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.
Historic Tax Credits (HTC)
The federal Historic Tax Credit Program (sometimes called 20% HTC) is a financial incentive to rehabilitate historic properties for income-producing uses, including rental housing. An eligible project can receive a credit for up to 20% of eligible expenses, which reduces an owner's federal tax liability. This program is administered by the National Park Service, with input from State Historic Preservation Office (History Colorado). Rehabilitation using this tax credit must meet 10 Standards for Rehabilitation.
New Market Tax Credits (NMTC)
The federal New Market Tax Credit is designed to increased investment in low-income communities for a range of economic and community development activities. These activities are financed through a network of certified financial intermediaries to make direct investments in low-income communities. This program can be used to fund residential rental property in limited instances - only if it's part of a mixed-use development where less than 80 percent of project revenues are from residential units.
Colorado State Housing Tax Credit
Modeled after the federal LIHTC program and authorized through 2024, this credit helps raise private sector equity to develop affordable rental housing. The state and federal 9 percent 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).
Colorado State Historic Tax Credit
The state historic tax credit program is a financial incentive to rehabilitate historic properties including owner-occupied and rental housing. An eligible project can receive a credit for between 20-35% of eligible expenses, which reduces an owner's state tax liability over ten years.
Community Development Block Grant (CDBG)
CDBG provides federal funding for activities that benefit low- and moderate-income households and prevent slums and blight. The Colorado Division of Housing (DOH) administers the CDBG program for municipalities that do not receive CDBG funds directly. Units of local government (including counties) that do not receive funds directly can apply to DOH through on a monthly basis; local governments may apply on behalf of nonprofits. DOH provides grants for the acquisition, rehabilitation, or installation of public facilities (e.g., sewer and water systems, commercial streetscape improvements, community centers, food banks, shelters, health clinics). Entitlement communities receive CDBG funding directly.
Home Investment Partnership Program (HOME)
HOME provides federal funding to buy, build, or rehabilitate affordable rental and homeownership opportunities and to provide direct rental opportunities to low-income households. Funding can be provided as grants, direct loans, loan guarantees or other forms of credit enhancements, or rental assistance or security deposits. HOME funding for jurisdictions that do not receive this funding directly (non-participating jurisdictions) can apply to DOH through on a monthly basis. Participating jurisdictions (PJs) receive HOME funds directly.
Housing Development Grant Funds (HDG)
HDG, supported by appropriated funds and awarded through a competitive process, provides funds for acquisition, rehabilitation, and new construction to improve, preserve or expand the supply of affordable housing, to finance foreclosure prevention activities in Colorado, and to fund the acquisition of housing and economic data necessary to advise the State Housing Board on local housing conditions.
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 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 Homes program
This program offers grants for low-cost, home hazard assessments and interventions that address environmental health and safety concerns (e.g. mold, lead, allergens, asthma, carbon monoxide, home safety, pesticides, and radon). This program expands upon HUD’s other environmental safety programs focused on lead hazard reduction.
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.
USDA food distribution resources
USDA offers several food distribution resources to combat food insecurity, including the Food Distribution Program on Indian Reservations (which ships USDA Foods to eligible households), the Commodity Supplemental Food Program (which provides USDA Foods to low-income persons aged 60 years or older to supplement their diet), and the Emergency Food Assistance Program (which provides no-cost emergency food assistance to low-income households). The Food Distribution Program on Indian Reservations and Commodity Supplemental Food programs are administered by either an Indian Tribal Organization or state government agency, and they provide USDA Foods and funding for administration. The Emergency Food Assistance Program is administrated by states, providing food directly to households and local nonprofit organizations.
Colorado Fresh Food Financing Fund
The Colorado Fresh Food Financing Fund offers grants and loans to create new or improve existing food retail access across Colorado. Residential-only projects are not eligible, but mixed-use projects with a residential component and a food retail component could be eligible.
Colorado C-PACE
The Colorado Commercial Property Assessed Clean Energy Program (C-PACE) provides financing for clean energy upgrades in new or existing properties. Upgrade costs are repaid through future property tax assessments (after the property is already experiencing the cost savings from the upgrades). It can be used to finance a range of energy efficiency and renewable energy improvements and related expenses at multifamily (5+ units) properties (among others).
Energy Smart Colorado
Energy Smart Colorado serves as a clearinghouse for energy rebates for eligible homeowners and businesses, along with recommendations for energy efficiency upgrades, plus contractors and financing you can use to implement them. Homeowners and commercial property owners can directly apply for a range of energy efficiency rebates through Energy Smart Colorado's website. It also has financing for commercial property owners (Colorado C-PACE) and residential homeowners through the Colorado Residential Energy Upgrade (RENU) Loan program.
Energy Outreach Colorado
Energy Outreach Colorado offers funding and services to assist with the purchase and installation of energy efficient equipment (Nonprofit Energy Efficiency Program); weatherization of affordable multifamily properties (Affordable Housing Weatherization Program); and multifamily utility rebates (Affordable Housing Rebate Program).
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.
FEMA funding to Colorado
The Federal Emergency Management Agency (FEMA) offers grants to mitigate hazards and increase resilience through a series of programs (Hazard Mitigation Loan Program for activities like structural retrofits; installation of mitigation features; and housing acquisition; Flood Mitigation Assistance for activities that reduce or eliminate flood risks) before and after a disaster. Some resources are available on a competitive basis throughout the entire state, while others are only available in declared disaster areas (see link).
Disaster Loan Assistance (US SBA)
The Small Business Administration offers low-interest loans to businesses, nonprofits, homeowners, and renters located in regions affected by declared disasters via their Disaster Loan Assistance program. Loans can cover costs associated with homeowners' primary residence; renter's real property; and repair and replacement of real property for eligible rental property owners.
USDA 515 Program
The USDA 515/Multi-family Housing Direct Loan Program provides competitive direct loans to finance multifamily rental housing that services low-income families and elderly or disabled individuals. Rental assistance for individuals and households living in properties financed with 515 is also available.
USDA 514/516 Program
The Farm Labor Housing Direct Loans and Grants Program provides direct loans and grants to finance affordable housing for year-round and migrant or seasonal domestic farm laborers (housing may be constructed in urban or rural areas, so long as need is demonstrated). Rental assistance for individuals and households living in properties financed with 514/516 is also available.
USDA 538 Program
The USDA 538 Program aims to increase the supply of affordable rental housing for low- and moderate-income households in rural areas. It provides loan guarantees to private-sector lenders for borrowers who cannot obtain the commercial financing with the guarantee. This program can be used in conjunction with the Low-Income Tax Credit, but does not need to be used for housing affordable to low-income households exclusively. Applications are accepted annually.
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.