[bouldercouncilhotline] Hotline: Summary of Meeting with Colorado Housing and Finance Authority (CHFA)

[cmosupport at bouldercolorado.gov]

Sender: Young, Mary

Dear Colleagues, Staff and Hotline Followers,

Last week, Council member Morzel and I met with the Executive Director and CEO, Chief Operating Officer and a Board Member of the Colorado Housing and Finance Authority. We had two items on the agenda: 1. Low Income Housing Tax Credit Process and 2. Exploration of Housing on a portion of the Boulder Municipal Airport.

Below is a meeting summary.

Low Income Housing Tax Credit (LIHTC) Process:

1. Council members Morzel and Young described recent issues with LIHTC projects facing increased public opposition whose root cause could be a mismatch between timing of LIHTC funding applications and community outreach. We agreed that successful CHFA projects, and developments in general, should begin with developer and city outreach to and input from the public as a first step in order to formulate a vision with broad consensus prior to the developer applying for a specific CHFA grant.

2. CHFA representatives, Jaime Gomez (Chief Operating Officer), Cris White (Executive Director and CEO) and Cec Ortiz (CHFA Board Member) stated that they have been hearing about similar issues from other communities in Colorado. There was consensus that community support prior to funding was critical.

3. We discussed what may occur if an applicant, who has received CHFA funding for a specific proposal with a specific number of units, is denied entitlement through the public process due to community opposition. As we understand it, it is possible that CHFA takes back the credit award and the credits go back into the overall pool, but that the original recipient could re-apply for the next annual round of competitive grants. That same project may have a good chance of receiving funding given that the proposal had previously received an award based on its merits, especially if public support for the project can be increased. However, since it is a competitive process and new projects apply for tax credits each time, there is no certainty or given that the project will receive an award in the next round.

In response to these concerns CHFA will follow-up with information on how the process currently works and what might be changed, specifically:

a. Identify who, within the city organization, currently receives the notification that an applicant has applied for tax credits (for a project in Boulder).

b. Discuss having a broader distribution of the letter that notifies municipalities that a developer is applying for tax credits within their jurisdiction. This could include current recipients, the housing department, city manager, and the community/neighborhood residents in proximity of the proposed development.

c. Identify additional ways in which the process could be improved.



Municipal Airport

1. Council member Morzel described the characteristics of the Boulder Municipal Airport and a vision for housing on part of the 138-acre site: a land bank model with manufactured housing owned by the residents.

2. The possibility of a site focused on manufactured housing was an intriguing idea to CHFA representatives. They expressed interest in having more conversations around potential CHFA involvement.

3. CHFA representatives shared that they recently worked with a developer that specializes in energy-efficient manufactured housing and will make an introduction and/or arrange a meeting for him to meet with us. CHFA is looking for a community to partner with in order to develop a manufactured home model for the state.

4. Council members Morzel, Young, and CHFA representatives agreed to have a follow-up meeting, perhaps in Boulder, and include the city's housing director and perhaps other non-profit housing providers to discuss the potential for such a collaboration.

We are grateful for the meeting, their time and look forward to continuing this discussion.

Thank you.


Mary Dolores Young
Boulder City Council
303-501-2439

"All ethics . . . rest upon a single premise: that the individual is a member of a community of interdependent parts . . ." - Aldo Leopold