On Wednesday, April 1, 2009, the Colorado Housing and Finance Authority's Tax Credit Committee completed round one of its competitive allocation process, after reviewing the 21 applications it had received. Those applications were requesting a total of $19,754,860 in annual low income housing tax credits.

Reservations were awarded to six projects, totaling 401 units and $4,201,111 in annual credit. Recipients are composed of:

• Four new construction projects and two Section 8 acquisition/rehab projects;
• Four projects serving low income seniors in Pueblo West, Colorado Springs, Lakewood, and Denver;
• Two projects serving low income families in Denver and Longmont.

The affordability mix included: 20 units at 30% AMI, 51 units at 40% AMI, 167 units at 50% AMI and 160 units at 60% AMI.

The Committee elected to reserve credits in excess of the $3,600,000 of annual credit set aside for round one. The remaining $7,698,889 in annual credit for 2009 reservations will be set aside as follows: $3,299,445 for round two and $3,299,444 for round three and $1,100,000 for the HOPE VI project.

For additional information about the recipients, please review the 2009 Status Report on the CHFA website.

Please send any comments or questions to Tasha Weaver at tweaver@chfainfo.com.