The Colorado Housing and Finance Authority announced that it has approved $6.8 million in low-income housing tax credits (LIHTCs) in its first allocation round of 2014.
The seven projects allocated LIHTCs will support the development or preservation of 381 affordable housing rental units across the state. Recipients will provide needed housing in flood recovery areas and transit-oriented development, as well as seniors, farmworker, and workforce housing.
CHFA received 26 applications seeking more than $25 million in LIHTCs in the first round. Applications for the second round are due by July 1.
Developments receiving LIHTCs in the first round include:
- Caddis Flats: 30 new units of family workforce housing in Crested Butte. Gunnison Valley Regional Housing Authority in partnership with Housing Resources of Western Colorado received a tax credit award of $539,165.
- Falcon Ridge: 45 new units of affordable housing in Estes Park. Estes Park Housing Authority in partnership with the City of Loveland Housing Authority received a tax credit award of $912,694.
- Hatler-May Village: 77 new affordable housing units for seniors in Colorado Springs. Christian Church Homes received a tax credit award of $1,228,589.
- Mariposa Phase VI: 94 units of mixed-income housing in Denver. The project is the sixth phase of Denver Housing Authority’s South Lincoln Homes HOPE VI Revitalization Plan development. Denver Housing Authority received a tax credit award of $1,178,762.
- Sol Naciente: 50 units of affordable rental housing for agricultural workers in Fort Morgan. Community Resources and Housing Development Corp. received a tax credit award of $882,402.
- Town Center North Apartments: 50 units of affordable seniors housing in Wheat Ridge. Wazee Partners received a tax credit award of $965,327.
- Yale Station: 66 affordable, family workforce housing units adjacent to a light-rail station in Denver. Mile High Development and Koelbel and Co. received a tax credit award of $1,109,303.
