Proposition 123:

Program Updates

February 13, 2024

Modular Finance Awards

CHFA and OEDIT are proud to announce the awards for the Proposition 123 Modular Finance Program and the Innovative Housing Incentive Program (IHIP). These two programs were created to provide financing for innovative housing manufacturers. Innovation is key to addressing the state’s affordable housing need, and these programs create additional housing units while increasing employment opportunities for Coloradans, ultimately supporting strong communities.

After careful review, CHFA and OEDIT selected eight modular housing manufacturers located across Colorado to receive financing. Six applicants will receive a total of $18M from the Proposition 123 Modular Finance Program, and four applicants will receive a total of $20M from IHIP. Collectively, the companies are projected to create 1,280 jobs.

Proposition 123 Modular Finance Awards

• Adoba
• Azure Printed Homes
• Fading West
• Huron Components
• Timber Age
• Vederra

View additional details about the Modular Finance awards here.

IHIP Awards

• Guerdon
• Huron Components
• Vederra
• VillaLife

View additional details about the IHIP awards here.

The initial determinations and final selected applicants were evaluated against the following criteria in addition to directives in the Governor’s Executive Order from August 21, 2023, where applicable:

• Number of units anticipated to be produced per year
• Number of total affordable units produced per year
• Size of the request
• Economic impact or jobs created
• Applicant experience and track record
• Readiness to proceed/Estimated date to produce units

Details about both programs are available on the CHFA website. If you have questions, please contact the Innovative Housing team.

Updates regarding future funding for Proposition 123 Modular Finance available later this year will be announced soon, and CHFA invites those interested to apply at that time.

We are excited to continue to implement Proposition 123 programs and help to meet the affordable housing needs of Colorado.

Contact

ColoradoAffordableHousingFinancingFund.com

AHFF@chfainfo.com

With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority prohibits unlawful discrimination against applicants or employees on the basis of age 40 years and over, race, sex, sexual orientation, gender identity, gender expression, color, religion, national origin, disability, military status, genetic information, marital status or any other status protected by applicable 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.