The Colorado Private Activity Bonds (PAB) Program provides a financing tool that can be used to fund affordable housing activities. Each year the city of Boulder receives an annual allocation from the state. The 2024 PAB allocation is $6,647,089. The city’s authority includes issuing the bonds to an eligible project (must be closed by 12/22/2024), carry forward for a future project or assign to another issuer for an eligible purpose. The City of Boulder is seeking proposals from affordable housing providers interested in accessing the city’s Direct PAB Allocation to pursue development projects resulting in permanently affordable housing units serving low- and moderate-income households.
Investing in Affordable Housing and Community Development
The city's Housing and Human Services (HHS) department administers local and federal funding for affordable housing and capital investments for community development. The city directs this funding to benefit low- and moderate-income people in Boulder.
HHS distributes more than $3 million annually in funds through a competitive process to support affordable housing in Boulder. Affordable housing funds are used to build, rehabilitate or acquire affordable housing.
How to Apply - Private Activity Bonds
Review Eligibility
Submit Funding Request Application
To submit a proposal please complete the Request Form by July 19, 2024 and submit it to: Eli Urken, Housing Investment Senior Project Manager, at UrkenE@bouldercolorado.gov, 303-441-4142 and Corina Marin, Grants Administrator, at MarinC@bouldercolorado.gov, 303-441-4134.
2024 Annual Action Plan
We are currently accepting comments to the draft 2024 Annual Action Plan from Friday, May 17, 2024 through Monday, June 17, 2024 by 5:00pm. All residents are encouraged to submit written comments to Corina Marin at MarinC@bouldercolorado.gov or 303-441-4134.
An in-person public hearing will be held on Tuesday, June 4, 2024 at 12:00 pm.
Location:
1101 Arapahoe Ave
Boulder, CO 80302
Funding Programs and Sources
The four primary fund sources are:
Affordable Housing Fund (AHF)
The Affordable Housing Fund is used to build, rehabilitate or acquire affordable housing. These local funds are often leveraged with other financial resources from the state and federal governments. Sources of the local funds include:
- Commercial linkage fee
- Inclusionary Housing cash-in-lieu contributions
- General fund
Community Housing Assistance Program (CHAP)
The Community Housing Assistance Program Fund was established in 1991 to provide a simple and flexible, locally administered funding source to increase the supply of affordable housing for working households. Source for this fund include:
- Property tax that generates around $3 million per year
- Housing Excise Tax
HOME Program
The HOME Investment Partnerships Program (HOME) provides grants from HUD to states and localities like Boulder. Boulder receives these funds as part of the Boulder Broomfield Regional HOME Consortium with the City of Longmont, the City and County of Broomfield and Boulder County. These funds are used for affordable housing activities, including:
- New construction of affordable housing, including soft costs and predevelopment
- Rehabilitation of rental housing and/or homeowner housing
- Address recent and urgent health and safety needs
Community Development Block Grant (CDBG)
Boulder began its participation in the Community Development Block Grant Program as an entitlement community when the program was initiated in 1975. As an entitlement community, Boulder receives funding directly from HUD. Traditionally, Boulder has spent funds primarily on capital projects and public service programs that have directly benefited low- and moderate-income residents, the elderly, severely disabled, and other special populations in the community.
CDBG and HOME funds allocated to Boulder and to the Boulder Broomfield Regional Consortium are awarded based upon the priorities identified in the 2020-2024 Consolidated Plan. The Consolidated Plan is carried out through Annual Action Plans, which provide a concise summary of the actions, activities, and specific federal and non-federal resources that will be used each year to address the priority needs and specific goals identified by the Consolidated Plan.
How to Apply - Affordable Housing Funds
Review Boulder's Funding Policies
Submit application
As of May 2023, there are no open fund rounds; we are not accepting applications for Affordable Housing Funds at this time. Please contact Eli Urken, Housing Investments Manager, at UrkenE@bouldercolorado.gov about future or time-sensitive investment opportunities.
2023 Community Development Block Grant (CDBG) Funding Awards
- All Roads Permanant Supportive Housing Program (permanent supportive housing unit upgrades): $39,600
- All Roads Shelter (shelter upgrades): $97,161
- Growing Gardens: $211,239
- Harvest of Hope Pantry: $100,000
- Thistle Parkside Village Townhomes: $152,000
HHS Community Funding and Grants
Housing Investment Advisory Committees
Stay Connected
Program Staff
Corina Marin, Grants Administrator
- marinc@bouldercolorado.gov or (303) 441-4134