Proposition 123:

Program Updates

November 20, 2025

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

looking up to the sky above a colorful building

Concessionary Debt Round Opens Today

Starting today—Thursday, November 20, 2025—applications and supporting materials will be accepted for the Proposition 123 Concessionary Debt Multifamily Finance, LIHTC Gap Finance, and LIHTC Predevelopment Finance loan options. The application period will close on Thursday, December 18, 2025, at 5:00pm MT. Details, including complete program guidelines, are available on the Affordable Housing Financing Fund website


The Concessionary Debt program provides loan options to for-profit, nonprofit, local governments, and tribal government entities to support affordable housing investment, including:


  • Multifamily Finance: Debt financing for the development and preservation of low- and middle-income multifamily rental developments
  • LIHTC Gap Finance: Gap financing in the form of subordinate debt for Low Income Housing Tax Credit (LIHTC) projects
  • LIHTC Predevelopment Finance: Gap financing in the form of predevelopment loans for LIHTC projects

November 20, 2025



CHFA will begin accepting applications.

December 18, 2025



Application submission period will end at 5:00pm MT.

January 2026



CHFA will announce projects selected to receive Concessionary 
Debt funds.

Please see the Affordable Housing Financing Fund website for more information. Questions about the Concessionary Debt program may submitted to Concessionarydebt@chfainfo.com

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 MT.