RFP20231204 - RFP20231204 Willow Park Financing

AHA is seeking a letter of intent outlining the terms of your proposed financing. This is an 86-unit construction project consisting of the rehab of 64 existing units; demo of 4 and new construction of 22 units. This project was awarded a preliminary reservation of non-competitive 4% Federal tax credits from the Colorado Housing and Finance Authority (CHFA) on September 26, 2023. There is currently a Housing Assistance Payments contract on all 68 existing units which will be reassigned to the new owner/partnership at closing. A permanent Risk Share loan through CHFA is in process. CHFA will issue bonds. The City of Aurora has awarded the project CDBG and General Funds. The HUD Environmental Assessment has been completed and a Release of Funds is anticipated in mid-January 2024.