To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources
Prepared By:
prepared
Elizzebeth Loomis, Division Manager, Community Development, Housing and Homeless Services
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Subject:
title
Approving and authorizing the Chair of the Board of County Commissioners to sign the assignment of allocation agreements with the Colorado Housing and Finance Authority and with South Metro Housing Options for the Assignment of the 2025 Private Activity Bonds
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Purpose and Request:
recommended action
The Board of County Commissioners is requested to adopt a resolution approving and authorizing the Chair of the Board of County Commissioners to execute the agreements in accordance with the Colorado Private Activity Bond Ceiling Allocation Act.
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Alignment with Strategic Plan: Economic Resilience and Stability - Enhance property tax assistance programs to reduce financial strain on vulnerable populations.
Background and Discussion: The Board of County Commissioners previously approved the assignment of three million dollars ($3,000,000.00) from Arapahoe County’s 2025 Private Activity Bond allocation to the Colorado Housing and Finance Authority for the Progress Park Bundle, which includes the Fox Apartments, Lara Lea Apartments, and Regal Apartments. This action was authorized by Resolution Number 25-137, adopted on June 10, 2025. The Board of County Commissioners also approved the assignment of five million eight hundred eighty-six thousand eight hundred eleven dollars ($5,886,811.00) from Arapahoe County’s 2025 Private Activity Bond allocation to South Metro Housing Options for the administration of a four percent (4%) Low-Income Housing Tax Credit loan for the Star Light development. This action was authorized by Resolution Number 25-192, adopted on August 12, 2025. Community Development, Housing, and Homeless Services staff respectfully requests that the Board of County Commissioners adopt a resolution authorizing the Chair of the Board of County Commissioners to execute allocation agreements for these 2025 Private Activity Bond assignments.
Alternatives: N/A
Fiscal Impact: Private Activity Bonds (PABs) are administered by the Department of Local Affairs (DOLA) through CHFA and limited by the IRS. This request does not have a direct fiscal impact on Arapahoe County’s general budget but will provide a great benefit to increasing affordable housing in our jurisdiction.
Alignment with Strategic Implementation Strategies: N/A
Concurrence: N/A