Private Activity Bonds
New Process for Private Activity Bonds
Private Activity Bonds can be used to leverage funding programs for the development of Affordable Housing. Because this tool is becoming more popular, the City is moving from a first come first served process to an application process for the assignment or issuance of this tax exempt bond capacity. See attached Full Private Activity Bond Finance Policy. Applications must be submitted by March 15th and shall include the following elements:
- Request letter describing project and providing applicant’s contact information
- Amount requested
- Bond counsel contact information
- Description of applicant’s local projects and history of operations
- Number of years doing business in the State of Colorado and a Certificate of Good Standing from the Secretary of State’s office
- Description of assets to be purchased or constructed
- Explanation of how the project aligns with City objectives
- Number of housing units and target demographics
- Statement from bond council that project is eligible for Private Activity Bonds
- Additional information is required to issue bonds rather than assigning bond capacity.
For more information, Contact Sue Beck-Ferkiss at c2JlY2tmZXJraXNzQGZjZ292LmNvbQ== or 221-6753.