AFFORDABLE HOUSING PRESERVATION AND PRODUCTION

AFFORDABLE HOUSING

PRESERVATION AND

PRODUCTION

ANNUAL PUBLIC REPORT ON FUNDING OF

2020-21

Report covering grant and loan awards made by the State of Colorado Department of Local

Aairs, Division of Housing to support aordable housing development and preservation in

State Fiscal Year 2020-21, running from July 1, 2020 to June 30, 2021.

Table of Contents

Acronym List ........................................ 3

Denitions ............................................. 4

Introduction ......................................... 6

Director’s Letter ................................... 7

Housing Needs .................................... 8

About Housing Needs ...................... 10

Our Process ........................................... 11

Housing Programs ............................. 12

Financial Summary ............................ 17

Funding Overview.............................. 18

Funding Detail ..................................... 23

Award Descriptions ........................... 28

Acronym List

The table below contains acronyms and abbreviations that are used throughout the report.

Term Denition

AMI Area Median Income

CDBG Community Development Block Grant

CDBG-DR Community Development Block Grant - Disaster Recovery

CHFA Colorado Housing and Finance Authority

CHIF Colorado Housing Investment Fund

DOH Division of Housing

DOLA Department of Local Aairs

DPA Down Payment Assistance

ESG Emergency Solutions Grant

ESG-CV Emergency Solutions Grant - Coronavirus

HDG Housing Development Grant

HOME HOME Investment Partnerships Program

HSP Homeless Solutions Program

HTF Housing Trust Fund

HUD U.S. Department of Housing and Urban Development

LIHTC Low Income Housing Tax Credit

PBV Project Based Voucher

PHA Public Housing Authority

PSH/SH Permanent Supportive Housing/Supportive Housing

SFOO Single Family Owner Occupied Rehabilitation Program

SRO Single Room Occupancy Unit

TBV Tenant Based Voucher

URA Uniform Relocation Act

The table below contains denitions of technical terms that are used throughout the report.

Denitions

Term Denition

Aordable Housing A housing development and/or unit that limits the rent or pric-

es to below market rates, and restricts use of those units to

households at certain income levels, in return for public and/

or private subsidy.

Area Median Income A measure dened by the HUD that, generally, is used to de-

termine aordable housing eligibility for households based on

their county of residence and size (number of persons within

the household) compared to the median income for a house-

hold of that size within a county.

Low Income Housing Tax Credit Tax credits allocated to investors that contribute equity to af-

fordable housing development and preservation projects by the

Colorado Housing and Finance Authority. Investors may credit

against their state or federal income taxes, depending on the

type of credit allocated to the investor.

Public Housing A specic type of aordable housing rst created by the U.S.

Congress through the enactment of the U.S. Housing Act of

1937. Public housing provides deeply aordable rental units for

the lowest income Coloradans through annual capital and oper-

ating subsidies from HUD, and are operated by public housing

authorities. Numerous federal laws limit the extent to which

public housing units can be developed and constructed, as such

they constitute a minority of Colorado’s aordable housing

stock.

Public Housing Authority Quasi-governmental organizations that own and operate af-

fordable housing, often administering voucher and public hous-

ing programs on behalf of HUD.minority of Colorado’s aord-

able housing stock.

Private Activity Bonds Bonds issued by or on behalf of a local or state government for

the purpose of providing special nancing benets for quali-

ed projects, often aordable housing developments. Inter-

est earned on the bonds by investors is exempt from federal

income taxes.

Re-syndication Additional capital nancing can be provided to existing aord-

able housing developments through re-syndication, or the al-

location of new tax credits. This new infusion of equity, along

with additional capital funds from the Division of Housing and

other funders, has the eect of preserving the below market

rates of the development and can often rehabilitate the exist-

ing units as well.

Term Denition

Single Family Owner Occupied

Home Rehabilitation Program

A service oered by community based non-prot organizations

that assists homeowners in repairing or updating the struc-

ture of their home or systems and components within it. Funds

cover administrative, labor, and materials costs and can assist

with everything from emergency re- pair to rehabilitation and

modication to improve the health and safety of residents.

Supportive Housing A housing unit, development or program that combines non-

time-limited and low-barrier aordable housing assistance

with wrap-around supportive services for people experiencing

homelessness, as well as other people with disabilities.

Transitional Housing A development that is designed to provide housing and appro-

priate supportive services to homeless persons to facilitate

movement to independent living. The housing is short-term,

typically less than 24 months. In addition to providing safe

housing for those in need, other services are available to help

participants become self-sucient.

Voucher Funding provided to a landlord, on behalf of a tenant, that cov-

ers a portion of their rent and utilities. Can take the form of a

Tenant Based Voucher (TBV) which is attached to a household

that may be used at the unit of their choice, or, conversely, a

Project Based Voucher (PBV) which is attached to an individual

unit.

Introduction

-Regulating Mobile Home Parks and the con-

struction and installation of factory-built

structures

Increasing the availability of safe, aordable

housing in Colorado is one of DOH’s top priori-

ties. DOH assists developers, housing authori-

ties, non-prot agencies, and local govern-

ments in creating aordable housing through

gap funding for acquisition, rehabilitation and

new construction. These grants and loans are

competitive and funding is based on timing, avail-

ability and department priorities.

Mission

Statutory Basis of Report

Governor Jared Polis enacted HB21-1028 into law on June 30th, 2021

which created the Annual Public Report on Funding of Aordable Housing

Preservation and Production (codied at 24-32-705.5 of Colorado Revised Statutes, or C.R.S.).

This law requires the Department of Local Aairs (DOLA) to prepare a report in 2021, and each year thereafter,

which is to be presented to its Joint Committees of Reference in the General Assembly at State Measurement

for Accountable, Responsive, and Transparent Government Act (or SMART Act) hearings (generally held in

January of each year) and published online. The scope of this report includes many, but not all, housing

programs overseen by the Division of Housing within DOLA and particularly focuses on programs that fund

the new construction, rehabilitation, and/or acquisition of rental or for-sale aordable housing, temporary

or emergency housing such as shelters or transitional housing, and down payment assistance programs. More

information on the statutory basis of this report may be found at C.R.S. 24-32-705.5.

The Division of Housing (DOH) partners with local communities to create housing opportunities for Coloradans

who face the greatest challenges to accessing aordable, safe and secure homes.

Working with the State Housing Board, DOH supports projects ranging

from homelessness prevention to homeownership. Our work

includes:

- Increasing and preserving Colorado’s inventory of

aordable housing

- Managing rental assistance vouchers

- Creating and supporting collaborative

approaches to end homelessness

Director’s Letter

and to share the impact that public and private investments in aordable housing are having on com-

munities across Colorado. Though DOH has published reports on many of its numerous programs over

the years; this report represents our rst eort to compile a report for a general audience as opposed

to past reports which are intended for technical audiences such as regulators and appropriators.

Dear Stakeholders,

The State of Colorado

Department of Local

Aairs, Division of Housing

(DOH) is excited to

publish this rst Annual

Public Report on Funding

of Aordable Housing

Preservation and Production

Funding awards for aordable housing development,

homeowner rehabilitation, and down payment assistance

made in State Fiscal Year 2020-21 (SFY21), running from

July 1, 2020 to June 30, 2021, will create or preserve

2,453 units of aordable housing in 30 counties. These

transformational investments in communities and families

were made possible through eight programs overseen by

DOH, funded through a variety of sources from federal

grants to state General Funds and fees.

This report includes the rst grants and loans made pos-

sible through increased Housing Development Grant Fund

revenues from state vendor fees, enabled through the

enactment of HB19-1245 in 2019. DOH received approxi-

mately $15 million of vendor fee funds in SFY21, starting

in April 2021, but expects to receive upwards of $50 mil-

lion annually in future scal years, so the impact of this

funding source will be more fully realized in subsequent

reports.

Colorado saw historic investments in aordable housing

in 2021 with the enactment of HB21-1329, which imme-

diately appropriated $98.5 million to DOH for gap nanc-

ing to assist persons disproportionately impacted by the

COVID-19 public health emergency to obtain aordable

housing. A further $400 million was appropriated to the

Aordable Housing and Home Ownership Cash Fund, the

uses of which will be determined by legislation enacted

in the 2022 legislative session and informed by the Af-

fordable Housing Transformational Taskforce. This funding

from HB21-1329 was allocated to the State of Colorado

through the State and Local Fiscal Recovery Fund Program

(created through the federal American Rescue Plan Act).

Neither of these funding sources will be covered in this re-

port as no awards were made with this funding during this

reporting period, though readers can expect expenditures

in subsequent reports.

The developments and programs covered in this report,

and those that will be covered in years to come, represent

hope for hundreds of thousands of Coloradans that face

housing challenges on a daily basis. DOH is here to serve

Coloradans in this time of need and opportunity and ap-

preciates the partnership of applicants and communities

in making this work possible.

Sincerely,

Alison George

Access to housing that is aordable, safe and secure has a critical impact on the health, nancial security,

and economic opportunity of all Coloradans. However, housing has become increasingly out of reach for

many with median rents increasing by 66% (from $756 to $1,258) and median home list prices increasing

by 67% (from $236,600 to $394,600) from 2010 to 2019, even though median household incomes increased

by only 43% (from $54,046 to $77,127) over this same period

. This lack of aordable housing has had a

substantial impact on Coloradans with an estimated 315,000 households paying over half of their income

towards housing costs in 2019

. Households that pay more than half of their income towards housing costs are

considered severely housing cost burdened, making it dicult for them to pay for other essential expenses

such as healthcare, transportation and education.

Rising housing costs have created mismatches between housing

prices and what many households can aord. The income to

rent the median apartment is $54,759 though the median

renter income is $52,362; the income to buy the median

home is $98,650 while the median homebuyer

income is $66,516

. Though the new construction

of housing can alleviate these economic

pressures for renters and home buyers, the

eect of new construction on aordability

is dampened by a lack of supply. Housing

production has dropped by 29% over the

last decade

, even though Colorado grew

signicantly as is evidenced by a 26%

growth in the number of jobs from 2010

to 2019

The impact of housing unaordability

is most pronounced for extremely low-

income Coloradans, those earning less

than 30% of the Area Median Income

(AMI) or roughly $30,000 per year or

less.

1 DOH Tabulations of American Community Survey 1-Year

Estimates 2010, 2019 IPUMS USA, University of Minnesota,

www.ipums.org.

2 Ibid.

3 Ibid.

4 DOH tabulations of 2020 and 2010 Decennial Census data

5 U.S. Bureau of Labor Statistics, All Employees: Total Nonfarm in Colorado

[CONA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://

fred.stlouisfed.org/series/CONA, January 7, 2022.

Housing Needs

315K +66%

Households pay over half their

income towards housing

Increase in rents over the

past ten years

65%

Of households earning 30% of the

Area Median Income spend over

half of their income on housing

Sixty-ve percent (65%) of these households at 30% AMI are severely housing cost burdened

. Severe housing

cost burden is less prevalent amongst moderate and middle income households (earning roughly $50,000 to

$75,000 per year)

. Severe housing cost burden disproportionately impacts our most vulnerable residents;

62% of severely housing cost burdened households have a member who works in a low wage occupation, an-

other 23% are seniors, 7% have disabilities, and 3% are in school

. The pain of high housing costs is felt across

the state, whether in urban and suburban areas where high job growth contributes to high competition for

housing, resort areas where multimillion dollar home prices and tight rental inventory put housing out of

reach for middle and low income residents, and rural areas where challenges in attracting developers or

contractors has led to an old and deteriorating housing stock.

How DOH Programs Improve Housing Aordability

DOH uses Federal and State funds to assist in the nancing of housing development projects and programs.

Applications for aordable housing development are accepted on a monthly basis while down payment

assistance program applications are accepted once annually; both are highly competitive due to limited

funding.

Funding awards are structured as grants or low to no-interest loans, and the amount of funds awarded to

individual applicants is determined by a nancial underwriting process in which the need for gap funds, and

the level of debt that may be supported, are evaluated.

1 DOH Tabulations of American Community Survey 1-Year Estimates 2010, 2019 IPUMS USA, University of Minnesota, www.ipums.org.

2 Ibid.

3 Ibid.

About Housing Needs

The underwriting process determines the extent to which DOH funds are required for the success of the

project or program, how DOH funds can support the long term feasibility of the program or project, and meet

the needs of households and communities. Grants and loans awarded to applicants by DOH have the eect of

making housing aordable by reducing the capital and operating costs of aordable housing developments.

The capital development costs of newly constructed or rehabilitated housing tend to be high due to the price

of land, labor, and construction materials. DOH funding, along with funding from other public and private

entities, contributes to covering these capital and operating costs, thereby reducing the amount of debt that

the developer must take on to construct or rehabilitate the housing.

Similarly, the operating

costs of housing can be high due to

building operations, maintenance, and debt

service costs.

The savings that the developer gains from this grant or

loan is then passed on to their residents; the amount that

residents pay towards their housing is determined by their

household income, size, and county of residence as dened

by DOH policy. The cost of rental and for-sale housing, and the

income restrictions for the households that may reside within

them, are typically restricted for 30 years after completion.

Down-payment assistance programs operated by community-based

organizations loan funds directly to households which must, with

some exceptions, be repaid in full (often upon the sale of the

unit). These repaid funds remain with the local community-based

organization and are re-lent to new homebuyers.

Once an award is made then a legally binding grant or loan agreement

is drafted, reviewed, approved, and executed between all parties

involved in the development project or housing program. This

agreement is overseen by Asset Managers who provide in-depth

technical assistance to the grantee or borrower on complex

policies and procedures, verify that laws, regulations, and

policies are being followed properly during (and sometimes

after) the performance period, and ensure that public funds

are put to judicious use before payments are issued.

Our Process

The Division of Housing provides in depth assistance to partner organizations at every stage of the grant and loan

making process in order to maximize the use of funds and create optimal outcomes for communities and residents.

04 05

Technical assiance is provided to potential grant

and loan applicant organizations before a formal

submission is made to ensure the completeness

and accuracy of the application.

Upon submission, the application is reviewed

to identify pros and concerns of the program or

project, and to determine the extent of need

for DOH funding.

The program or project is overseen by DOH sta

to ensure that it is following legal, regulatory,

and contractual requirements.

A binding grant and/or loan agreement is

negotiated between DOH and the grantee or

borrower.

Sta present a funding recommendation to the

State Housing Board, generally along with the

applicant. The Board votes to approve, alter, or

deny the recommendation.

Pre-Application Review

Contract Management and Monitoring

Contract Negotiation

SHB Approval

Housing Programs

DOH awards generally make up roughly 5% of the total

capital stack of aordable housing development

projects.

This means that every $1 of state and federal funds awarded by DOH is leveraged by about $20 in other

funds. Most of these leveraged funds take the form of private debt and equity from investors such as local,

regional, or national nancial institutions; often in the form of equity contributed in return for federal or

state Low Income Housing Tax Credits. Philanthropic foundations often contribute grants and loans as well,

as do cities and counties with their own local or federal funds.

DOH uses a variety of funding streams to make aordable housing programs and projects possible. The information in

the pages that follow describes the distinguishing characteristics of these programs

The Community Development Block Grant (CDBG) Program

supports community development activities to build stronger

and more resilient communities. Created by the U.S. Congress

through the passage of the Housing and Community Development

Act of 1974, it is one of the oldest federal block grant programs.

Activities undertaken with CDBG funds may address one of

dozens of eligible needs such as infrastructure, economic

development projects, public facilities installation, community

centers, housing rehabilitation, homeowner assistance and

public services. The State of Colorado distributes 1/3 of its

CDBG allocation to housing activities including down payment

assistance, single family owner-occupied home rehabilitation,

and housing development and preservation while the remaining

⅔ of State CDBG funds are used for economic development and

public facilities and infrastructure activities.

There are 23 other jurisdictions in Colorado that receive their

own allocations of CDBG funds directly from HUD including the

cities of: Arvada, Aurora, Boulder, Broomeld, Castle Rock,

Colorado Springs, Commerce City, Denver, Fort Collins Grand

Junction, Greeley, Lakewood, Longmont, Loveland, Pueblo,

Thornton, and Westminster; the counties of Adams, Arapahoe,

Douglas, El Paso, Jeerson, and Weld also receive their own

allocations. These localities received about $29.2 million, or

79% of all CDBG funds allocated in Colorado in 2021.

Community Development Block Grant

Congress may or may not appropriate funds to the Department

of Housing and Urban Development (HUD) for disaster recovery

when there are signicant unmet needs for long-term recovery

for a presidentially declared disaster. These funds are then

granted to States through the Community Development Block

Grant - Disaster Recovery (CDBG-DR) program, which are in

turn granted to localities, non-prot organizations, economic

development agencies, citizens, and businesses. CDBG-DR

funds may be used for housing, but also for disaster relief,

long term-recovery, infrastructure restoration, and economic

revitalization.

The State of Colorado was granted $320 million in CDBG-DR

funds in 2013 in order to provide relief to communities and

residents that suered from substantial wildres and oods

that took place in 2012 and 2013. This funding source was

largely spent down as of 2021.

Community Development Block Grant - Disaster Recovery

The Emergency Solutions Grant Program was created by

the Homeless Emergency Assistance and Rapid Transition to

Housing Act of 2009 (HEARTH Act), which revised a previously

existing program to shift the program’s focus from addressing

the needs of homeless people in emergency or transitional

shelters to assisting people to quickly regain stability in

permanent housing after experiencing a housing crisis and/

or homelessness. This program generally focuses on funding

the operations of rapid re-housing and homeless prevention

programs as well as shelters.

However, a complementary version of this program (named

ESG-CV) aiming to prevent, prepare, and respond to the

coronavirus pandemic was created by Congress through the

passage of The Coronavirus Aid, Relief, and Economic Security

Act (CARES Act) in 2020. These ESG-CV funds may be used for

the new construction or rehabilitation of shelters (in addition

to numerous other activities) through grants made to eligible

recipients. ESG-CV funds were allocated to DOLA on a one-

time basis by HUD and this program will cease operation once

funds are spent down, though the original ESG program which

focuses on operational funding (as opposed to capital funding)

will continue.

Emergency Solutions Grant - Coronavius

The HOME Investment Partnerships Program (HOME) provides

formula grants to states and localities to fund a wide range

of activities including building, buying, and/or rehabilitating

aordable housing for rental or homeownership or providing

direct rental assistance to low-income people. HOME funds

are awarded annually as formula grants to participating

jurisdictions (PJs). The program’s exibility allows states and

local governments to use HOME funds for grants, direct loans,

loan guarantees or other forms of credit enhancements, or

rental assistance or security deposits.

There are 10 other jurisdictions in Colorado that receive their

own allocations of HOME funds directly from HUD including

the cities of: Aurora, Boulder, Colorado Springs, Denver, Fort

Collins, Greeley and Pueblo in addition to the counties of

Adams, Arapahoe, and Jeerson. These localities received

about $11.6 million, or 61% of all HOME funds allocated in

Colorado in 2021.

HOME Investment Partnership Program

The Homeless Solutions Program (HSP) was created by the

Division of Housing following the annual appropriation of

$15.3 million in Marijuana Cash Tax Funds to the Housing

Development Grant budget line by the General Assembly

through the enactment of the 2017-18 Long Appropriations Bill

(SB17-254). Funds are prioritized for organizations that serve

individuals with an extensive history of homelessness and

behavioral health conditions who are frequent or high-cost

consumers of public systems, such as behavioral health and

justice systems, in addition to Youth and Veterans experiencing

homelessness. HSP is a exible funding source and is used for

housing development in addition to vouchers, rapid re-housing,

and supportive services for persons experiencing homelessness.

Homeless Solutions Program

In February 2012, the state of Colorado together with 48 other

states reached a settlement with the ve largest mortgage

servicing companies. Through this settlement, Attorney

General John Suthers announced over $50 million, all custodial

funds through the Attorney General’s oce, would be used

for homeowner relief, foreclosure prevention and aordable

housing. The Colorado Housing Investment Fund (CHIF) was

created from the Attorney General’s custodial funds with

$13.2 million to address Colorado’s need for aordable rental

housing. In 2015, an additional, $23 million in custodial funds

were added to the CHIF based on the success of the Fund.

The CHIF funds can be used two ways: 1) short term, low interest

loans to bridge the long-term permanent nancing sources (a

portion of loan may remain in the project as permanent debt)

and 2) short term loan guarantees for new construction and

rehabilitation. The CHIF funds will revolve back into the CHIF

fund allowing DOH to make more loans, as the short-term loans

are repaid or loan guarantees are released.

Colorado Housing Investment Fund

The Housing Trust Fund (HTF) provides grants to states to

produce and preserve aordable housing for extremely low-

and very low-income households. HTF was created by the U.S.

Congress through the enactment of the Housing and Economic

Recovery Act of 2008, HUD allocates HTF funds to states

by formula annually. A State must use at least 80 percent

of each annual grant for rental housing; up to 10 percent

for homeownership; and up to 10 percent for the grantee’s

reasonable administrative and planning costs. HTF funds

may be used for the production or preservation of aordable

housing through acquisition, new construction, reconstruction,

and/or rehabilitation. All HTF-assisted units are required to

have a minimum aordability period of 30 years.

Housing Trust Fund

The Housing Development Grant (HDG) program is a

competitive program that provides State funds for numerous

housing activities through grants and loans. The program was

created by the General Assembly and is funded by a mix of

General Funds, Cash Funds and Reappropriated Funds. HDG

funds improve, preserve and expand the supply of aordable

housing and nance the acquisition of housing and economic

data necessary to advise the State Housing Board on local

housing conditions.

Housing Development Grant

Financial Summary

DOH revenues and

expenditures, State Fiscal

Year 2020-21

This page contains nancial information on the

funding used by DOH to support the production and

preservation of aordable and emergency housing.

Data is only provided on awards, allocations, and

appropriations for the most recent scal year, and

only includes transactions concerning the programs

described in the previous pages. Funds allocated,

appropriated, or transferred to DOH are not nec-

essarily awarded to grantees and borrowers in the

same year that the funds are made available to DOH.

$43,710,486

awarded by

DOH to grantees

& borrowers

This is because many funding sources are made

continuiously available to DOH, which allows

projects and programs to be paired with the

funds most suitable for each application in

question, regardless of the year that funds

were originally made available to DOH.

Because DOH accepts applications on a

monthly basis (as opposed to semi-annually)

and, generally, applications are only submitted

following in-depth technical assistance -- the

amount of funds awarded to applicants is

often the same as, or close to, the amount

requested by the applicant. This has the eect

of maximizing the impact of funds on individual

projects and broader communities.

$70,305,965

appropriated,

allocated, or

transferred

to DOH

$2,082,326

expended for

administrative

costs

(supporting 23 full-time equivalents and

operating costs)

*The mismatch between funds appropriated, allocated or transferred to the Division and the funds

awarded to grantees and borrowers is due to approximately $20 M in state funds transferred to

the Division in the last quarter of FY21, including Prop EE and Vendor Fee; additional $5.6 M in

federal Housing Trust Fund received with a 3-year spending timeline; and approximately $4M of

Marijuana Tax Cash Funds that were utilized for housing vouchers instead of development.

Funding Overview

Region Funding Awarded

Total

Aordable Units

Created

Central Mountains $3,471,145 174

Eastern Plains $2,594,789 56

Front Range $28,779,767 1,830

Mountain Resort $5,144,500 215

Western Slope $3,720,285 212

Grand Total $43,710,486 2,487

Figure 1: Funds Awarded and Aordable Units Created by

Region

Figure 2: Development Project Awards by Location

Project Activity Funding Awarded

Total

Aordable Units

Created

Acquisition + Rehabilitation $6,910,909 454

Down Payment Assistance $1,763,085 83

New Construction $26,710,880 1,750

Rehabilitation $6,849,560 42

Repairs of Owner Occupied

Housing/Rehabilitation

$1,476,052 158

Grand Total $43,710,486 2,487

Figure 4: Funds Awarded and Aordable Units Created by

Project Activity

Figure 3: Development Project Awards by Location

(Denver Metro)

Project Type Funding Awarded

Total

Aordable Units

Created

Homeownership $4,946,137 285

Rental $28,335,409 1,968

Shelter $3,626,234 0

Supportive Housing $6,578,880 223

Transitional Housing/Group

Home

$223,826 11

Grand Total $43,710,486 2,487

1 Shelters have beds for temporary stays as opposed to units for permanent residency, shelter beds are outlined in Figure 8

Figure 5: Funds Awarded and Aordable Units Created by

Project Type

Figure 6: Down Payment Assistance Program Agency Service

Areas

Hinsdale

Project Name Funding Awarded

Shelter Beds

Created

Brighthouse Shelter $660,000 22

Homeward Bound of the Grand

Valley Shelter

$275,559 148

Loaves and Fishes Shelter $200,000 15

Pueblo County Shelter $120,000 40

Stout Street Recuperative Care

Center for the Homeless

$2,000,000 75

Urban Peak Shelter $370,675 35

Grand Total $3,626,234 335

1 The beds at Stout Street Recuperative Care Center for the Homeless will be recuperative beds, as opposed to shelter beds, and

are for those who have been hospitalized and cannot safely be discharged to the streets or traditional shelters due to their acute

health conditions.

Figure 8: Emergency Housing (Shelter) Awards Overview

Figure 7: Single Family Owner Occupied Home Rehabilitation

Program Agency Service Areas

Project Type Funding Awarded

Total

Aordable Units

Created

CDBG $5,479,756 389

CDBG-DR $500,000 25

CHIF $4,700,000 390

ESG-CV $966,234 0

HDG $9,083,920 411

HDG,CHIF $3,560,000 28

HOME $5,231,696 497

HSP $7,888,880 174

HTF $6,300,000 573

Grand Total $43,710,486 2,487

Figure 9: Funds Awarded and Aordable Units Created by

Project Type Funding Source

Figure 10: Award Summary

Requested

Amount

Awarded

Amount

Total

Project

Cost

Total

Aordable

Units

Awards

Made

$46,873,996 $43,710,486 $824,616,377 2,487 54

Funding Detail

Figure 11: Funds Awarded By Project and Program

Region Applicant

Project /

Program

Name

Funding

Source City

County /

Counties

Project

Type

Project

Activity

Requested

Amount

Awarded

Amount

Total

Project

Cost

Aordable

Units

1 Central

Mountains

Chaee

Housing Trust

(CHT)

CHT Home

Ownership

Program

HDG N/A Chaee Home-

ownership

Down Payment

Assistance

$907,500 $907,500 $6,674,813 32

2 Central

Mountains

Chaee

Housing Trust

(CHT)

M & 3rd HDG Salida Chafee Home-

ownership

New Construction $180,000.00 $180,000 $1,751,180 6

3 Central

Mountains

Chaee

Housing Trust

(CHT)

River Ridge HDG Salida Chaee Home-

ownership

New Construction $160,000.00 $127,000 $1,757,115 8

4 Central

Mountains

City of Salida Salida Ridge CDBG Salida Chafee Rental New Construction $720,000.00 $720,000 $12,835,959 48

5 Central

Mountains

Fremont

County

Fremont

County/

UAACOG

SFOO Rehab

Program

CDBG N/A Chaee,

Custer,

Fremont,

Lake, Park,

Teller

Counties

Home-

ownership

Repairs of Owner-

Occupied Housing

/Rehabilitation

$311,645 $311,645 $1,265,409 40

6 Central

Mountains

Loaves and

Fishes

Loaves

and Fishes

Shelter

ESG-CV Canon City Fremont Shelter Rehabilitation $150,000 $200,000 $1,089,602 0

7 Central

Mountains

Northwest Real

Estate Capital

Corp.

Iron Horse

Lofts

HTF Alamosa Alamosa Rental New Construction $1,025,000 $1,025,000 $12,015,600 40

8 Eastern

Plains

Southeast

Mental Health

Services

First Street

Apartments

HSP Lamar Prowers Supportive

Housing

New Construction $888,880 $888,880 $1,554,054 12

9 Eastern

Plains

TransEquity

Development

Inc.

Plainsview

Apartment

HDG Lamar Prowers Rental Acquisition +

Rehabilitation

$1,705,909 $1,705,909 $2,605,909 44

10 Front Range Brothers Valor on the

Fax (7900E

Colfax) PSH

HSP Denver Denver Supportive

Housing

New Construction $1,440,000 $1,440,000 $25,422,115 72

11 Front Range CARE Housing

Inc.

Swallow Road

Apartment

HOME Ft. Collins Larimer Rental Acquisition +

Rehabilitation

$4,399,500 $840,000 $24,041,058 84

Region Applicant

Project /

Program

Name

Funding

Source City

County /

Counties

Project

Type

Project

Activity

Requested

Amount

Awarded

Amount

Total

Project

Cost

Aordable

Units

12 Front Range City of Lone

Tree

RidgeGate

Station

CDBG Lone Tree Douglas Rental New Construction $615,000 $615,000 $21,538,124 67

13 Front Range Colorado

Coalition for

the Homeless

Renaissance

Legacy Lofts

HSP Denver Denver Supportive

Housing

New Construction $1,100,000 $1,100,000 $9,752,632 34

14 Front Range Colorado

Coalition for

the Homeless

Stout Street

Recuperative

Care Center

for the

Homeless

HSP Denver Denver Shelter Rehabilitation $2,000,000 $2,000,000 $18,126,377 0

15 Front Range Commonwealth

Development

Corporation

Village at

Solid Rock

HTF Colorado

Springs

El Paso Rental New Construction $500,000 $500,000 $21,055,197 77

16 Front Range DBG

Properties, LLC

Academy

Heights

Apartments

CHIF Colorado

Springs

El Paso Rental New Construction $1,000,000 $3,000,000 $45,255,904 201

17 Front Range Denver Housing

Authority

655

Broadway

CHIF Denver Denver Rental Acquisition +

Rehabilitation

$1,000,000 $1,000,000 $44,411,785 110

18 Front Range Denver Housing

Authority

Thrive HOME Denver Denver Rental New Construction $1,200,000 $900,000 $50,286,064 105

19 Front Range Denver Housing

Authority

Greenhaus CHIF Denver Denver Rental New Construction $1,100,000 $700,000 $39,206,305 79

20 Front Range Four Corners

Development

Highland

Trails

HTF Littleton Jeerson Rental New Construction $945,000 $945,000 $27,672,244 88

21 Front Range Full Plate

Management

Fuel & Iron HDG , CHIF Pueblo Pueblo Rental Rehabilitation $3,560,000 $3,560,000 $6,464,062 28

22 Front Range Homeward

Pikes Peak

The

Commons

HSP Colorado

Springs

El Paso Supportive

Housing

New Construction $1,500,000 $1,500,000 $17,692,719 50

23 Front Range “Shoshone

Housing

Partners LLLP

(Denver

Housing

Authority)”

32nd and

Shoshone

HOME Denver Denver Rental New Construction $585,000 $585,000 $28,450,919 53

24 Front Range Foothills

Regional

Housing (JeCo

Housing

Authority)

Allison

Village

HTF Arvada Jeerson Rental New Construction $1,170,000 $1,170,000 $35,983,550 100

Region Applicant

Project /

Program

Name

Funding

Source City

County /

Counties

Project

Type

Project

Activity

Requested

Amount

Awarded

Amount

Total

Project

Cost

Aordable

Units

25 Front Range Larimer County Larimer

County/

Loveland

Housing

Development

Corp. SFOO

Rehab

Program

CDBG N/A Larimer

County

(Excluding

City of

Loveland &

City of Fort

Collins)

Home-

ownership

Repairs of Owner-

Occupied Housing

/Rehabilitation

$322,711 $332,711 $1,265,409 54

26 Front Range Loveland

Housing

Authority

Brookstone

Apartments

Renovation

HOME Loveland Larimer Rental Acquisition +

Rehabilitation

$1,331,250 $1,065,000 $18,324,127 71

27 Front Range Loveland

Housing

Development

Corp.

Loveland

Housing

Development

Corp. SFOO

Rehab

Program

HOME N/A Larimer Home-

ownership

Repairs of Owner-

Occupied Housing

/Rehabilitation

$200,000 $206,696 $896,864 39

28 Front Range Maiker Housing

Partners

Crossing

Pointe South

HTF Thornton Adams Rental New Construction $1,100,000 $1,100,000 $46,685,801 142

29 Front Range Mercy Housing

Eastern Plains

The Rose on

Colfax (8315

Colfax)

HOME Denver Denver Rental New Construction $1,020,000 $1,020,000 $28,426,144 82

30 Front Range Metro West

Housing

Solutions

Lamar

Station

Crossing II

HTF Lakewood Jeerson Rental New Construction $795,000 $795,000 $19,444,116 65

31 Front Range Mile High

Ministries

Clara Brown

Commons

HTF Denver Denver Rental New Construction $750,000 $765,000 $22,791,849 61

32 Front Range NeighborWorks

Southern

Colorado

Neighbor-

Works South-

ern Colorado

DPA

HDG N/A Pueblo Home-

ownership

Down Payment

Assistance

$289,685 $279,685 $2,454,185 12

33 Front Range NeighborWorks

of Southern

Colorado

Neighbor-

Works of

Southern

Colorado

SFOO Pro-

gram

HDG Pueblo Pueblo Home-

ownership

Repairs of Owner-

Occupied Housing

/Rehabilitation

$325,000 $325,000 $363,000 15

34 Front Range NeighborWorks

of Southern

Colorado

Hyde Park

Gardens

HDG Pueblo Pueblo Home-

ownership

New Construction $80,000 $80,000 $643,988 4

Region Applicant

Project /

Program

Name

Funding

Source City

County /

Counties

Project

Type

Project

Activity

Requested

Amount

Awarded

Amount

Total

Project

Cost

Aordable

Units

35 Front Range Pueblo County Pueblo

County

Shelter

ESG-CV Pueblo Pueblo Shelter Rehabilitation $250,000 $120,000 $410,000 0

36 Front Range REDI

Corporation

Rhonda’s

Place

HDG Denver Denver Supportive

Housing

New Construction $1,470,000 $1,350,000 $16,940,454 49

37 Front Range Senior Housing

Options

The

Apartments

at Cinnamon

Park

CDBG-DR Longmont Boulder Rental Acquisition +

Rehabilitation

$500,000 $500,000 $8,416,562 25

38 Front Range The Point

Crossing LLC

The Point

Crossing

HOME Aurora Arapahoe Rental New Construction $615,000 $615,000 $18,939,167 63

39 Front Range Urban Peak

Denver

Urban Peak

Shelter

ESG-CV Denver Denver Shelter Rehabilitation $250,000 $370,675 $28,000,000 0

40 Mountain

Resort

Artspace

Projects, Inc

Ridgway

Space to

Create

Supplemen-

tal Funding

HDG Ridgway Ouray Rental New Construction $650,000 $650,000 $9,464,146 30

41 Mountain

Resort

Bright Future

Foundation

Bright House HSP Gypsum Eagle Shelter New Construction $660,000 $660,000 $3,627,698 0

42 Mountain

Resort

CASA of the 7th

Judicial District

CASA - First

Place on

Palmer

HSP Delta Delta Supportive

Housing

New Construction $900,870 $300,000 $900,870 6

43 Mountain

Resort

Townof

Breckenridge

Alta Verde CDBG Brecken-

ridge

Summit Rental New Construction $960,000 $960,000 $29,954,829 80

44 Mountain

Resort

City of

Gunnison

Lazy K

Housing

CDBG Gunnison Gunnison Home-

ownership

New Construction $1,320,000 $1,320,000 $14,966,220 26

45 Mountain

Resort

Delta County,

Colorado

Delta County

Housing

Authority

Scattered

Site Homes

Remodel

CDBG Delta Delta Rental Rehabilitation $99,500 $99,500 $99,500 3

46 Mountain

Resort

Fraser Mill

Development,

LLC

The Mill

Apartment

HDG Fraser Grand Rental New Construction $900,000 $900,000 $18,447,842 60

Region Applicant

Project /

Program

Name

Funding

Source City

County /

Counties

Project

Type

Project

Activity

Requested

Amount

Awarded

Amount

Total

Project

Cost

Aordable

Units

47 Mountain

Resort

Gunnison

Valley Regional

Housing

Authority

Gunnison

Valley

Regional

Housing

Authority

HDG Down

Payment

HDG N/A Gunnison

and Hinsdale

Counties

Home-

ownership

Down Payment

Assistance

$200,704 $255,000 $3,055,143 10

48 Western

Slope

Animas View

Mobile Home

Park Co-Op

Animas View

Mobile Home

Park

HDG Durango La Plata Rental Acquisition +

Rehabilitation

$1,800,000 $1,800,000 $15,383,538 120

49 Western

Slope

City of Durango City of

Durango

Homesfund

DPA

CDBG N/A Archuleta,

Dolores,

La Plata,

Montezuma,

San Juan

Home-

ownership

Down Payment

Assistance

$320,900 $320,900 $39,843,120 29

50 Western

Slope

Homeward

Bound of the

Grand Valley

Homeward

Bound of the

Grand Valley

Shelter

ESG-CV Grand

Junction

Mesa Shelter Rehabilitation $276,116 $275,559 $781,662 0

51 Western

Slope

Karis Inc. Benni’s

House

HDG Grand

Junction

Mesa Transitional

Housing/

Group Home

Rehabilitation $98,104 $98,104 $469,392 5

52 Western

Slope

Karis Inc. Matthew’s

House

HDG Grand

Junction

Mesa Transitional

Housing/

Group Home

Rehabilitation $125,722 $125,722 $509,705 6

53 Western

Slope

Montezuma

County

Calkins

Commons

CDBG Cortez Montezuma Rental New Construction $800,000 $800,000 $15,021,350 42

54 Western

Slope

Ute Mountain

Ute Tribe

Ute Mountain

Tribal Home

Improvement

Program

HDG N/A Montezuma Home-

ownership

Repairs of Owner-

Occupied Housing

/Rehabilitation

$300,000 $300,000 $1,181,000 10

Award Descriptions

Region Project Name Description

1 Central

Mountains

CHT Home -

ownership Program

Chaee County was awarded $907,500 in HDG funds for the Chafee Housing Trust

Homeownership Program. This program will assist up to 32 qualied low-income

homebuyers acquire with awards of up to $25,000 per household.

2 Central

Mountains

M & 3rd The Chaee Housing Trust (CHT) was awarded $180,000 in HDG funds to assist

with the new construction of M&3rd in Salida. The City of Salida approached

the CHT to partner in the development of a city-owned parcel created by the

vacation of a redundant city street. The maximum building potential of the

newly created lot allows for two duplexes for rent and two homes for sale at 80%

AMI and below.

The homes will be manufactured by indieDwell Colorado (iD) in their Pueblo

factory. All homes will be net-zero ready.Each unit will be built to be adaptable

to the United Federal Accessibility Standards (UFAS)

3 Central

Mountains

River Ridge The Chaee Housing Trust was awarded $160,000 in HDG funds to assist with

the new construction of River Ridge in Salida. The development will consist of 8

single family condominium homes across two three-story walk-up structures in

the new River Ridge subdivision. The 1-, 2-, and 3-bedroom (BR) homes will be

oered for sale to qualied low-income Chaee County households earning less

than 80% of AMI, and the CHT’s 99-year ground lease will ensure aordability

within the Community Land Trust (CLT) model. All ground oor units (one 1 BR,

two 2 BR, and one 3 BR) will meet the United Federal Accessibility Standards

(UFAS), and the 8-10 space parking lot separating the two buildings will include

two dedicated ADA spaces. The homes will be manufactured by indieDwell

Colorado (iD) in their Pueblo factory and will be net-zero ready..

4 Central

Mountains

Salida Ridge The City of Salida, on behalf of Commonwealth Development Corporation (CDC),

was awarded $720,000 in CDBG funds to assist with the new construction of

Salida Ridge in Salida. The development will consist of 48 rental units across

two three-story walk-up structures that will include 1-, 2-, and 3-bedroom units

for households making 30%, 40%, and 50% of the Area Median Income (AMI). This

project will be the rst multifamily aordable housing rental project in Salida for

some time. Commonwealth Management Corporation will manage the property,

and local general contractor Diesslin Structures will construct the buildings.

Salida Ridge received an allocation of 9% Federal Low-Income Housing Tax Credits

(LIHTCs) in 2020.

5 Central

Mountains

Fremont County/

UAACOG SFOO

Rehab Program

Fremont County was awarded $311,645 in CDBG funds for the Upper Arkansas

Area Council of Governments (UAACOG) single family owner occupied home

rehabilitation program. This program will provide 40 loans over a two year period

to the rehabilitation of substandard housing and provision of emergency repairs.

6 Central

Mountains

Loaves and Fishes

Shelter

Loaves and Fishes was awarded $200,000 in ESG-CV funds to support the

rehabilitation of their existing shelter with 15 beds to a non-congregate model in

order to prevent, prepare for, and respond to coronavirus.

7 Central

Mountains

Iron Horse Lofts Northwest Real Estate Capital Corporation (NWRECC) was awarded a HTF funds of

up to $1,025,000 for the construction of Iron Horse Lofts in Alamosa. Iron Horse

Lofts will be a 41-unit aordable housing community, with 1-, 2-, and 3-bedroom

units targeting households under 60% AMI. The project was awarded 9% LIHTCs in

the 2020 round.

Region Project Name Description

8 Eastern Plains First Street

Apartments

Southeast Health Group was awarded $888,880 in HSP funds to assist with

the construction of the First Street Apartments in Lamar, CO. The First Street

Apartments will be a 12-unit Supportive Housing (SH) project, the rst of its kind

in Lamar, CO. The project consists of 11 one bedroom and 1 two bedroom units

all restricted at or below 30% AMI. The homes will be manufactured by indieDwell

Colorado (iD) in their Pueblo factory and will be net-zero ready.

First Street Apartments is designed for individuals, couples and families with

low incomes who have a history of homelessness, a behavioral health problem,

and could benet from the comprehensive supportive services being oered.

Preference will be given to homeless individuals with a behavioral health

problem, who may or may not be justice-involved reentry. Southeast Health

Group will provide all of the supportive services associated with this housing site.

9 Eastern Plains Plainsview

Apartment

TransEquity Development, Inc.,was awarded $1,705,909 in CHIF funds to assist

with the acquisition and rehabilitation of the Plainsview Apartments in Lamar,

CO. Additionally, the City of Lamar was awarded a $900,000 CDBG grant which

will be loaned to TransEquity Development, Inc. The Plainsview Apartments is

a 45-unit project constructed in 2003 using the LIHTC program. The project

consists of 27 two bedroom and 18 three bedroom apartments located in nine

2-story buildings. The units are currently restricted in the post 15-year LIHTC

compliance period at 30%, 40%, 50% and 60% AMI.

10 Front Range Valor on the Fax

(7900E Colfax) PSH

Brothers Redevelopment, Inc. (BRI) was awarded $1,440,000 in HSP funds to

assist with the new construction of 7900 E. Colfax. This will be a single building

consisting of 72 one, two, and three bedroom units in East Denver. The project

will be 100% permanent supportive housing (PSH) serving households earning 30%

of the Area Median Income (AMI) or lower.

The Colorado Housing and Finance Authority (CHFA) has awarded 9% Low Income

Housing Tax Credits (LIHTC) to this project. The Denver Housing Authority (DHA)

is providing 55 federally funded project-based vouchers (PBVs), and DOH is

providing seventeen State-funded PBVs.

This building will serve extremely low-income individuals and families with a

preference for those experiencing homelessness with a disabling condition and/

or complex barriers to housing stability. Referrals will originate from the Regional

Coordinated Entry System and the Brain Injury Alliance of Colorado (BIAC).

Services will be provided on-site by BIAC. More than 10,000 square feet of ground

oor space will be available for supportive services and case management.

11 Front Range Swallow Road

Apartment

CARE Housing, Inc. (CARE), a community-based nonprot housing organization,

was awarded $840,000 in HOME funds to assist in the nancing of the Swallow

Road Apartments rehabilitation project in Fort Collins. The project is a

partnership between CARE and Housing Catalyst (HC), with HC providing

technical assistance throughout the development and lease-up of the project.

The scope includes the renovation of two adjacent rental apartment complexes

using 4% Low-Income Housing Tax Credits (LIHTC) and tax-exempt bond nancing.

12 Front Range RidgeGate Station The City of Lone Tree, on behalf of Koelbel & Company (Koelbel), was awarded

$615,000 in CDBG for the acquisition of RidgeGate Station Aordable Apartments

(RSA) in Lone Tree. The property will consist of 67 units for families earning at or

below 30-80% AMI in a new ve-story apartment building.

13 Front Range Renaissance

Legacy Lofts

Colorado Coalition for the Homeless (CCH) was awarded $1,100,000 in HSP funds

for Renaissance Legacy Lofts. The Renaissance Legacy Lofts PAB component

will occupy the 8th and 9th oor of the project and will contain 34 units of

supportive housing with 23 federal project-based vouchers from DOH.

Region Project Name Description

14 Front Range Stout Street

Recuperative Care

Center for the

Homeless

Colorado Coalition for the Homeless (CCH) was awarded $2,000,000 in HSP

funds for Stout Street Recuperative Care Facility. Stout Street Recuperative

Care Facility will occupy the rst three oors of a building targeted to people

experiencing homelessness who have been hospitalized and cannot safely be

discharged to the streets or shelters due to their acute health conditions, and

will be a 75-bed Assisted Living/Medical Respite facility nanced primarily with

New Market Tax Credits.

15 Front Range Village at Solid

Rock

Solid Rock Community Development Corporation was awarded $500,000 in

HTF funds for the Village at Solid Rock. The Village at Solid Rock will be a

collaborative project by Commonwealth Development Corporation (CDC) and

Solid Rock Community Development Corporation (Solid Rock). The project

was conceived out of Interfaith Alliance of Colorado’s Congregation Land

Campaign, which sought to pair faith groups with experienced developers to

meet community housing needs and make use of underutilized church property

to serve the community. It will consist of 77 newly constructed units serving

households earning 30-80% of the Area Median Income (AMI).

16 Front Range Academy Heights

Apartments

DBG Properties LLC (DBG) was awarded a $1,000,000 in CHIF funds for the

construction of Academy Heights in east Colorado Springs. The property will

consist of 201 units for households earning at or below 30-70% AMI in three new

4-story apartment buildings. The project received an allocation of Federal 4%

Low Income Housing Tax Credits from CHFA.

17 Front Range 655 Broadway The Housing Authority of the City and County of Denver (DHA) was awarded

$1,000,000 in CHIF funds to assist with the acquisition and adaptive reuse of

a vacant oce building at the corner of Speer and S. Broadway adjacent to

Denver Health’s newly upgraded hospital campus. The repurposed building will

be renamed 655 Broadway (655 Broadway) and will provide 110 aordable units

serving households with incomes at 60% AMI and below for seniors (ages 62 and

up) or disabled residents. The building has been vacant since 2018.

655 Broadway will include fourteen single room occupancy (SRO) units at 30% AMI

and 96 1-BR units available to households earning 30%, 40%, 50% and 60% AMI.

The SRO units will serve homeless individuals with disabilities or special needs

and will be provided at zero rents as transitional housing units.

The Colorado Housing and Finance Authority (CHFA) has awarded 4% Low Income

Housing Tax Credits (LIHTC) and State tax credits for this development. Federal

and State historic tax credits have also been awarded to 655 Broadway. DHA is

providing 36 federally funded project based vouchers (PBVs).

More than 20,000 square feet of ground oor space will be available for support

services for homeless individuals. These services will support resident transitions

to long term independent housing.

18 Front Range Thrive The Housing Authority of the City and County of Denver (DHA) was awarded

$900,000 in CHIF funds to assist with the new construction of Thrive. Thrive, a 4%

LIHTC project, is one part of phase two of the DHA’s Sun Valley Redevelopment,

along with GreenHaus (a 9% LIHTC project). The Thrive LIHTC project includes

105 units, of which 62 are public housing replacement units supported by

project-based vouchers. Thrive was awarded 4% LIHTC in May 2020.

19 Front Range GreenHaus The Housing Authority of the City and County of Denver (DHA) was awarded

$700,000 in CHIF funds to assist with the new construction of GreenHaus.

GreenHaus is one part of phase two of the DHA’s Sun Valley Redevelopment,

along with Thrive (a 4% LIHTC project). GreenHaus will provide 79 units, of which

63 are public housing replacement units supported by project-based vouchers.

The project includes 37 units at 30% AMI, 14 at 40% AMI, 12 at 50% AMI, 9 at

70% AMI and 7 at 80% AMI in a mix of unit sizes and types including ve 4- and

5- bedroom units for larger families. A separate condominium with 50 market

rate units will be scattered throughout the building. GreenHaus was awarded 9%

LIHTC in May 2020 and will close in late 2020.

Region Project Name Description

20 Front Range Highland Trails Four Corners Development was awarded $945,000 in HTF funds to assist with

the construction of Highland Trails, a 4% Low-Income Housing Tax Credit (LIHTC)

and State Aordable Housing Tax Credit nanced new construction project for

Seniors, aged 55+ located in unincorporated Jeerson County. Highland Trails will

consist of 88-units, a mix of one- and two-bedroom units, in a 4-story structure

that will serve income levels from 20% of area median income (AMI) to 80% AMI.

The project will be certied under the Zero Energy Ready Home (ZERH) program

and Enterprise Green Communities.

21 Front Range Fuel & Iron Full Plate Management, a for-prot developer based in Denver, was awarded

$3,000,000 in CHIF funds and $560,000 in HDG funds for the rehabilitation of the

Holmes Hardware Block in downtown Pueblo. The building originally provided

supplies and tools to area agricultural and industrial customers nearby that

sprang up at the end of the 19th century. After being destroyed by re in 1915,

the building was reconstructed with reproof concrete, allowing it to survive

the ood of 1921. Having sat vacant since the early 2000s, this rehabilitation

will convert the ground oor into a food hall and restaurant incubator, using

state and federal historic tax credits, and the two upper oors into 28 units of

aordable housing, targeting households earning between 30% and 60% AMI in

studios, one-, and two-bedroom units.

22 Front Range The Commons Homeward Pikes Peak (HPP), in conjunction with Dominium, was awarded

$1,500,000 in HSP funds to assist with the new construction of The Commons

in Colorado Springs. The Commons will be a 50 unit Supportive Housing

development that targets homeless families and veterans. The 4-story building

will include a mix of one-, two-, and three-bedroom units. HPP and Dominium

will co-develop the project with Dominium providing all development services

pro-bono. The partnership received an allocation of 9% Federal Low-Income

Housing Tax Credits (LIHTCs) in 2020.

23 Front Range 32nd and Shoshone The Housing Authority of the City and County of Denver (DHA) was awarded

$585,000 in HOME funds to support the construction of 32nd and Shoshone

in North Denver. This newly constructed three story multifamily building will

provide 53 units of aordable rental housing, and replace 10 units of obsolete

public housing. Residents of the existing 10 public housing units will be given a

right of rst refusal to return a new PBV unit at Shoshone,

24 Front Range Allison Village Jeerson County Housing Authority was awarded $1,170,000 in HTF funds to

assist in the development of Allison Village, aordable housing community

proposed for Arvada. Allison Village will provide 100 units (72 one-bedroom

units and 28 two-bedroom units). The project was also awarded 4% Low Income

Housing Tax Credits and State Aordable Housing Tax Credits.

Allison Village will include 30 units restricted to households earning at or below

30% of the area median income (AMI) and 9 units at at or below 40% AMI with

rents supported by 39 project-based vouchers committed by FRH. Nine units

will be supported with VASH vouchers, specically for veterans. Youth aging

out of foster care will receive a preference for up to 30 units at Alison Village

FRH will provide on-site services through several existing partnerships with Red

Rocks Community College, STRIDE Community Health Center, Jeerson County

Department of Human Services, and CASA (Court Appointed Service Advocates) of

Jeerson County.

25 Front Range Larimer County/

Loveland Hous-

ing Development

Corp. SFOO Rehab

Program

Larimer County was awarded $332,711 in CDBG funds for the Larimer Home

Improvement Program in partnership with Loveland Housing Development

Corporation. This program will deliver 54 loans over a three-year period to

homeowners at or below 80% AMI with low interest loans for home repairs,

maintenance, and improvements.

Region Project Name Description

26 Front Range Brookstone

Apartments

Renovation

Loveland Housing Authority (LHA) is the current owner of the property and is

re-syndicating under a newly formed tax credit partnership, and was awarded

$1,065,000 in HOME funds to support this aordable housing preservation eort.

For this project, LHA will act as developer and HousingQuest Corporation, a

wholly owned entity of LHA, will be the General Partner. Palace Construction

is the general contractor, and LHA will serve as property manager. LHA intends

to fund the project using 4% LIHTC, tax-exempt bonds, seller nancing and a

municipal CDBG grant. LHA will be issuing $9,300,000 in private activity bonds

(PAB), which comes from the City of Loveland PAB cap.

This project is an existing 72 unit aordable multifamily property consisting of

nine (9), 8-plex, two-story buildings. Original construction was completed in two

phases in 2000 and 2002 and received 9% LIHTC nancing for both phases with

LURAs set to expire in 2040 and 2042. The property currently has $1,400,000

of existing debt and requires $1,200,000 paid to investors to exit the current

partnership. The appraised value of the property with restricted rents is

$6,700,000 as of December 2020.

27 Front Range Loveland

Housing

Development

Corp. SFOO Rehab

Program

“The Loveland Housing Development Corporation (LHDC) was awarded $206,696

in HOME funds for administrative costs to deliver 39 loans over a three-year

period through their Larimer Home Improvement Program (LHIP), a Single- Family

Owner-Occupied Rehabilitation loan program serving homeowners at or below

80% AMI. Larimer County, in partnership with LHDC, was also awarded $332,711

in CDBG funds to cover administrative costs to deliver 54 loans over a three-year

period.The LHIP program provides qualied households with low interest loans

for home repairs, maintenance, and improvements.

The program serves Larimer County (including the entitlement areas of Loveland

and Fort Collins) as well as the town of Milliken in Weld County. LHDC has

received funding for this program from the Colorado Division of Housing since

1997 and has completed the rehabilitation of approximately 360 homes to date.

New homeowner rehabilitation loans during this period will be funded with HOME

program income (on hand and anticipated) generated from LHIP.”

28 Front Range Crossing Pointe

South

Adams County Housing Authority d/b/a Maiker Housing Partners (Maiker)

was awarded $1,100,000 in HTF funds to assist with the new construction of

Crossing Pointe South. Crossing Pointe South is the second and nal phase

of a multigenerational community in Thornton. After the development of 64

apartment homes for elderly families at Crossing Pointe North, Crossing Pointe

South will oer 142 apartment homes serving low to moderate income families

earning between 30% and 70% AMI. Using 34 project based vouchers , Maiker will

be able to increase housing opportunities for extremely low income families.

29 Front Range The Rose on Colfax

(8315 Colfax)

“Mercy Housing Mountain Plains (MHMP) was awarded $1,020,000 in HOME funds

to assist with the new construction of The 8315 E. Colfax. 8315 E. Colfax will

provide 82 units to households earning 30% to 70% of the Area Median Income

(AMI) The mix will be 30 one-bedroom, 28 two-bedroom, 22 three-bedroom, and

2 four-bedroom units. The development has received awards of 4% Low Income

Housing Tax Credits and State Tax Credits from the Colorado Housing and Finance

Authority (CHFA). The land for the site will be donated by the City and County of

Denver.

The development will be a new 5-story mixed-use building with aordable

housing and a 5,000 sf aordable early childhood education center (ECE)

operated by Mile High Early Learning on the rst oor.”

30 Front Range Lamar Station

Crossing II

Metro West Housing Solutions (MWHS) was awarded $795,000 in HTF funds to

assist with the construction of the second phase of Lamar Station Crossing

located in Lakewood. MWHS has received an award of 9% LIHTC from CHFA.

Adding to the 110 units in Phase I, Phase II consists of 65 units made up of three

studios, 27 one-bedroom, 28 two-bedroom and seven three-bedroom apartments.

I The project will have a mix of 20%, 30%, 40%, 50%, 60%, 70% and 80% AMI units.

Region Project Name Description

31 Front Range Clara Brown

Commons

Mile High Ministries (MHM) was awarded $765,000 in HTF funds to assist with the

new construction of Clara Brown Commons . This will be an aordable, multi-

family housing project located in the Cole Neighborhood in Denver.

Clara Brown Commons will provide 61 units available to households earning 20%

to 80% AMI with the average at 50.8% AMI. The mix will be fourteen 1-bedroom,

28 two-bedroom, and nineteen 3-bedroom units. The development has received

awards of 4% Low Income Housing Tax Credits (LIHTC) and State Aordable

Housing Tax Credits from the Colorado Housing and Finance Authority (CHFA). The

land for the site will be purchased at a 22% discount from the appraised value

from the Tyl Foundation.

32 Front Range NeighborWorks

Southern Colorado

DPA

NeighborWorks of Southern Colorado was awarded $289,685 in HDG funds to

expand their current Down Payment Assistance (DPA) program in Pueblo, CO,

which had not yet received Division of Housing funding. Funds will be used to

administer the program and provide up to 12 DPA loans to households earning

between 80% and 100% of the AMI. The assistance should not exceed 10% of

the total purchase price. This program may be paired with another program

NeighborWorks of Southern Colorado oers, the HUD Self-Help Opportunity

Program (SHOP), contributing up to an additional $15,000 in assistance to the

home-buyer.

33 Front Range NeighborWorks of

Southern Colo-

rado Single Family

Owner Occupied

Home

Rehabilitation

Program

NeighborWorks of Southern Colorado was awarded $325,000 in HDG funds to

deliver 15 loans over a one-year period through a new Single Family Owner

Occupied (SFOO) Rehabilitation Program. This program preserves housing

stock for low and moderate income households in Pueblo, CO. NeighborWorks

of Southern Colorado plans to oer low-interest loans for help to cover

rehabilitation costs for persons and families who do not have access to

traditional funding. This program will be paired with the Lead Harm Reduction

fund currently being administered by the applicant, bringing additional funding

to the rehabilitation of homes. Rehabilitation has been prioritized with health

and safety concerns as the number one priority and architectural barriers for

person(s) with disabilities as a number two priority.

34 Front Range Hyde Park Gardens NeighborWorks of Southern Colorado, a non-prot organization, was awarded

a $60,000 HDG grant to construct four single family homes in the Hyde Park

Gardens subdivision on Pueblo’s west side. A HUD Self-Help Opportunity Program

(SHOP) grant was successfully obtained, contributing $15,000 subsidy to each

unit. NeighborWorks of Southern Colorado currently owns the vacant lots and will

sell the homes to buyers qualied at or below 80% AMI.

35 Front Range Pueblo County

Shelter

Pueblo County was awarded $120,000 in ESG-CV funds to support the

rehabilitation of their existing shelter with 40 beds to a non-congregate model in

order to prevent, prepare for, and respond to coronavirus.

36 Front Range Rhonda’s Place REDI Corporation was awarded $1,350,000 in HDG for the construction of

Rhonda’s Place in Denver. Rhonda’s Place will be a 49-unit permanent supportive

housing project located in the Barnum neighborhood. The project was awarded

4% and State Tax Credits in the 2020 round. REDI Corp., in partnership with the

Mental Health Center of Denver, will provide supportive services to residents of

Rhonda’s Place.

37 Front Range The Apartments at

Cinnamon Park

Senior Housing Options (SHO), a 501(c)3 non prot, was awarded $500,000 in

CDBG-DR funds to assist with the development of the Apartments at Cinnamon

Park located in Longmont that will serve seniors, 62 years and older, earning 30%

to 60% of AMI. SHO received an award from CHFA of 9% LIHTC this year. The site

is the last of three parcels comprising the Cinnamon Park Campus and is adjacent

to SHO’s two existing 24-unit assisted living properties. The intent is to serve

seniors who can live independently with minimal assistance. Being next to the

assisted living properties, that are staed 24/7, residents will be able to access

help if needed by means of a call button in each unit.

Region Project Name Description

38 Front Range The Point Crossing Mile High Development (MHD) dba The Point Crossing LLC was awarded $615,000

in HOME funds to assist with the new construction of The Point Crossing . This

will be an aordable, family housing project located adjacent to the Regional

Transportation District’s (RTD) Nine Mile Station at Parker Road and I-225. The

proposed project will be constructed within the 22-acre redevelopment known

as The Point at Nine Mile Station (formally known as Regatta Plaza). The subject

site is currently being reinvented as a premier transit-oriented mixed-use

destination with a new pedestrian and bicycle bridge connecting the site directly

to RTD’s Nine Mile Station.

39 Front Range Urban Peak Shelter Urban Peak was awarded $370,675 in ESG-CV funds to support the rehabilitation

of their existing shelter with 35 beds to a non-congregate model in order to

prevent, prepare for, and respond to coronavirus.

40 Mountain

Resort

Ridgway Space to

Create Supplemen-

tal Funding

Artspace was awarded an$650,000 in HDG funds for Ridgway Space to Create,

The project will include 30 new units of aordable rental housing serving

households earning between 30% and 80% AMI.The project was awarded 9% LIHTC

in 2020, the rst award for Ouray County

41 Mountain

Resort

Bright House The Bright Future Foundation (BFF) was awarded $660,000 in HSP funds in

support of construction of Bright House. BFF serves survivors of domestic

violence and/or sexual assault in the Eagle River Valley, including Vail, Red Cli,

Minturn, Avon, Edwards, Wolcott, Eagle, and Gypsum. Bright House will be able

to provide shelter to up to 24 survivors of domestic violence at a time at a newly

constructed two-story facility in Gypsum, Colorado.

42 Mountain

Resort

CASA - First Place

on Palmer

CASA of the 7th Judicial District (CASA) was awarded an $300,000 in HSP funds

for 1st Place on Palmer to serve youth coming out of foster care or facing

homelessness. This project will consist of six units for young adults aging out of

foster care or facing homelessness. The project will include case management

services funded through Chafee Foster Care Independence Program.

43 Mountain

Resort

Alta Verde The Town of Breckenridge, on behalf of Gorman and Company, was awarded

$960,000 in CDBG funds that will be loaned to the developer to assist with

the development of the Alta Verde Apartments in Breckenridge. Gorman and

Company was selected as the developer of this project through an RFP put out by

the Town of Breckenridge who owns the property and will lease it to the project

at a nominal cost with a perpetually aordable deed restriction. 9% Low-Income

Housing Tax Credits were awarded to this mixed income development consisting

of 80 newly constructed one, two, and three bedroom apartments restricted

to households earning 30% to 100% AMI 30I. The developer is setting rents for

the 100% AMI restricted units at 60% AMI levels, meaning that moderate income

residents will pay less than they would otherwise have to.

44 Mountain

Resort

Lazy K Housing The City of Gunnison was awarded $1,230,000 in CDBG funds to help with

infrastructure costs and tap fees for Lazy K Housing. Lazy K is a 15-acre property

in Gunnison that was purchased by the City of Gunnison (City) in 2015. Since that

time, there has been extensive community outreach to shape the plans for the

largely undeveloped site. The City intends to develop 4.3 acres of the property

into aordable for-sale housing, with 23 units restricted for households with

incomes at or below 80% AMI, 19 homes restricted for households with incomes at

or below 120% AMI, and two market rate homes. The homes will be a combination

of single-family homes, duplexes and townhomes.

45 Mountain

Resort

Delta County Hous-

ing Authority Scat-

tered Site Homes

Remodel

Delta Housing Authority was awarded $99,500 in CDBG funds to rehabilitate up

to three of its aordable rental homes to make necessary repairs and increase

energy eciency.

Region Project Name Description

46 Mountain

Resort

The Mill Apartment Fraser Mill Development, LLC, on behalf of The Mill Apartments, LLLP, was

awarded $900,000 in HDG funds to assist with the construction of The Mill

Apartments, a 9% Low-Income Housing Tax Credit (LIHTC) nanced, 60-unit

multifamily aordable rental housing development in Fraser, Colorado. The Mill

will consist of one-, two-, and three-bedroom units serving households earning

30% to 80% AMI in two residential buildings. This will be the rst new aordable

rental housing development in Fraser since 1995. The Project was awarded 9%

LIHTCs in October 2019.

47 Western Slope Gunnison Valley

Regional Housing

Authority HDG

Down Payment

GVRHA was awarded $255,000 in HDG funds to expand their Down Payment

Assistance program to serve households earning between 80% and 100% AMI.

Funds will be used to administer the program and provide up to 10 DPA loans to

qualifying households in Gunnison and Hinsdale Counties. Loans will be made for

up to $28,000 in Gunnison County and up to $25,000 in Hinsdale County, with a

maximum interest rate of 2% and not more than 100% CLTV. Borrowers must also

attend a HUD-approved Homebuyer Education Class given by a HUD certied

housing counselor employed by a HUD-approved Housing Counseling agency.

48 Western Slope Animas View Mo-

bile Home Park

Animas View Mobile Home Park Co-op was awarded $1,800,000 in HDG funds

from the Division of Housing to pay down a bridge loan for the acquisition of and

infrastructure improvements at the Riverview Mobile Home Park on the north

side of Durango.

Riverview is situated between Highway 550 and the Animas River and includes

120 sites for mobile or manufactured homes.

Eighty percent (80%) of the lots and units are owner-occupied. Overall 26% of

residents report an income of 0% to 30% AMI, 38% earn 31% AMI-60% AMI, and 36%

are 61% AMI or higher. The community also includes a stick-built duplex that was

likely built in the 1950s and will remain as rentals.

49 Western Slope City of Durango

Homesfund DPA

The City of Durango, in partnership with Homesfund, was awarded $320,900 in

CDBG funds to extend an existing down payment assistance program contract.

This funding will enable 36 additional down payment assistance to be delivered.

50 Western Slope Homeward Bound

of the Grand Valley

Shelter

Homeward Bound of Grand Valley was awarded $275,559 in ESG-CV funds to

support the rehabilitation of their existing shelter with 148 beds to a non-

congregate model in order to prevent, prepare for, and respond to coronavirus.

51 Western Slope Benni’s House Karis was awarded $98,104 in HSP funds to rehabilitate Benni’s House, one of two

properties that make up their Transitional Living Program for homeless youth in

Mesa County. Benni’s House is a 5-bedroom, single story house with a basement,

2 bathrooms , a kitchen, a living room, a sun room, a front yard and a fenced-

in backyard. The project provides housing for ve unaccompanied, homeless

youth, ages 16 to 22. The rehabilitation will include replacing kitchen cabinets,

countertops, and appliances, replacing windows, remodeling bathrooms, rewiring

the house, and repainting the interior.

52 Western Slope Matthew’s House Karis was awarded $125,722 in HSP funds to rehabilitate Matthew’s House, one

of two properties that make up their Transitional Living Program for homeless

youth in Mesa County. Matthew’s House is a 4-bedroom, one-story house with

a basement, 2 full kitchens , 2 bathrooms , 2 living rooms , a small front yard

and large fenced-in backyard, with a garage at the back of the property. The

project provides housing for unaccompanied, homeless youth, ages 16 to 22.

The rehabilitation will include replacing doors, remodeling the kitchens and

bathrooms, and repainting the interior. Karis also plans to convert the garage

into a separate 2-bedroom unit, increasing the number of homeless youth they’re

able to house.

Region Project Name Description

53 Western Slope Calkins Commons Montezuma County, and the Housing Authority of Montezuma County (HAMC)

was awarded $800,000 in CDBG funds for Calkins Commons in Cortez, Colorado.

Calkins Commons will be a historic preservation/adaptive re-use and new

construction project. The project involves the rehabilitation of the historic

Calkins School Building into 12 units of aordable housing (6 one bedrooms and

6 two bedrooms). In addition, two new buildings on the adjacent parcel will be

constructed consisting of 15 units each (14 one bedrooms plus 16 two bedrooms).

The project will serve households households earning from 20% to 80% AMI. The

project was awarded 9% Low-Income Housing Tax Credits in the 2019 .

54 Western Slope Ute Mountain Tribal

Home Improvement

Program

The Ute Mountain Ute Tribal Government was awarded $300,000 in HDG funds for the

continuation and expansion of their Ute Mountain Ute Tribe Home Improvement Pro-

gram (UMUT HIP) in Towaoc, Colorado. The program arose as a result of the tribe being

awarded funds in 2015 for the 5-year Tiwahe Initiative, to promote self-governance and

develop a coordinated system of delivery of services for tribal members. Between 2016

and 2018, the tribe completed a Comprehensive Master Plan, led by an intergenera-

tional team of elders and youth, tribal leaders, architects and community development

experts.

The funding for the initiative was used to implement after-school programs for youth,

promote behavioral health services, and start a housing rehabilitation program.

A needs assessment of the two oldest quadrants of Towaoc found a high percentage

of homes in varying states of disrepair. Many homes were unlivable, causing numerous

families to occupy a single home, with even some occupied homes being marginally

livable. The tribe started the home improvement program in 2016 and, to date, has com-

pleted renovations on six homes. The initial funds allocated from the Tiwahe Initiative

to the home improvement program have been exhausted. Both CHFA and the Colorado

Health Foundation have committed to $300,000 each to infuse the program with more

funds, and with an award from the Division of Housing, it is expected that 10-18 homes,

possibly more, could be completed. Renovations per home will be limited to $75,000,

with the average expected to be about $50,000.