applications received | |
CHFA has published a list of applications received for the Equity program established by Proposition 123. The list may be viewed on the Affordable Housing Financing Fund website.
CHFA began accepting applications on March 18, 2024, and the submission period closed on April 18, 2024, at 5:00pm MT. During that time, CHFA received 35 applications requesting more than $300 million in funding requests. CHFA will announce projects selected to receive funds in July 2024.
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 program earnings, will be required for developments receiving Equity financing.
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real estate diversity initiative (redi) accepting applications now | CHFA is a proud sponsor of the Urban Land Institute (ULI) Real Estate Diversity Initiative (REDI), which is now accepting applications. REDI is a comprehensive real estate development training and mentorship program for women, people of color, and the LGBTQIA+ community. The program kicks off in June and concludes in October, with curriculum covering the spectrum of the real estate development process. Applications close Friday, May 24th, and additional details are available from ULI via the link below. | |
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bills supporting housing advance in state legislature | |
On Tuesday, April 30th, both HB24-1434, legislation that proposes to strengthen and expand Colorado’s Affordable Housing Tax Credit, and HB24-1316, the Middle Income Housing Tax Credit pilot program bill, passed House Appropriations Committee and Second Reading in the House.
HB24-1434 proposes to increase CHFA’s existing $10 million in state AHTC allocation authority by $20 million in 2024-2026; $16 million in 2027-2029; and $10 million in 2030-2031 while strengthening these additional resources.
HB24-1434 has widespread support from a strong coalition that includes affordable housing developers, advocates, investors, and local communities. With the housing shortage facing Colorado, increasing construction and labor costs, and diminishing availability for gap fund resources, it is critical that HB24-1434 moves forward in the legislature. View CHFA’s Fact Sheet on HB24-1434 for more information.
HB24-1316 proposes a new three-year pilot program that builds on the success of the Colorado Affordable Housing Tax Credit to support the development and preservation of middle-income rental housing serving households earning up to 120% AMI or 140% AMI in rural resort counties. View CHFA’s MIHTC fact sheet for more information.
Both bills will be heard on Third Reading in the House soon with consideration in the Senate following. The state legislative session ends on May 8, 2024. Please urge your House and Senate members to support both HB24-1434 and HB24-1316.
Please contact Jerilynn Francis or Julia Selby for more information.
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congress begins work on fiscal year 2025 budget | |
As Congress begins budget negotiations for the 2025 fiscal year (FY2025), CHFA elevated the following priorities for affordable housing and economic development which were also included in the Biden Administration’s budget request.
- Expanding the cap for 9 percent Housing Credit authority in 2025 to $4.37 per capita and $4.99 per capita in 2026 and indexing the caps thereafter for inflation. The proposed increases are 50 percent and 72 percent higher than the current 2024 Housing Credit volume cap, respectively.
- Permanently reducing the bond financing threshold from 50 percent to 25 percent for 4 percent Housing Tax Credit buildings placed in service after December 31, 2024;
- Permanently authorizing the New Markets Tax Credit with a $5 billion allocation;
- Supporting project-based rental assistance with $16.7 billion in 2025 and legislative language allowing HUD to award cooperative agreements for project-based contract administrators through a Notice of Funding Opportunity;
- $57.5 million to HUD for housing counseling, the same amount as FY2024;
- $225 million to help preserve and revitalize manufactured housing in eligible communities through the Preservation and Reinvestment Initiative for Community Enhancement (PRICE) grant program; and
- Supporting the creation of two refundable mortgage relief tax credits designed to help low- and middle-income families purchase homes and providing $10 billion for a new first-generation down payment assistance program.
For more information and analysis on federal legislative priorities for CHFA this budget season, visit our national trade association, the National Council of State Housing Agencies (NCSHA), and explore the full NCSHA FY2025 budget analysis via the link below.
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Be sure and follow CHFA on social media (see the links in the email footer) to keep up with our involvement at various happenings all around Colorado. Over the next month, you can find us in attendance and/or proudly sponsoring the following events across the state.
Week of April 29 – May 5
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April 30 | Coming Home: First Annual Southwest Housing Summit | Durango | More Information
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May 1 | Habitat for Humanity of Metro Denver – Breakfast for Humanity | Glendale | More Information
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May 1 | 2024 Colorado Brownfields Conference | Arvada | More Information
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May 1 | Homeward Pikes Peak: All Rise Luncheon | Colorado Springs | More Information
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May 1-4 | Colorado Byways Symposium | Alamosa | More Information
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May 1-10 | Reading Partners After the Bell Campaign | Denver | More Information
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May 2 | Northwest Colorado Council of Governments (NWCOG) Economic Summit | Silverthorne | More Information
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May 2 | Colorado Dream Foundation – Dream Gala | Denver | More Information
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May 2 | American Heart Association – Go Red for Women Celebration | Denver | More Information
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May 3 | NeighborWorks Southern Colorado Golf Scramble | Pueblo | More Information
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May 3 | Sangre de Cristo National Heritage Area Cinco de Mayo Block Party | Alamosa | More Information
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May 4 | Hope House 5K and Fun Run | Arvada | More Information
Week of May 6 - May 12
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May 6-8 | 2024 Mountain Plains Housing Summit | Colorado Springs | More Information
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May 7 | Project PAVE – Transformations Luncheon | Denver | More Information
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May 7-10 | Colorado and Mountain Plains National Association of Housing and Redevelopment Officials (NAHRO) Conference 2024 | Vail | More Information
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May 9 | New Legacy Charter School – 2024 Legacy Fundraiser | Aurora | More Information
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May 9 | Friends of DHA Wall of Fame | Denver | More Information
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May 9 | The Delores Project – Building Belonging | Denver | More Information
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May 10 | Almost Home – Spring Out of Homelessness Benefit | Brighton | More Information
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May 10 | Alamosa County Chamber of Commerce Art Gala | Alamosa | More Information
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May 11 | 2024 Montrose Wine & Food Festival | Montrose | More Information
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May 11 | Foster Alumni Mentors – Starfish Gala | Grand Junction | More Information
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May 11 | The Action Center – Where Action Matters Fundraiser | Denver | More Information
Week of May 13 - May 19
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May 16 | Silver Key Senior Services – Senior Summit | Colorado Springs | More Information
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May 16 | Care and Share Food Bank Recipe for Hope SLV Luncheon | Monte Vista | More Information
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May 17 | Colorado Women's Bar Association – 47th Annual Convention | Vail | More Information
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May 17 | Northwest Rocky Mountain CASA – 13th Annual Dancing with the Stars | Steamboat Springs | More Information
Week of May 20 - May 26
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May 20 | Colorado Preservation, Inc. Dana Crawford and Alpine Bank State Honor Awards | Denver | More Information
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May 21 | Law School...Yes We Can – Building Futures | Denver | More Information
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May 22 | Girls Inc. of Metro Denver – My Bold Future | Denver | More Information
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May 22 | Covered Colorado – Resilience Art Show | Lone Tree | More Information
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May 23 | GoFarm – Sunrise Awards Breakfast | Golden | More Information
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May 25 | Valley Bottom Rio Trio | Alamosa | More Information
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CHFA Community Relationship Managers:
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Trisha Herman, Community Relationship Manager, Eastern Colorado | |  |
Kaylee Romero, Community Relationship Manager, South Central Colorado | |
Caroline Trani, Community Relationship Manager, Southern Colorado | | |
Chris Lopez, Community Relationship Manager, Southwest Colorado | |
Margie Joy, Community Relationship Manager, Western Slope Colorado | | |
John Plakorus, Manager, Regional Community Relationships | |
Stay informed by signing up for this Community Connections eNewsletter. This monthly eNewsletter provides general CHFA news along with a closer look at how local communities are addressing their unique affordable housing and economic development needs. | |
This eNewsletter may contain links to other websites or third party materials. Links to external or third party websites or materials are provided solely for your convenience. The presence of a link does not imply any endorsement of the third party material, the website, its content or any association with the third party or website's operators by CHFA. Third-party websites or materials may be governed by their own privacy policy and terms of use, and the third party is solely responsible for the content and offerings presented on its website or in its materials. CHFA makes no representation and accepts no responsibility or liability regarding the accuracy, quality, safety, suitability or reliability of any third party material(s), external website or the content or materials of such websites. Use of linked sites is strictly at your own risk. | |
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. | |
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