Private Activity Bonds (PAB): This is a special class of tax-exempt bonds that benefit private (non-governmental borrowers). Both Pueblo County and the City of Pueblo can issue PABs. Eligible uses for PABs include:
- Affordable multifamily housing including new construction or acquisition and rehabilitation for low- and moderate-income individuals and families.
- Single Family Mortgage Revenue Bonds (SFMRBs) used to finance the purchase of mortgages made to income-qualified first-time homebuyers.
- Mortgage Credit Certificates (MCCs), a financing enhancement for income-eligible first-time homebuyers (can’t be combined with SFMRB financing).
- Industrial Development Bonds for smaller manufacturing projects (less than $10 million) that produce any type of goods.
- Qualified Redevelopment Bonds used to acquire and redevelop blighted areas (typically not used in Colorado).
- Solid Waste Disposal Bonds used to finance certain disposal facilities utilizing certain waste disposal processes.
HOME Investment Partnerships Program (HOME): Provides formula grants to states and localities that communities use, often in partnership with local nonprofit groups, to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people. HOME is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low-income households. Both Pueblo County and the City of Pueblo can issue HOME funds.
Community Development Block Grant (CDBG): a funding tool the City uses to revitalize and stimulate growth in predominately low-to-moderate income areas and neighborhoods. CDBG funds are provided by the U.S. Department of Housing and Urban Development. Any activity undertaken using CDBG funds must meet one of the program's three national objectives:
- Benefit low and moderate-income people.
- Prevent or eliminate slums or blight.
- Address conditions that present a serious and immediate threat to the health and safety of the community.
Proposition 123: Pueblo County and the City of Pueblo have both opted into Proposition 123 which allows our community to access funding for affordable housing, which can include initiatives such as land acquisition for new housing projects, down payment assistance for first-time homebuyers, rental assistance programs, and homelessness prevention efforts.
Colorado Housing and Finance Authority (CHFA): CHFA invests in affordable housing and community development. CHFA offers financial resources to strengthen homeownership, affordable rental housing, businesses, and communities. Specific resources include:
- homebuyers achieve homeownership,
- households attend homebuyer education classes held statewide,
- affordable rental housing be developed or preserved,
- businesses access capital to support jobs, and
- communities and nonprofits build capacity to further strengthen Colorado.
- Affordable housing developer’s guide https://developers-guide.chfainfo.com/
Division of Housing (DOH): DOH partners with local communities to create housing opportunities for Coloradans who face the greatest challenges to accessing affordable, safe, and secure homes. Working with the Colorado State Housing Board, the division supports a wide range of housing efforts, including affordable housing, rental assistance vouchers, homelessness, regulation of mobile home parks and factory-built structures, and home modifications for accessibility.
For questions on these resources or to inquire about working with PCDHS on a future project, please contact Lexie Ellis at [email protected]