b Sanctuary_on_Potomac_9%_and_State_Notification_Letter.SIGNED.pdf
PDF 543 KB Posted
- Attached to
- RFP20240906 Debt and Equity Sanctuary on Potomac
- Solicitation number
- RFP20240906
- Issued by
- Alamosa County, Colorado
About this file
This document is a Housing Tax Credit Notification Letter from the Colorado Housing and Finance Authority (CHFA) to the Aurora Housing Authority regarding the Sanctuary on Potomac project. The letter confirms the project's approval for a reservation of federal 9 Percent Housing Tax Credits totaling $1,408,140 and state Housing Tax Credits of $700,000 for the affordable housing development. The applicant has 10 days to pay reservation fees of 4% for federal credits and 1% for state credits, which amounts to $63,326.
The tax credit allocation is based on the review of the application in accordance with the 2023-2024 Qualified Allocation Plan (QAP). The notification indicates that the project has met the necessary criteria for tax credit allocation, which is a critical funding mechanism for affordable housing development. The letter provides contact information for Meghen Brown at CHFA for any questions, and is signed by D. Brian Miller, Chair of the Tax Credit Allocation Committee and Director of the Asset Management Division.
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Text version
«Deal_Name_»
Date
Housing Tax Credit Notification Letter
July 23, 2024
Via email: dashleyoehm@aurorahousing.org
Aurora Housing Authority Dayna Ashley-Oehm 2280 S. Xanadu Way Aurora, CO 80014
Re: Sanctuary on Potomac
Dear Dayna:
Thank you for applying for federal 9 Percent and state Housing Tax Credits from Colorado Housing and Finance Authority (CHFA).
The CHFA Tax Credit Allocation Committee has completed its review of all Housing Tax Credit applications submitted and has considered the merits of your application in accordance with the 2023-2024 Qualified Allocation Plan (QAP). At this time, I am happy to inform you that the project was approved for a reservation of federal 9 Percent and standard State Housing Tax Credits in the annual amounts shown below.
Federal 9% Housing Tax Credits $1,408,140
State Housing Tax Credits $700,000
A reservation fee of four percent (4%) of the annual federal Housing Tax Credit amount reserved to your project, along with a one percent (1%) reservation fee for the State Housing Tax credit amount, is due prior to the issuance of Preliminary Reservation letters. The applicant has 10 days in which to pay the fees in order to maintain these reservations.
Please remit $63,326 upon receipt of this letter. CHFA will email a separate invoice.
We appreciate your commitment to affordable housing and the effort placed in completing the Housing Tax Credit application. If you have any questions, please contact Meghen Brown at 303.297.7433.
Sincerely, D. Brian Miller Chair, Tax Credit Allocation Committee Director, Asset Management Division
Docusign Envelope ID: 177D3100-2C18-45B6-A23F-9A75FA120D2C
| 2024-07-23T14:44:03-0700 | |
| Digitally verifiable PDF exported from www.docusign.com |
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