Transformational Housing Loan Fund
The Colorado Department of Local Affairs (DOLA), through its Division of Housing (DOH) Office of Housing Finance and Sustainability (OHFS), is currently accepting applications for the Transformational Affordable Housing Loan Fund (THLF).
The THLF provides low-interest, flexible and below-market financing to developers and affordable housing providers to support the development of new affordable housing units, the preservation and rehabilitation of existing home stock, the conversion of market properties to affordable housing and the purchase of land or buildings for future development to serve Extremely Low Income to Middle Income individuals and families throughout Colorado.
Fund Type: State
Eligibility
Eligible Project Types and AMI Levels
- Rental
- 120% AMI in Urban and Rural areas
- 140% AMI in Rural Resort areas
- Homeownership
- 120% AMI in Urban and Rural areas
- 160% AMI in Rural Resort areas
- Mobile Home Parks
See Additional Resources section below for County Classifications
Eligible Activities
- Property acquisition
- New construction
- Preservation and restoration (limitations apply)
- Rehabilitation of existing units
- Energy efficiency upgrades
- Housing related infrastructure
- Short term interim loan
Award Terms
Funds are awarded as a loan.
Eligible Borrowers
- Nonprofit developers
- For-profit developers
- Housing authorities
- Local governments
Loan Terms
- Interest rates:
- 2% for-profit developers
- 1% nonprofit developers, housing authorities, local governments or political subdivisions of the State
- Term: typically commensurate with senior debt
- Repayment: typically a percentage of cash flow or up to a 40 year amortization
Legislation
Transformational Affordable Housing Loan Fund
Resources
DOH Staffing and Regional Assignments