Media Contact: Natriece Bryant, Deputy Executive Director | 303-241-8364
The U.S. Department of Housing and Urban Development awarded
$1.4M in Veterans Affairs Supportive Housing (VASH) funding to the Colorado Department of Local Affairs’ (DOLA) Division of Housing (DOH) in December 2019 to house homeless veterans.
In January, DOH awarded $4.25M to address Colorado’s affordable housing needs at the State Housing Board meeting - $1.75M for new rental developments and $2.5M for homeownership revolving loan assistance programs.
DOH awarded a $772K grant for Maxfield Heights, a 50-unit senior housing development in Rifle, Colorado. Rentals are for people 55 or older making 30 – 60 percent of the Average Median Income (AMI), with 13 units reserved for people with disabilities. The building is within a mile of the Garfield County Public Library, Rifle Senior Center, a grocery store and other retail.
In addition, DOH awarded Douglas County Housing Partnership (DCHP) funding to support 23 Down Payment Assistance (DPA) loans, and Chaffee County funding for their DPA program to assist six households below 80 percent of the AMI in becoming first-time homebuyers.
DOH awarded a $975K loan to The Overland Property Group for a 114-unit, six-building property called The Reserves at Green Valley Ranch for renters making 30 – 80 percent of the Area Median Income (AMI). The project will include a community garden, fitness center and resides near trails and public transportation.
As part of the expansion of the DOH DPA program that serves households making up to 100 percent of the AMI in rural areas, DOH awarded funds to Summit County for 15 households. Additional awards were made to the San Luis Valley Housing Coalition (SLVHC) for six families across Alamosa, Costilla, Conejos, Mineral, Rio Grande, and Saguache counties; and, La Plata County for 22 families across Archuleta, Dolores, La Plata and Montezuma counties.
Two new agencies received funds to serve new homebuyers. Gunnison Valley Regional Housing Authority (GVRHA) was awarded funds to serve 10 families, and the Northern Colorado Down Payment Assistance (NoCo DPA) Fund was awarded $1.4M for a DPA loan program to serve 50 families across Larimer and Weld Counties.
“We are honored to continue our work helping homeless veterans in Colorado with the addition federal funding received from HUD,” stated DOLA Executive Director Rick Garcia. “In addition to the state funding being awarded to address affordable housing needs across Colorado, we will continue our efforts to provide sustainable, affordable and safe housing for all Coloradans.”
The State Housing Board and DOLA’s Division of Housing continue to support the creation of an affordable housing that is accessible, safe and secure for all Coloradoans. For complete information on Housing Board grant approvals, visit https://cdola.colorado.gov/state-housing-board.