Final
Presentation by CHFA
COMMITTEE ON
JOINT FINANCE
Votes:
Action Taken:
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11:12 AM
-- Presentation by the Colorado Housing and Finance Authority
Mr. Chris White, Chief Operating Officer, and Mr. Tom Hemmings, Chief Financial Officer, Colorado Housing and Financing Authority (CHFA) presented information on CHFA to the committee. A copy of their presentation is provided as Attachment C.
Mr. White began by providing an overview of CHFA and said that it was created by the General Assembly in 1973. CHFA issues bonds and notes to finance home loans. These bonds and notes are not obligations of the state. Mr. White discussed the 11-member Board of Directors and provided background information on each board member.
Mr. White commented that CHFA provides home financing, rental financing, and business financing in it role as a housing lender. CHFA has financed 57,000 single family homes and 56,000 rental units. CHFA finances homes in all 64 counties in Colorado.
11:18 AM
Mr. Hemmings commented that 2004 was a good year for CHFA. In 2004, CHFA financed 3,198 home loans, and had a total production level of loans that amounted to over $550 million. Mr. Hemmings closed by discussing the types of bonds that CHFA issues. The current rating for its general obligation bonds is A to A1.
11:24 AM
Mr. White closed by discussing some CHFA highlights for 2005. One initiative is to apply for $150 million in tax credits through the federal treasury for redevelopment in blighted areas. Another goal for 2005 is to make more money available to developers who develop homes around transit hubs such as light rail stations along the TREX line.
11:26 AM
Adjourn.