celebrating 40 years of financing the places where people live and work
1974-1979 history of chfa

1974  

General Assembly passes enabling legislation, sets bonding authority, provides seed money in 1973 enabling Executive Director Walter Kane to be appointed as Executive Director by Board of Directors in 1974.

1975 Issues $28 million in bonds and launches the Loans-to-Lenders home purchase program. By the end of 1976, CHFA has grown its network of participating lenders from seven to 18 and served 1,390 households.
1976 Repays State first $50,000 of $300,000 seed money.
1977 Dave Herlinger is appointed Executive Director by CHFA’s Board of Directors following the resignation of Walter Kane.
CHFA issues its first bond to support permanent financing of multifamily housing. Following the Big Thompson flood in Loveland, CHFA partners with the Colorado Division of Housing to finance housing for elderly survivors. The result is the construction of Silverleaf II Apartments.
1978 CHFA has served 7,000 households since inception. CHFA’s participating lender network grows to 30, including eight lenders on the Western Slope.
1979 The federal government proposes to eliminate Mortgage Revenue Bonds due to nationwide abuses in several cities and counties. CHFA actively works with the Council of State Housing Agencies (CSHA) to develop alternate financing techniques and new programs to support multifamily housing.
Dave Herlinger elected President of CSHA.
1980 - 1989 history of chfa
1980 Establishes loan program for homeowners with disabilities.
Makes final payment to the State of Colorado in the repayment of the $300,000 in funds that the State advanced to CHFA in 1974 and 1975 to begin operations. CHFA was not legally required to repay these funds.
1981 Counties served by CHFA’s single family and multifamily programs represent over 95 percent of the state’s population. CHFA continues to bring new investment into Colorado with 85 percent of bonds and notes issued sold to out-of-state investors.
1982 Colorado General Assembly authorizes CHFA to engage in commercial finance.
1983 Celebrates 10th anniversary.
1984 The Council of State Housing Agencies presents CHFA with an award for best meeting Congress’ intent to serve low and moderate income homebuyers before those of higher-income homebuyers. U.S. Senate Majority Leader Robert Dole wrote to governors across the nation, holding up CHFA’s program as an example for other states to follow.
Launches the Quality Investment Capital (QIC) program in partnership with Colorado’s State Treasurer, the Small Business Administration, and Colorado lending institutions to provide small business finance.
1985 Launches the Industrial Expansion Capital Program (INDEX) and Colorado Export Credit Insurance programs. Combined with CHFA’s QIC program, these efforts make over $12 million available to Colorado businesses.
1986 Publishes the Colorado Housing Need Analysis study and
A Study of Small Businesses in the Colorado Economy. CHFA holds two symposia to inform public and private sector leaders on study results and develop long-range solutions. Governor Roy Romer keynotes both events. As part of the results, the Colorado Affordable Housing Coalition is created to “promote the provision of adequate, safe, and affordable housing for all Coloradans.”
1987 Multifamily team makes the first allocations authorized under the new federal Low Income Housing Tax Credit (LIHTC) program. CHFA allocates 95 percent of LIHTC available, making it among the top nationally for maximum use of the new program.
Creates the Asset Management Division.
1988 Rental Acquisition Program (RAP) and Supportive Services Program (SSP) created.
National Council of State Housing Agencies honors CHFA with an award for addressing special needs housing in recognition of the organization’s response to the housing needs of elderly, disabled, and others.
American Society of Public Administration names CHFA the 1988 Equal Opportunity agency of the year.
Receives a Robert Woods Johnson Foundation grant to assist senior housing development owners and managers in investigating methods of expanding and improving social and daily living services for residents.
1989 Moves to current location at 1981 Blake Street.
1990 - 1999 history of chfa
1990 Creates Housing Opportunities Fund, and supports two homeownership program applications in the first year: a foreclosure prevention loan program sponsored by Colorado Housing Assistance Corporation, and a Homeless to Homeownership program sponsored by Northeast Denver Housing.
Makes a bulk purchase offer to the Resolution Trust Corporation for rental property acquisition and rehabilitation.
1991 Launches down payment assistance program.
Partners with Limon Housing Authority and DOLA to develop rental housing following the Limon tornado and the location of a new state prison. CHFA’s team serves as the developer, construction manager, and financier.
1992 Partners with the City of Denver to revitalize the Denver Dry Goods building into retail, office, and rental housing complex. The organization is sought out to provide technical expertise to four other states seeking to replicate CHFA’s Access Coordinator for the Elderly (ACE) and Supportive Services programs.
1993 Congress permanently extends Mortgage Revenue Bond (MRB) and LIHTC programs.
CHFA’s Resolution Trust Corporation purchases end with over 30 properties acquired by CHFA over a three-year period.
The Colorado Credit Reserve is launched to support small business loans in the amount of $100,000 or less.
The Colorado General Assembly amends CHFA’s statute to establish a new loan program targeted to firms engaged in waste diversion and recycling activities.
1994 Celebrates 20th anniversary.
1995 CHFA has issued $2.8 billion in securities since inception. Proceeds benefit 29,068 single family households and support the creation of 23,487 rental housing units. Additionally, CHFA has provided $130 million in financing to 643 small businesses, supporting 9,800 jobs.
Launches the RENEW loan program to serve businesses involved in waste diversion and recycling, with $1.6 million in loan commitments made in the first full year of operation.
Energy Rated Homes of Colorado launches for the purposes of advancing energy efficiency measures in homes.
1996 CHFA’s business lending team launches its new Nonprofit Real Estate Loan and Business and Industry programs. The FDIC recognizes Asset Management staff for outstanding administration of the Resolution Trust Corporation program.
1997 The Colorado Economic Development Commission approves an additional $250,000 for the Colorado Credit Reserve program.
Asset Management team is again recognized as one of the top administrators of the Resolution Trust Corporation program in the nation.
1998 Designated a Participating Administrative Entity by HUD, giving CHFA the role of restructuring FHA-insured mortgages on properties with expiring Section 8 contracts.
1999 Develops HomeConnectionsm, an internet reservation system that will be used by CHFA single family lender partners.
Develops homebuyer education program, providing a consistent curriculum for housing counselors across the state.
Submits a bid to serve as HUD’s Section 8 Housing Assistance Contract Administrator for all properties in Colorado.
2000 - 2009 history of chfa
2000 Appointed fiscal agent for a new Brownfields Revolving Loan Fund. The effort involves five cities seeking economic revitalization through clean-up of previously contaminated commercial sites for future development.
Awarded the Section 8 Housing Assistance Payment Contract Administrator position by HUD.
Dave Herlinger retires as Executive Director. CHFA has served over 250,000 Colorado households since the organization’s inception, and issued more than $4.6 billion in securities.
2001 Roy Alexander appointed Executive Director and CEO by Board
of Directors.
Receives national award of excellence from the National Council of State Housing Agencies for HomeAccesssm program.
Habitat for Humanity loan purchase partnership is developed.
2002 Finances largest affordable housing transaction in Colorado and largest Section 8 preservation deal in the nation.
2003 Sets new annual production record of $658 million.
Consolidates the rental and business finance operations into the Commercial Lending Division.
Since 1982, total business finance production stands at $416 million, impacting 24,099 jobs.
Loan Servicing Division combined with Home Finance Division.
2004 Celebrates 30th anniversary.
Partners with Metro Mayors Caucus to form a $53 million pool of financing available for affordable rental housing development at Transit Oriented Development (TOD) sites.
J. David Barba Golf Tournament donates $54,000 to Colorado Coalition for Homeless.
2005 Completes construction of Community Conference Center and Customer Care Center at Blake Street office.
Launches website, chfainfo.com
Partners with DOLA, City and County of Denver, and USDA Rural Development to launch ColoradoHousingSearch.com, a one-stop online shop for information on affordable rental housing and
for-sale homes.
CHFA launches vision to double the number of households served by 2009.
2006 CHFA’s Western Slope office in Grand Junction opens.
REACH (Resources, Education, and Assistance for Colorado Housing) program created to provide training for owners, managers, and onsite rental housing staff.
Colorado Growth and Revitalization Fund created in partnership with City and County of Denver and Colorado Enterprise Fund. $40 million in New Markets Tax Credit allocation received.
CHFA becomes premier sponsor of Housing NOW! Conference.
2007 A new brand and logo is introduced to reflect CHFA’s mission to finance the places where people live and work in Colorado.
CHFA works to strengthen partnerships with Colorado Bankers Association and Independent Bankers Association.
2008 Congress passes HERA (Housing and Economic Recovery Act), which provides additional Private Activity Bond and LIHTC resources. The legislation also creates the Neighborhood Stabilization Program, the National Affordable Housing Trust Fund, and a $7,500 tax credit for first time homebuyers.
CHFA receives two grants totaling $3.2 million from NeighborWorks America to support free HUD-approved housing counseling for Coloradans at risk of foreclosure.
Colorado Growth and Revitalization (CGR) Fund awarded its second allocation of New Markets Tax Credits, totaling $35 million.
2009 ARRA (American Recovery and Reinvestment Act) is passed by Congress, creating the Tax Credit Assistance and Tax Credit Exchange programs.
CHFA forms partnership with Ginnie Mae to support new CHFA HomeOpenersm and HomeOpener Plus home finance programs.
Home Finance team launches CHFA JumpStartsm loan program to help Coloradans take advantage of the federal first time homebuyer tax credit as an advanced second mortgage loan with zero percent interest.
CHFA creates a statewide Mortgage Credit Certificate (CHFA MCCsm) program utilizing private activity bond allocation authority.
CHFA participates in New Issue Bond Program created as part of President Obama’s Homeowner Affordability and Stability Plan.
Colorado Credit Reserve program is reauthorized by the Colorado General Assembly with a $2.5 million appropriation. The Colorado Office of Economic Development and International Trade contracts with CHFA to administer the program.
CHFA achieves 2005 vision goal to double the number of households served.
Roy Alexander retires as Executive Director and CEO.
2010 - 2014 history of chfa
2010 Cris White appointed Executive Director and CEO by Board
of Directors.
Governor’s Energy Office contracts with CHFA to administer a $13 million State Energy Program award authorized in ARRA. The funds will support a GEO Revolving Loan Fund for energy efficiency and renewable energy projects.
2011 Inaugural Housing Credit Summit is held by CHFA, bringing together LIHTC investors, developers, and affordable housing advocates in Colorado.
Homebuyer education curriculum is updated to ensure new mortgage regulations and foreclosure prevention resources are discussed as part of the training.
ColoradoHousingSearch.com website is redesigned and expanded to serve as the state’s Disaster Housing resource.
2012 Redesigns home finance offerings, introducing CHFA SmartStepsm and SmartStep Plus, which provides a 30-year fixed rate mortgage, down payment assistance, and a CHFA MCC as a single loan program.
State Small Business Credit Initiative program launches to increase small businesses access to capital, utilizing resources authorized by Congress in the Small Business Jobs Act of 2010.
Sells its last remaining four RAP properties.
Dovumuehle Mortgage, Inc., becomes CHFA’s alliance partner for the servicing of its single family loan portfolio.
Colorado Attorney General John Suthers selects CHFA to administer $5.3 million in foreclosure prevention counseling funds awarded to Colorado as part of the National Mortgage Servicing Settlement.
Cris White elected to NCSHA Board of Directors.
2013 Auburn Ridge, an affordable senior housing development in Castle Rock, receives a $4 million permanent loan using CHFA’s new
9 Percent Tax Credit loan program.
Colorado Health Foundation selects CHFA to serve as the fund administrator for the Colorado Fresh Food Fund.
CHFA receives seventh grant award from NeighborWorks America to support foreclosure prevention counseling. In total, CHFA has received $7.1 million through the program, helping over 17,000 Colorado households.
CHFA named among the Top Five Healthiest Places to Work by the Denver Business Journal in the medium-sized business category.
2014 Celebrates 40th anniversary.
40th anniversary chfa logo