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New affordable townhomes in Pueblo get initial approval from city

As the 1950s era Sangre de Cristo Apartments fall to the wrecking ball, they are being replaced by new affordable townhomes for Pueblo residents. ....

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13 housing projects in Colorado awarded federal 9 percent tax credits

13 housing projects in Colorado awarded federal 9 percent tax credits
Thomas Gounley photo)
Thirteen planned income-restricted housing projects in the state have been awarded federal 9 percent low-income housing tax credits.
The Colorado Housing and Finance Authority (CHFA), which allocates both state and federal housing tax credits in Colorado, released a list this week of the projects. Combined, they will have 882 income-restricted units.
There are two types of federal housing tax credits: 9 percent and 4 percent. The 13 projects were chosen from 25 applications that CHFA received for the 9 percent credits this year.
Developers sell the tax credits to investors to raise equity for their projects, according to CHFA. The equity reduces the amount of debt financing or other funding sources needed to make the development financially feasible with the rent limits required under the programs. ....

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