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
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.
HOME-ARPA Allocation Plan Survey
On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA) into law, enabling over $1.9 Trillion in relief to address the continued impact of the COVID-19 pandemic on the economy, public health, State and local governments, individuals and businesses.
To address the need for homelessness assistance and supportive services, Congress appropriated $5 billion in ARPA funds to be administered through HOME to perform four activities that must primarily benefit qualifying individuals and families who are homeless, at risk of homelessness, or in other vulnerable populations.
These activities include:
- development and support of affordable housing,
- tenant-based rental assistance (TBRA),
- provision of supportive services; and
- acquisition and development of non-congregate shelter units.
The program described in this notice for the use of the $5 billion in ARPA funds is the HOME-American Rescue Plan or “HOME-ARPA.”
ARPA defines qualifying individuals or families as those that are (1) homeless, as defined in section 103(a) of the McKinney-Vento Homeless Assistance Act, as amended (42 U.S.C. 11302(a)) (“McKinney-Vento”); (2) at risk of homelessness, as defined in section 401 of McKinney-Vento; (3) fleeing, or attempting to flee domestic violence, dating violence, sexual assault, stalking, or human trafficking; (4) part of other populations where providing supportive services or assistance would prevent a family’s homelessness or would serve those with the greatest risk of housing instability; or (5) veterans and families that include a veteran family member that meet the criteria in one of (1)-(4) above.
ARPA authorized HUD to allocate HOME-ARPA funds to states, units of general local government, insular areas, and consortia of units of general local government that qualified for an allocation of HOME funds in Fiscal Year (FY) 2021, pursuant to section 217 of the Cranston-Gonzalez National Affordable Housing Act of 1990, as amended (42 U.S.C. 12701 et seq.) (“NAHA”). On April 8, 2021, HUD allocated HOME-ARP funds to 651 grantees using the HOME formula established at 24 CFR 92.50 and 92.60.
As a HOME program participating jurisdiction, the Boulder-Broomfield HOME Consortium received $4,256,840 million to benefit qualifying populations in our community. This draft plan describes the City’s intended use of the HOME ARPA funds as required in HUD Notice CPD-21-10.
The survey will close February 20, 2023, at 5pm.
How to Apply for Funding
Review Boulder's Funding Policies
As of August 2022, there are no open fund rounds; we are not accepting applications at this time. Please contact Eli Urken, Housing Investments Manager, at UrkenE@bouldercolorado.gov about future or time-sensitive investment opportunities.
Corina Marin, Housing Sr Program Manager
- email@example.com or (303) 441-4134