To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources
Prepared By:
prepared
Elizzebeth Loomis, Division Manager, Community Development, Housing and Homeless Services, Community Resources
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presenter
Presenter: Elizzebeth Loomis, Division Manager, Community Development, Housing and Homeless Services, Community Resources
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Subject:
title
11:45 AM *Reassignment of 2025 Private Activity Bonds from Colorado Housing and Finance Authority to South Metro Housing Options for the Star Light Development
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Purpose and Request:
recommended action
The purpose of this report is to recommend the allocation of the County's 2025 Private Activity Bonds (PABs) to South Metro Housing Options (SMHO) for the administration of a 4% Low-Income Housing Tax Credit (LIHTC) loan for the Star Light project, in lieu of the Colorado Housing and Finance Authority (CHFA).
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Background and Discussion: : On July 22, 2025, the Board of County Commissioners approved the reallocation of $5,000,000 of the County's 2025 Private Activity Bonds (PABs). PABs are a form of tax-exempt bonding authority that can be used to provide either low-interest financing for qualifying projects or to create mortgage credit certificates. The State of Colorado established its PAB allocation program through state statute (24-32-1701 et seq., C.R.S.) to manage the distribution of the state's annual PAB authority.
Community Development Housing and Homeless Services (CDHHS) staff is requesting approval to assign $5,886,811.00 in PABs to South Metro Housing Options (SMHO) for their in-house development project, Star Light. SMHO will administer the bonds and utilize the allocation to generate a 4% Low-Income Housing Tax Credit (LIHTC) loan in lieu of going through the Colorado Housing and Finance Authority, who was the original designee assigned on July 22, 2025. This allocation will support the development of 74 affordable multifamily units along Littleton Bou...
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