f Sanctuary Timeline Milestones.pdf

This document is a detailed project timeline for the Sanctuary on Potomac Permanent Supportive Housing (PSH) development, prepared by the Aurora Housing Authority (AHA) on September 24th, 2024. The timeline outlines critical development and financing milestones, including submitting a Low-Income Housing Tax Credit (LIHTC) application to the Colorado Housing Finance Authority (CHFA), soliciting investor/lender proposals, and key project stages from initial application through construction completion and occupancy. The project timeline spans from September 2024 to July 2027, with significant milestones including posting final Request for Proposals (RFPs) for investors/lenders on October 15, 2024, selecting LIHTC investors/lenders by November 18, 2024, and starting construction on May 1, 2025.

The project's financial structure involves multiple phases of financing, including LIHTC applications, construction loan closing, and conversion to a permanent loan. Construction is projected to take approximately 15 months, with the project anticipated to reach 100% qualified occupancy by March 1, 2027, and complete 90 days of stabilized occupancy by June 1, 2027. The timeline indicates a comprehensive approach to financing and development, involving careful coordination of construction milestones, investor selections, and regulatory compliance, with the ultimate goal of creating a permanent supportive housing development that meets community housing needs.