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B1CC22112DFE0BC587258A1B006D7A52 Hearing Summary




PUBLIC
BILL SUMMARY For PRESENTATION BY THE COLORADO HOUSING & FINANCING AUTHORITY (CHFA)

INTERIM COMMITTEE  LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Aug 30, 2023      
Location HCR 0112



Presentation by the Colorado Housing & Financing Authority (CHFA) - Committee Discussion Only
01:55:51 PM  
The committee took a brief recess.
02:17:56 PM  
The committee came back order.
02:18:14 PM  
Ms. Jerilynn Francis,
representing the Colorado Financing and Housing Authority (CHFA), came
to discuss CHFA's role and interaction with Colorado tax policy.  CHFA's
presentation may be found in Attachment C.
02:22:32 PM  
She noted CHFA's impact in the community through homeownership, rental housing, business lending, and community partnerships.
02:26:33 PM  
Ms. Francis continued
by discussing low income housing tax credits (LIHTC). She discussed both
federal tax credits.
02:30:19 PM  
She continued by discussing Colorado's affordable housing tax credit (AHTC).
02:34:10 PM  
Ms. Kathryn Grosscup, representing CHFA, provided additional information on housing tax credits. She compared housing tax credits for multifamily developments.
02:43:48 PM  
Ms. Grosscup continued by discussing CHFA's qualified allocation plan.
02:52:31 PM  
Ms. Grosscup continued by discussing CHFA's 2022 round two and 2023 round two projects.
02:54:49 PM  
Ms. Francis continued by discussing the residents supported by CHFA.
02:55:16 PM  
Ms. Francis continued
by discussing OSA's tax evaluation report of the state affordable housing
tax credit.
02:57:24 PM  
Ms. Francis continued by discussing the challenges such as high development costs and supply chain restraints, rising interest rates, resource oversubscription, and federal credit reduction.
02:58:41 PM  
Ms. Francis continued by discussing rental housing needs and meeting the spectrum of those needs.
03:07:51 PM  
Committee discussion
continued on small-scale development, criteria for affordability of the
units, average rent, and compliance.
03:25:10 PM  
Committee discussion
with CHFA continued.






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