Housing Development Resources

1. Overview

NEW: Housing Hub Colorado
Governor Polis, Mayor Mike Johnston, Colorado Department of Local Affairs (DOLA), the Colorado Housing and Finance Authority (CHFA), the Colorado Office of Economic Development & International Trade (OEDIT) and the City and County of Denver’s Department of Housing Stability (HOST) have launched the new Housing Hub Colorado, an initiative designed to bring key agencies in the state together to support a streamlined process to apply for affordable rental housing tax credits and related public funds, and strengthen Colorado’s commitment to safe, stable, and secure housing for all. Housing Hub Colorado is the first initiative launching out of the Colorado Housing Consortium.

Phase 1 (launched Nov. 25), focuses on immediate improvements that make the housing funding process more coordinated and predictable. This includes:

• A centralized website that shares timelines, instructions, and resources for rental housing developments seeking Housing Tax Credits along with related gap funding from DOLA
• and/or HOST
• Aligned application spreadsheet across CHFA, DOLA, and HOST, allowing developers to use a single budget application which will save time and money for developers
• Aligned narrative questions across agencies
• A streamlined DOLA pre-application that removes financial letters of interest and reduces required fields
• A unified funding timeline that helps developers understand when programs open and how to prepare

These updates create a clear timeline for developer stakeholders and reduce administrative burden so projects can move forward more quickly.

Phase 2 will continue to deepen alignment across agencies and develop a common application.

• A common application for funding sources related to developments supported by Housing Tax Credits, targeted for launch in 2026
• A fully aligned set of questions and required materials
• Expansion to additional housing programs beginning with additional rental funding opportunities and later including homeownership programs

This next phase is an important step toward a more efficient and predictable system that supports the continued growth of affordable housing across Colorado.

2026 Gap Financing Application Rounds
HOST will accept gap financing applications in 2026 through the following solicitations:

• The HOST financing application, template and information/certification can be found here. HOST will also accept the CDOH and or CHFA application instead. If submitting a CDOH or CHFA application, also complete the HOST Application Certification document. HOST reserves the right to request additional materials and documentation.

• HOST financing priorities can be found here.

• If you have already submitted a formal application for a reservation of private activity bonds, please apply again for gap financing to confirm interest and provide any project updates in your gap financing application. 

• HOST implements a “quiet period” as part of each competitive application process to ensure a fair and consistent process for all applicants in the competitive rounds, so that awards are based on the merits of each project and any potential interference or lobbying from the applicant or its supporters is eliminated. The quiet period for each competitive round begins on the date that applications are due and ends on the announcement of the applicable gap financing awards.

• At this time, HOST is not accepting funding applications outside of the three solicitations listed above. HOST will announce additional opportunities whenever funding becomes available.

• Please direct applications to housingdevelopment@denvergov.org. You may also request a box link to upload large files for your submission at this email.

The Department of Housing Stability (HOST) provides low cost financing to facilitate the development of new and preservation of existing affordable housing through products designed to meet the City's priorities for affordable housing.

Rental developments may serve households earning up to 80% of the Area Median Income (AMI). However, projects serving households at or below 30% AMI or formerly homeless households will receive priority consideration. Any rental development receiving HOST funding will be subject to a 60-year affordability period.

Homeownership developments may serve households up to 100% AMI, but projects serving households at or below 80% AMI and/or providing affordability periods over 60 years will receive priority consideration.

2. Financing Application, Term Sheets, and Other Resources

Financing for the development and preservation of income-restricted housing is invested according to the Term Sheet below. Each financing product is designed to be responsive to gaps in market financing available for different types of affordable housing projects.

Applications for financing products are reviewed as received and prioritized according to a) HOST’s funding priorities and b) funding availability of varying fund sources.

2025 Term Sheet(PDF, 197KB)

Application

• HOST Housing Financing Application Instructions (PDF)
• HOST Application Template (XLSX)
• HOST Application Information and Certification (PDF, 604KB)(PDF)
  
  

Other 

• HOST Underwriting Standards (PDF) - Underwriting maximums, maximums, and considerations for evaluating housing financing applications
• Form of Subordination (PDF) – Your senior lender may request that junior lenders, including the city, sign a Subordination Agreement expressly subordinating junior liens and payment priority
• Max Initial Home Sale Prices
  
  

Max Rents and Rental Income Limits

• Please see Asset Management & Compliance Resources page.

Homeownership Income Limits

• Please see Affordable Homeownership page.

Please note: If you have any issues reading any portion of the above documents, please contact us at housingstability@denvergov.org for assistance.

3. Financing Priorities

The city prioritizes investment in projects that meet key affordable housing policy priorities. These priorities relate to a) the location of the proposed project, b) the characteristics of the project itself, and c) funding and underwriting for the project.

Our housing loan application requires applicants to respond to questions about how the proposed project meets specific city priorities. Prior to being accepted for underwriting, applications for city financing will be evaluated according to how well they meet the following priorities. The HOST Application Template includes a checklist of funding priorities and the HOST Housing Financing Application Instructions include a request for additional description in the narrative.

Once and application is accepted by the city, all requests for financing are subject to underwriting approval by the Loan Review Committee and approval by City Council  where applicable.

Location-specific priorities include:

• Affordable housing in neighborhoods with access to transportation
• Housing that supports our anti-displacement efforts in neighborhoods vulnerable to gentrification 
• Affordable housing in neighborhoods with high “access to opportunity” factors such as high quality education, proximity to good paying jobs, and other services and amenities such as parks, libraries, recreation centers, child care, health care, and grocery stores

Project-specific qualifications include:

• Affordable housing for family sized units (three-bedroom or larger)
• Affordable housing for very low income (30% AMI) households
• Affordable housing for special populations and accompanying amenities or services as needed
• High quality, sustainable housing development
• Development that includes services or amenities that support economic mobility of residents

Funding priorities include:

• Leverage of other funding sources to minimize the request for HOST gap funding 
• Availability and allowable uses of HOST fund sources

Projects applying for city financing must also meet minimum readiness to proceed criteria, including:

• Site control
• Completed environmental assessment
• Correct zoning designation
• Conditional commitments from other financing sources

4. Timing and What to Expect

• HOST staff will work with your team through all City processes, beginning with negotiation, environmental review, when appropriate, and underwriting upon receipt of an application. It is important to note that while HOST staff can help identify appropriate funding levels based on policy and underwriting, and funding availability, all funding decisions are made by the Loan Review Committee (LRC) and no agreement is final until approved by Council and Mayor.  

  Once a conditional approval is issued HOST staff works with the City Attorney’s Office (CAO) to draft loan documents. After a Loan Agreement is executed by borrower, all loans over $500,000 must proceed through the legislative process to obtain a final Council decision.  The process may be lengthy (3-6 months) depending on the transaction, and the number of agenda items before the Council for consideration.  This timeline assumes no significant negotiation issues and minimal borrower comments to City template documents.

  Loan modifications and Subordination requests may require a Loan Agreement amendment, and may also require a review process as referenced above.

5. HOST/DOF Private Activity Bond (PAB) Application Process

• Each year on March 1, HOST will solicit Letters of Intent (LOI) from affordable housing developers, or their representative, who are seeking a PAB allocation from the next immediate year’s capacity. LOIs are due to the HOST no later than March 31. With prior approval from HOST, projects located within an expiring Qualified Census Tract (QCT) may apply for City PAB earlier than March 31st in order to preserve the QCT status. Projects that are awarded the full amount of their PAB request will be expected to apply for accelerated state credit for projects financed with tax-exempt Private Activity Bonds and federal 4 percent Housing Tax Credits, and, if applicable, TOCs no later than September 10^th (non-competitive round).

  At a minimum, LOIs, must include the following

  • Cover letter for the request, summarizing the project
  • Applicant name, address, telephone (if a subsidiary, provide information for subsidiary and parent company)
  • Individual contact name, telephone, and email
  • Project name and address
  • Amount of PAB request
  • Request date for PAB issuance
  • Description of the project (including services and amenities)
  • The unit mix for the project
  • The scope of work for the project
  • Sources and uses for project
  • Finance plan for project
  • Experience of applicant
  • Renderings/drawings of the project

   

   
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• HOST will convene an internal review committee to assess and prioritize the LOIs using the Prioritization Factors listed below and with the approval of the Executive Director of HOST, or their designee, invite selected developers to formally apply for PAB cap. The number of invitations to apply will depend on available capacity. Developers will be notified of their invitation to formally apply by early May, with formal applications being due June 1^st. Final reservations of bond cap to be announced in July.

  Prioritization Factors

  Based on the applications received, the PAB Working Group will make a formal recommendation and DOF and HOST Executives will approve or deny the recommendation. Recommendation will be based on the following considerations:

  • How the project fits into HOST priorities for City PAB use. Prioritization factors will be weighted at staff discretion and should include the following considerations:

  1. HOST (or other City) funding request per unit
  2. Expiring Qualified Census Tract
  3. Existing affordability restrictions expiring in next five years (preservation)
  4. Total development cost per unit
  5. Transit-oriented development (TOD) sites eligible for State Transit-Oriented Communities Credits (TOC)
  6. Total share of family units (three-bedroom or larger)
  7. Total share of units restricted at 30% or below area median income
  8. Sites subject to deadlines from a previous City agreement(s)
  9. Consideration of developer’s active pipeline
  10. Projects that serve homeless tenancy with qualified Supportive Housing services

  • Any commitments the City has already made for the project (i.e. City loan, TIF, etc.).
  • How the use for project will affect the PAB pipeline.
  • Status of the project through any City approval process (Entitlements, TIF, HOST Financing etc.)

   

  Application Requirements

  Formal applications are to include:

  • All of the information submitted in the Letter of Intent. Information should be current as of the time of application.
  • Name and contact information for construction and permanent financing provider
  • Information about construction and permanent financing (i.e. Term Sheet).
  • Name and contact information for tax credit equity provider (if applicable)
  • Name and contact information for other consultants or project partners (City retains the right to approve these participants

   

  Application Fees

  HOST requests PAB application fees based upon receiving a formal reservation of bond cap.  Application fees are as follows:

  • $1,000 for non-profit
  • $2,500 for-profit

   

   

    

Any HOST Housing Development Officer may speak to the above process and confirm bond cap availability based on the ledger totals in the PAB folder “Main Tracker.” For more in-depth inquiries, please contact: John Torres, Housing Development Administrator, John.Torres2@denvergov.org.

6. Community Housing Development Organizations (CHDO)

The City and County of Denver’s Department of Housing Stability (HOST) is seeking non-profit, community-based housing development organizations to become certified as a Community Housing Development Organization. Organizations previously certified by the City will also need to be re-certified to continue this designation. 

What is a CHDO?
A Community Housing Development Organization (CHDO) is a private nonprofit, community-based service organization with the capacity to develop affordable housing for the community it serves. The City and County of Denver must set aside a minimum of 15 percent of their annual HOME Investment Partnership (HOME) allocation from the U.S. Department of Housing and Urban Development (HUD) for housing development activities in which qualified CHDOs are the owners, developers and/or sponsors of the housing.

CHDO-eligible activities include: Acquisition and/or rehabilitation of rental housing, new construction of rental housing, Acquisition and/or rehabilitation of homebuyer properties, new construction of homebuyer properties, and Direct financial assistance to purchasers of HOME assisted housing sponsored or developed by a CHDO with HOME funds.

A CHDO must have received a tax-exempt ruling from the IRS under Section 501(c) of the Internal Revenue Code of 1986 in order to be designated by the City as a CHDO. A CHDO should have a clearly defined geographic service area and the provision of decent housing that is affordable to low- and moderate-income persons must be among the purposes of the organization. In addition, at least 1/3 of a CHDO’s board of directors must represent the low- to moderate-income community in which they serve. 

If your organization meets the criteria outlined above, HOST encourages you to apply for CHDO certification using the application materials below. Applications and Board Certifications can be sent to housingdevelopment@denvergov.org.

CHDO Application(PDF, 186KB)

Board Certification(PDF, 218KB)

7. Notices for Housing Partners

Annual Recertification Guidance Notice for Rental Housing Partners(PDF, 127KB)