Proposition 123:

Program Updates

January 31, 2024

Land Banking Awards

CHFA and OEDIT are proud to announce the Affordable Housing Financing Fund Land Banking awards. After careful review, CHFA and OEDIT have selected the following 16 applicants, awarding $25.34 million of program funds to acquire or preserve land for affordable rental and homeownership units across the state.

• Archway Investment Corporation
• Blue Spruce Habitat for Humanity
• Chaffee Housing Authority
• City of Grand Junction
• City of Salida
• Denver Cultural Property Trust
• Elevation Community Land Trust
• Habitat for Humanity (Grand County)
• Housing Catalyst
• Huerfano County Economic Development
• Langston Hughes Affordable Housing
• SAFER Colorado
• The Housing Authority of The City of Aurora
• Town of Frisco
• Town of Rangely
• WeFortify

View additional details about the awards here.

CHFA received 113 Letters of Intent (LOI) to Apply totaling more than $255.8 million in fund requests. Given the overwhelming demand, CHFA and OEDIT invited 26 applicants to apply, representing $46.9 million in requests; 21 applications for $38.8 million were received.

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

1. Readiness to proceed (shovel ready)
2. Development Plan status
3. Financial feasibility
4. Geographic distribution
5. Dollar amount of request
6. Total number of units proposed

Updates regarding funding for the Land Banking program available in 2024 will be announced soon, and CHFA invites those interested to apply at that time.

Click here to learn more about the Land Banking program and program guidelines. For more information, or if you have questions, please contact CHFA at landbanking@chfainfo.com.

We are excited to continue to implement Proposition 123 programs and to help 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.