Proposition 123:

Program Updates

July 18, 2023

The Colorado Affordable Housing Financing Fund supports land banking, equity, and concessionary debt for affordable housing.

Land Banking Program Letters of Intent Accepted Starting Today

Starting today, July 18, 2023, CHFA will begin accepting letters of intent (LOIs) for the Land Banking program administered through the Colorado Affordable Housing Financing Fund established by Proposition 123. The Land Banking program provides grants to eligible local or tribal governments and forgivable loans to eligible nonprofits for the purposes of acquiring and preserving land for affordable rental and for-sale housing.

Full Program Details

Letter of Intent Process and Timeline

To be eligible to apply for the Land Banking program, a Letter of Intent (LOI) must be submitted to CHFA prior to the submission of an application. LOI submission closes on August 21, 2023, at 11:59pm. On September 11, 2023, LOI respondents will be notified on next steps and whether there will be a competitive or rolling application process, which will be dependent on demand.

Submit LOI

Please note that completion of the Proposition 123 Local Government Affordable Housing Commitment is not required for LOI submission. However, a Proof of Commitment submission will be required at time of application. Learn more about the commitment on DOLA’s website.

After submitting an LOI, a receipt and welcome message from Procorem, CHFA’s document management software, will be sent via email. The email will come from prop123landbanking.coloradohousingandfi@mail.procorem.com; if you add this email to your “safe senders” list in your email account, it will ensure the email will show up in your inbox instead of your spam folder.

Land Banking Program Webinar on July 25

Prospective applicants are invited to join us for a webinar on Tuesday, July 25th, from 1:00pm to 2:00pm for review of the Land Banking program guidelines, including some updates made due to stakeholder feedback; the LOI process; and application preparation tips.

Please Note: The meeting will be recorded by the presenter. If you do not want to participate in a recorded meeting, please do not connect to the call. A recording will be available for viewing in the future on OEDIT's and CHFA's websites. Please be advised that as a political subdivision of the state of Colorado, CHFA is subject to the Colorado Open Records Act, which requires CHFA to permit inspection and copying of certain public records. The recording may be subject to the Act. Please do not share any confidential information if you join the call.

Program Details

The Land Banking program is a component of the Colorado Affordable Housing Financing Fund established by Proposition 123 and provides grants to eligible local or tribal governments and forgivable loans to eligible nonprofits with a demonstrated history of providing affordable housing.

Funds must be used to acquire and preserve land for affordable rental housing or affordable homeownership. Mixed use may be allowed so long as the predominate use is affordable housing.

Contact

ColoradoAffordableHousingFinancingFund.com

AHFF@chfainfo.com

With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority does not discriminate on the basis of race, color, religion, sex, age, national origin, disability, or any other protected classification under federal, state, or local law. Requests for reasonable accommodation, the provision of auxiliary aids, or any complaints alleging violation of this nondiscrimination policy should be directed to the Nondiscrimination Coordinator, 1.800.877.2432, TDD/TTY 800.659.2656, CHFA, 1981 Blake Street, Denver, Colorado 80202-1272, available weekdays 8:00am to 5:00pm.