2008 Status Report

On Thursday, September 18, 2008, the Colorado Housing and Finance Authority’s Tax Credit Committee completed its review of applications submitted in round three of the Competitive Low-Income Housing Tax Credit Allocation process. The Committee reviewed 19 applications from around the state, totaling $16,236,798 in annual credit requests.

In round three, reservations were awarded to four projects, including:

• Three new construction projects and one acquisition/rehab development (with a combined total of 236 units);
• Two projects supporting low-income families in the Denver metro area;
• One project supporting low-income families in the Fort Collins area; and
• One project supporting low-income families in the Cortez area.

The affordability mix of the projects includes 13 units at 30% Area Median Income (AMI), 71 units at 40% AMI, 95 units at 50% AMI and 56 units at 60% AMI.

In addition to the third round allocation, two tax credit reservations were awarded using the additional 2008 credit approved by Congress as part of the Housing and Economic Recovery Act legislation (H.R. 3221). The legislation made up to $972,000 in additional annual credit available, of which $905,370 was used to support two special needs projects – one serving adult youth transitioning from foster care in north Denver, and one serving homeless persons in the Five Points area of Denver. The affordability mix of these two projects includes 28 units at 30% AMI, 10 units at 40% AMI and 16 units at 50% AMI.

For additional information about the recipients, please review the 2008 Status Report on the CHFA Website.


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