The Funding Sources Inventory tool allows you to search a database of funding sources created for this guide to determine which may be relevant to consider for your development. Use the filters at the top of the page to narrow down the list of possible sources based on the characteristics of your development. The funding sources shown in the list at the bottom will be those that match at least one of the criteria from each of the filter categories you have selected (in other words, the filters use OR logic within each filter category and AND logic across filter categories). Review the remaining list to learn more about each program. You can click the “Details” button to display detailed information about each funding source.
Eligible UsesInclude funding that can be used for:
The Low-Income Housing Tax Credit provides an incentive for investors to invest in affordable housing construction and preservation via a tax credit. It is available as a competitive credit (9%), scored based on criteria in CHFA's Qualified Allocation Plan, or a non-competitive credit (4%), available to any project that receives at least 50 percent of their funding through tax-exempt bond financing (e.g. Private Activity Bonds) may claim this smaller tax credit without receiving a specific allocation from CHFA.
Colorado State Housing Tax Credits
Modeled after the federal LIHTC program and authorized through 2031, this credit helps raise private sector equity to develop affordable rental housing. The state and federal tax credits are awarded on a competitive basis by CHFA through its Qualified Allocation Plan. In general, the State Housing Credit's allocation process and eligibility follows the federal tax credit (with exceptions noted in the Qualified Allocation Plan).
Housing Development Loan Fund (HDLF)
This program makes loans for development, redevelopment, or rehabilitation of properties serving low- and moderate-income households. This program was created to meet federal matching funding requirements and loans made through this program require collateral.
Colorado Housing Investment Fund (CHIF)
CHIF, which was created from mortgage settlement funds, is a revolving loan fund designed to address Colorado’s need for affordable rental housing. Funding can be used by eligible borrowers in two ways: 1) short term, low interest loans to bridge permanent financing sources; and 2) short term loan guarantees for new construction and rehabilitation.
National Housing Trust Fund (HTF)
The National Housing Trust Fund provides Colorado with grant funding to increase and preserve affordable housing for extremely low-income households, those earning at or below 30% AMI. HTF dollars are awarded annually based on a formula to the Department of Local Affairs, who in turn sets priorities for their use across the state in its HTF Allocation Plan and solicits for applications to award this funding.
Private Activity Bonds (PABs)
Private activity bonds enable local and state governments to finance private development projects. The Colorado Department of Local Affairs (DOLA) allocates a portion of its annual bonding authority directly to statewide authorities (CHFA and Colorado Agricultural Development Authority or CADA) and local governments based on population. It retains a portions of the state's annual bonding authority ("Statewide Balance") to award for eligible projects across Colorado, including residential rental projects for low- and moderate-income households. Municipalities and housing authorities can apply for the bonding authority under the Statewide Balance PAB directly from DOLA.
Healthy Housing Rewards Initiative
The Healthy Housing Rewards Initiative offers discounted mortgage financing for new construction or rehabilitation of multifamily affordable rentals when borrowers use physical design and resident services practices to advance health outcomes. Properties must meet or exceed the minimum certification standards of the Fitwel® Certification System (operated by the Center for Active Design); certification costs (up to $6,500) are reimbursable as part of the loan.
CDBG-DR
Colorado uses its allocation of CDBG-DR funding from the federal government for a variety of housing assistance and finance programs, including disaster recovery funding for multifamily housing construction. The CDBG-DR Multifamily Housing Construction Loan provides loans for affordable rental property construction and repair, in accordance with the state's Action Plan.
Tribal Housing Activities Loan Guarantee Program (Title VI)
The purpose of the Title VI loan guarantee is to assist Indian Housing Block Grant (IHBG) recipients (borrowers) who want to finance additional grant-eligible construction or development at today’s costs. Tribes can use a variety of funding sources in combination with Title VI financing, such as low-income housing tax credits.
Indian Housing Block Grant (IHBG)
The Indian Housing Block Grant (IHBG) program is a formula grant administered by HUD. Under the program, eligible Indian tribes and tribally-designated housing entities (TDHEs) receive grants to carry out a range of affordable housing activities.
Indian Community Development Block Grant (ICDBG)
The Indian Community Development Block Grant (ICDBG) program provides direct grants for activities related to housing, community facilities, and economic opportunities, primarily for low- and moderate-income persons.
Choice Neighborhoods
The Choice Neighborhoods program leverages significant public and private dollars to support locally driven strategies that address struggling neighborhoods with distressed public or HUD-assisted housing through a comprehensive approach to neighborhood transformation. Local leaders, residents, and stakeholders, such as public housing authorities, cities, schools, police, business owners, nonprofits, and private developers, come together to create and implement a plan that revitalizes distressed HUD housing and addresses the challenges in the surrounding neighborhood. The program helps communities transform neighborhoods by revitalizing severely distressed public and/or assisted housing and catalyzing critical improvements in the neighborhood, including vacant property, housing, businesses, services and schools.
Tax-Exempt Loan
Financing for the acquisition or refinance of stabilized affordable multifamily properties with 4% Low-Income Housing Tax Credits (LIHTC) with at least 7 years remaining in the LIHTC compliance period.
Small Multifamily Permanent Loan Program (SIMPLE)
SIMPLE provides up to $3 million in uninsured permanent financing for 9 percent Housing Credit projects. With streamlined execution, you can get to loan commitment in as little as 60 days of submitting a complete application. Can be paired with CHFA's gap financing programs (e.g. CHFA Housing Opportunity Fund or Capital Magnet Fund).
Housing Opportunity Fund (HOF)
CHFA HOF provides up to $1 million in flexible gap financing, which can be paired with any of CHFA’s senior debt programs as secondary financing, used as a first mortgage loan, or as an interest rate subsidy.
CHFA Capital Magnet Fund (CMF)
CMF provides up to $750,000 of flexible gap financing for the preservation or construction of 4 percent or 9 percent Housing Credit projects located in eligible areas and serving incomes at or below 50 percent of Area Median Income.
CAPABLE Construction and Permanent Affordable Bond Loan
CAPABLE combines construction and permanent financing to provide over $6 million for 4% Housing Tax Credit projects, using a streamlined process only available to housing finance agencies. It offers some of the lowest interest rates due to index pricing associated with Private Activity Bonds, and one of the lowest mortgage insurance premiums in the industry.
PAIRABLE Partnership-to-Perm Affordable Bond Loan
PAIRABLE provides loans of over $6 million in permanent insured financing for 4% Housing Tax Credit projects, featuring some of the lowest interest rates due to index pricing associated with Private Activity Bonds. Pair this with your preferred construction financing partner to help get the deal done on time.
Partners for the Common Good
PCG is a certified Community Development Financial Institution (CDFI) that was created as a vehicle to allow socially conscious investors to put their money to work serving communities left out of the economic mainstream. PCG moves the economy forward by financing community development and encouraging community engagement.
RCAC
Founded in 1978, Rural Community Assistance Corporation (RCAC) is a 501(c)(3) nonprofit organization that provides training, technical and financial resources and advocacy so rural communities can achieve their goals and visions. RCAC financing helps developers build single and multifamily affordable housing units for low-income families.
The Low-Income Housing Tax Credit provides an incentive for investors to invest in affordable housing construction and preservation via a tax credit. It is available as a competitive credit (9%), scored based on criteria in CHFA's Qualified Allocation Plan, or a non-competitive credit (4%), available to any project that receives at least 50 percent of their funding through tax-exempt bond financing (e.g. Private Activity Bonds) may claim this smaller tax credit without receiving a specific allocation from CHFA.