Proposition 123:

Program Updates

September 18, 2023

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

Proposition 123 Concessionary Debt Application Submission Period is Open

Starting today, Monday, September 18th, applications for the Proposition 123 Concessionary Debt program are being accepted. This acceptance period will remain open until October 9th. Following the application period, awards will be announced in January 2024.

Application documents and instructions are available for each of the three loan options listed below. Please click each link to visit the loan option page, where you will find details and guidelines along with how to apply.

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

September 18, 2023	CHFA will begin accepting applications.
October 9, 2023	Application submission period will end at 11:59pm MT.
January 2024	CHFA will announce projects selected to receive Concessionary Debt funds.

Projects applying for funding from the Concessionary Debt program must be located in a jurisdiction that has completed a Proposition 123 Local Government Affordable Housing Commitment with the Colorado Department of Local Affairs − Division of Housing. Click here to learn more on DOLA’s website. View jurisdictions that have filed 2023 Commitments.

Questions about the Concessionary Debt program may be submitted to concessionarydebt@chfainfo.com, and more information about the program is available on the Affordable Housing Financing Fund website.

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.