rental housing

Bentley Commons Hosts Grand Opening and Ribbon Cutting Celebration

CHFA took part in a grand opening and ribbon cutting celebration for Bentley Commons Apartments on Tuesday, October 7th, in Colorado Springs. Developed by GPR Properties, Bentley Commons included the acquisition and rehabilitation of 24 units as well as new construction of 168 units serving families in southeast Colorado Springs.

The development will serve households with incomes from 30 percent to 60 percent of Area Median Income (AMI). CHFA was proud to support Bentley Commons with an award of $1,000,000 in state Affordable Housing Tax Credits and $2,984,117 in federal 4 percent Housing Tax Credits. CHFA also provided a $35.4 million construction loan, of which $12.7 million will convert to a permanent CAPABLE loan, as well as a $600,000 permanent Capital Magnet Fund (CMF) loan, and a $245,000 CMF grant. Terry Barnard, CHFA Manager, Multifamily Lending, attended the celebration and delivered remarks on behalf of CHFA.

Customers

business lending

New Markets Tax Credits Allocated to La Junta Health Care Facilities

CHFA recently allocated $12 million in New Markets Tax Credits (NMTC) via the Colorado Growth and Revitalization (CGR) Fund to support Valley-Wide Health Systems in their development of two health care facilities to serve La Junta and the surrounding southern Colorado region. The facilities will help expand the accessibility of primary care, preventative care, behavioral health services, chronic disease management, and maternal and child health programs to community residents.

The development of the facilities is designed to align with the State of Colorado’s 2025-2029 Health Improvement Plan that aims to close gaps in primary and behavioral health care, support workforce development, and ensure equitable, sustainable care for vulnerable populations. Upon completion, Valley-Wide Health Systems estimates that the facilities will serve more than 7,500 unique patients annually and retain 76 full-time equivalent (FTE) jobs.

Customers

community partnerships

Philanthropy Southwest Panel

CHFA was proud to attend the Philanthropy Southwest Conference held in Colorado Springs in October. CHFA Community Relationship Manager, Southwest Colorado, Chris Lopez, joined the following individuals for a panel discussion about partnerships between Native American communities and the philanthropic sector.

• Bernadette Cuthair, Director of Planning and Development, Ute Mountain Ute Tribe

• Beverly Santicola, Executive Director, Center for Rural Outreach and Public Services, Inc.

• Khan Nguyen, Senior Officer, Impact Investing, The Colorado Health Foundation

• Lucille Echohawk, Founding Chair, Board of Directors, Native American Housing Circle

• Virgina Ortiz, Interim Executive Director, Native American Housing Circle

  The session included discussions about how to build trusted relationships with Native American Tribes and organizations, as well as how philanthropic investment has been used to leverage state and federal funds.