Colorado Housing Investment Fund

Through funding received in 2012 through a $50,000 settlement of custodial funds, $13.2 million was used to create the Colorado Housing Investment Fund (CHIF) to address Colorado’s need for affordable rental housing. In 2015, an additional $23 million in custodial funds were added to the CHIF based on the success of the Fund. The CHIF funds can be used two ways: 1) short term, low interest loans to bridge the long-term permanent financing sources (a portion of loan may remain in the project as permanent debt) and 2) short term loan guarantees for new construction and rehabilitation. The CHIF funds will revolve back into the CHIF fund allowing DOH to make more loans, as the short term loans are repaid or loan guarantees are released. Eligible applicants include non-profit and for-profit organizations with experience developing affordable housing and Public Housing Authorities. Funds can be used for acquisition, bridge loans, new construction, and rehabilitation.