To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources Department
Prepared By:
prepared
Nancy Sonnenfeld, Community Development Administrator, Community Development, Housing and Homeless Services (CDHHS), Community Resources Department
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Subject:
title
2025 Private Activity Bond (PAB) Allocation
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Purpose and Request:
recommended action
The Board of County Commissioners is requested to adopt a resolution authorizing the approval of the recommended allocation for the assignment of the County's 2025 Private Activity Bonds allocation totaling $8,886,811.00.
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Background and Discussion: The Board of County Commissioners (BOCC) heard funding allocation recommendations for the assignment of the total amount of $8,886,811.00 in 2025 County PAB funds on May 27, 2025. The BOCC reviewed the funding recommendation and instructed staff to schedule the item for consent agenda during a business meeting. The narrative below is a copy of the background and discussion portion of the Board Summary Report (BSR) presented to the BOCC during the aforementioned study session, without any changes.
Private Activity Bonds (PABs) are a tax-exempt bonding authority, used either to create a loan for a project at a tax-exempt rate, or to create a mortgage credit certificate. The State of Colorado established its PAB allocation program by state statute (24-32-1701 et seq., C.R.S.) to provide for the allocation of Colorado's PAB authority. Staff are requesting that the assignment of County Private Activity Bond allocations to Colorado Housing and Finance Authority (CHFA) will be used to generate a 4% Low Income Housing Tax Credit (LIHTC) loan for the top-ranking projects awarded funding.
Arapahoe County received seven (7) applications for the 2025 Private Activity Bonds. CDHHS reviewed all applications for completeness, eligibility, developer experience, financial feasibility and the possibility of creation of Prop 123 housing u...
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