Local issuers can assign their volume cap to CHFA.
CHFA provides funding for a wide variety of housing and economic development related projects. If they have a specific project in mind or would like to support projects in their jurisdiction, local issuers can assign to CHFA to be used for any eligible project, including a specific project. CHFA uses its best efforts to utilize a local issuer’s cap in their community, however utilization is based on project needs statewide. There is no cost to assign cap to CHFA; CHFA handles all DOLA and IRS reporting on behalf of the local issuer.
Local Issuers Assigning to CHFA
If a local issuer is considering assigning its CAP to CHFA, we offer the following:
- In-person presentations and training to elected officials and staff.
- Standardized template documents. There are only three documents necessary to assign cap to CHFA:
- Assignment of Allocation
- Assignment Resolution or Ordinance
- Attorney Certification
- Ability to identify a specific multifamily project as potentially eligible for volume cap within their community for up to one year.
- Set aside for SFMRBs for a specific community.
- Subject to the availability of CHFA’s cap, local issuers can collaborate with CHFA on future multifamily or manufacturing projects.
CHFA welcomes the opportunity to speak to you about this valuable resource and help you make the best decision for your community. Please contact Denver Maw for more information or to schedule a concept meeting, training, or presentation.
Remember, this is a time sensitive resource. All documentation must be received by CHFA no later than September 14, in order for CHFA to provide proper notice to DOLA . We look forward to your partnership.