CHFA Announces 2018 Round Two Low Income Housing Tax Credit Awards
DENVER, CO – Colorado Housing and Finance Authority (CHFA) is pleased to announce the Low Income Housing Tax Credit (LIHTC) awards for the second and final allocation round of 2018. CHFA is the allocating agency of federal and state LIHTC in Colorado. In this round, 33 applications requesting $35.9 million in 9 percent federal LIHTC were received.
CHFA is awarding $17,128,412 in 9 percent federal LIHTC to sponsors of 15 developments, which will support the new construction of 814 affordable rental housing units in Colorado. Earlier this year, in recognition of the severe housing crisis facing the nation, Congress approved a temporary increase to the amount of 9 percent federal LIHTC available for states to allocate. In Colorado, that increase has resulted in $2.1 million more cap available for allocation in 2018. This increase helped CHFA support two additional developments, or 181 more affordable rental housing units, this year compared to 2017. This temporary increase will be available each year through 2021.
The following developments have been awarded federal LIHTC from CHFA. Full descriptions may be viewed here.
Alpenglow Village, Steamboat Springs
Gateway North and South, Denver
Garden Walk of Gunnison, Gunnison
Kappa Tower II, Denver
Karis Permanent Supportive Housing Apartments, Grand Junction
Libretto Senior II, Brighton
Mason Place, Fort Collins
Mirasol III, Loveland
Mission Village of Evans, Evans
River Bend Residences, Idaho Springs
Sage Corner, Lakewood
Senior Residences at Three Springs, Durango
Tungsten Village, Nederland
Uplands Townhomes Phase II, Pueblo
Veterans Renaissance Apartments at Fitzsimmons, Aurora
CHFA strengthens Colorado by investing in affordable housing and community development. Created in 1973, CHFA invests in loans to low- and moderate-income homebuyers through our network of participating lenders, and makes loans to affordable multifamily rental housing developers and small and medium sized businesses. CHFA also provides education and technical assistance about affordable housing and economic development. CHFA is a self-sustaining public enterprise. CHFA issued debt is not the obligation of the state. For more information about CHFA please visit www.chfainfo.com, call its Denver office at 1.800.877.chfa (2432), or its Western Slope office at 1.800.877.8450.