Proposition 123:

Program Updates

September 27, 2024

Land Banking LOIs will be accepted through October 1, 2024

CHFA began accepting Letters of Intent (LOIs) for the Proposition 123 Land Banking program on September 16, 2024. As of September 25, 2024, 38 LOIs have been received representing over $94 million in funding requests. Approximately $48 million is available to support the Land Banking program during the 2024-2025 fiscal year.

Given the amount of available funding and high demand, the LOI acceptance period for the Land Banking program will close on October 1, 2024, at 11:59pm MT. For additional details and to download an LOI form, please visit the Affordable Housing Financing Fund website.

Prospective applicants whose LOIs are approved will be invited to complete a full application and will have 60 days to complete it. Once an application is approved, CHFA will provide the applicant with a loan commitment, along with a list of any due diligence items to be collected. The commitment will be valid for 60 days and must be signed and returned to CHFA prior to the expiration of the commitment.

Please visit the Affordable Housing Financing Fund website for full Land Banking program guidelines and application details.

Questions? Please email landbanking@chfainfo.com.

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.