CLICS/CLICS2023A/commsumm.nsf
PUBLIC
BILL SUMMARY For PRESENTATION BY THE COLORADO HOUSING & FINANCING AUTHORITY (CHFA)
INTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Aug 30, 2023
Location HCR 0112
Presentation by the Colorado Housing & Financing Authority (CHFA) - Committee Discussion Only
|
|
|
01:55:51 PM |
The committee took a brief recess.
|
|
02:17:56 PM |
The committee came back order.
|
|
02:18:14 PM |
Ms. Jerilynn Francis,
representing the Colorado Financing and Housing Authority (CHFA), came
to discuss CHFA's role and interaction with Colorado tax policy. CHFA's
presentation may be found in Attachment C.
|
|
02:22:32 PM |
She noted CHFA's impact in the community through homeownership, rental housing, business lending, and community partnerships.
|
|
02:26:33 PM |
Ms. Francis continued
by discussing low income housing tax credits (LIHTC). She discussed both
federal tax credits.
|
|
02:30:19 PM |
She continued by discussing Colorado's affordable housing tax credit (AHTC).
|
|
02:34:10 PM |
Ms. Kathryn Grosscup, representing CHFA, provided additional information on housing tax credits. She compared housing tax credits for multifamily developments.
|
|
02:43:48 PM |
Ms. Grosscup continued by discussing CHFA's qualified allocation plan.
|
|
02:52:31 PM |
Ms. Grosscup continued by discussing CHFA's 2022 round two and 2023 round two projects.
|
|
02:54:49 PM |
Ms. Francis continued by discussing the residents supported by CHFA.
|
|
02:55:16 PM |
Ms. Francis continued
by discussing OSA's tax evaluation report of the state affordable housing
tax credit.
|
|
02:57:24 PM |
Ms. Francis continued by discussing the challenges such as high development costs and supply chain restraints, rising interest rates, resource oversubscription, and federal credit reduction.
|
|
02:58:41 PM |
Ms. Francis continued by discussing rental housing needs and meeting the spectrum of those needs.
|
|
03:07:51 PM |
Committee discussion
continued on small-scale development, criteria for affordability of the
units, average rent, and compliance.
|
|
03:25:10 PM |
Committee discussion
with CHFA continued.
|
