Division of Housing Events and AnnouncementsAnnouncements from 7/1/2008 to 9/30/2008
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Save the Date: Upcoming Foreclosure Forum with Newsed - 9/17/2008 New YouTube Channel for Colorado Foreclosure Hotline - 9/17/2008 Upcoming Advanced Finance Academy Training - 9/17/2008 Housing Stakeholders Meeting with State Housing Board - 9/8/2008 New Statwide Vacancy Survey - 9/1/2008 Colo Springs Vacancy Surveys fully updated - 8/21/2008 New CDH Funding Priorities and Processes 2008-2009 - 8/21/2008 New Vacancy and Rent Survey Now Available - 8/21/2008 Full Info: September 25 Federal Reserve Symposium - 8/21/2008 New Request for Proposals for Foreclosure Prevention Outreach - 8/18/2008 New Statewide Foreclosure Report - 8/6/2008 Developer's Toolkit in Grand Junction - 7/7/2008 July 19 - Sen. Ken Salazar Foreclosure Prevention Assistance Fair - 7/7/2008 July 12 Foreclosure Forum with Congressman Tom Tancredo - 7/7/2008 Latest Statewide Vacancy and Rent Survey - 7/1/2008 New CDBG "Affordable Housing" Boot Camp - 7/1/2008
Save the Date: Upcoming Foreclosure Forum with Newsed (9/17/2008) r m
Newsed and the Division of Housing will be hosting a foreclosure forum targeting West Denver on October 11th from 10am to 12 noon. The meeting will be at Newsed on Santa Fe Dr. See their web site: http://www.newsed.org/ We'll have more details as the time approches.
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New YouTube Channel for Colorado Foreclosure Hotline (9/17/2008) r w
The Colorado Foreclosure Prevention Task Force has launched a new YouTube Channel that contains all of the Hotline's public service announcements, the 2007 video "Help is Out There, Make the Call," and a new video on the Hotline by Fireside Production called Foreclosures 101. Please visit and comment on the videos: http://www.youtube.com/ColoFCTaskforce
Upcoming Advanced Finance Academy Training (9/17/2008) r m
The Colorado Division of Housing (CDOH) is pleased to announce the presentation of its workshop, the Advanced Finance Academy. It will be held on November 4 & 5, 2008 in the Emergency Operations Center at the Colorado Division of Emergency Management in Centennial. The Advanced Finance Academy is designed for housing developers who want to use more complex financing sources for their projects. During class you will work " on computers " with the Colorado Division of Housing"s rental underwriting proforma. The goal is to create financing scenarios that are both sustainable in the long term and provide the most affordability possible. We will cover three in-depth case studies " acquiring existing rental property, preserving a rural rental property and building a new rental complex. Registrations are due by October 20th and class size is limited to 18 participants. This workshop fills up quickly, so be sure to register early. Please see the attached brochure for more detailed information on the workshop and how to register, and contact me if you have any questions.
Click here for brochure PDF File
Housing Stakeholders Meeting with State Housing Board (9/8/2008) r m
The Colorado Division of Housing would like to invite all interested Stakeholder's to a discussion about funding priorities that may have an impact on your organization. Please note this portion of the meeting does not begin until 3:15 pm, Tuesday, September 9. (See PDF invitation below). Meeting Details: When: 3:15 pm- 5:00 pm, Tuesday, September 9, 2008. (The State Housing Board meeting will begin at 1 pm, but this portion is not scheduled to begin until 3:15 pm) Where: 1313 Sherman Street, Denver, CO 80203, Room 318 (Room where the State Housing Board usually meets.) This meeting will be held as a public hearing to gather ideas about a competitive application process and will allow for comments from the public (both written and verbal). If you would like to send in questions or comments prior to the meeting, please e-mail it to trang.van@state.co.us
Click Here for more information PDF File
New Statwide Vacancy Survey (9/1/2008) rw m
See below for full report
Click here for full report PDF File
Colo Springs Vacancy Surveys fully updated (8/21/2008) r m
The Colorado Springs Data is available here in full searchable format for the second quarter of 2008: http://dola.colorado.gov/cdh/vacancy/Colorado_Springs/colorspringsintro.htm
New CDH Funding Priorities and Processes 2008-2009 (8/21/2008) r m
Funding Priorities and Processes for the Colorado Division of Housing, 2008-2009 Funding of Affordable Housing Projects and Programs continues to be a significant challenge in Colorado. Earlier this year DOH found it necessary to brief stakeholders on the funding crises facing the Division and the $28 million dollars worth of projects in the potential application pipeline. Prior practice at DOH enabled the State Housing Board members to make decisions regarding funding of projects and programs on a first come - first serve basis. Due to a decrease in Federal Funding, tightening of capital markets and scarcity of other financial resources, it has become necessary to establish a competitive process for at least two funding sources (HOME, and Housing Development Grant/General Fund). The State continues to have unexpended Community Development Block Grant (CDBG) funds for which policies will be set for outreach and technical assistance. The proposed schedule is as follows: September 9 - 1PM - 1313 Sherman St - Room 318 - State Housing Board Meeting - State Housing Board members will be taking public comment from stakeholders and interested parties regarding 2008-2009 funding priorities and process. No advance sign up necessary. Interested parties are invited to make comments in advance of staff drafting recommended policy to the Board. Comments can be made in person on that date or sent in writing to Trang Van - Colorado Division of Housing in advance of the meeting. October 14-15 - State Housing Board Retreat - Beaver Run Resort - Breckenridge Board will review staff recommendations. Open Board discussion to reach consensus on proposed policy slated for adoption at November Regular Board Meeting. November - two weeks prior to the November Board meeting, the proposed policy will be published and mailed to interested parties and stakeholders for final comment prior to final passage. If you have questions or comments regarding this process please feel free to contact Kathi Williams, Colorado Division of Housing " 1313 Sherman Street #518 - Denver, Colorado 80203, 303-866-4977 or Kathi.williams@state.co.us.
New Vacancy and Rent Survey Now Available (8/21/2008) R M
Colorado rental vacancies down in some cities, up in others Apartment vacancy rates were up in Fort Collins and Colorado Springs, but Greeley experienced a significant decline in vacancies during the second quarter. According to a report released today by the Colorado Department of Local Affairs" Division of Housing, trends in vacancies varied greatly across the state, with Grand Junction reporting one of the lowest vacancy rates ever recorded. At 1.6 percent, Grand Junction continues to experience record low vacancies while Colorado Springs again climbed into double-digit vacancies to 10.2 percent, up from 9.6 percent a year earlier. Both Colorado Springs and Fort Collins reported increases over the past year, with Fort Collins climbing from 8.5 percent to 9.5 percent. While vacancies in Grand Junction have remained below 3 percent since 2006, some areas of the state reported some notable declines in vacancies since the second quarter of last year.
Click here for report PDF file
Full Info: September 25 Federal Reserve Symposium (8/21/2008) r m
For local governments, housing authorities, and housing organizations who plan to redevelop, purchase, and rehabilitate foreclosed properties: On September 25, the Federal Reserve Bank of Kansas City- Denver Branch will be hosting a day-long symposium on the rehabilitation and redevelopment of foreclosed homes. The event will feature local and national experts. There will also be a discussion on funds granted through the HOPE for Homeowners Act of 2008.
New Request for Proposals for Foreclosure Prevention Outreach (8/18/2008) R M
During the 2008 legislative session, the General Assembly passed House Bill 1402. One of the provisions of the bill was an appropriation of $100,000 to the Colorado Division of Housing "for the sole purpose of providing outreach and notice of foreclosure prevention assistance to persons in danger of foreclosure and to communities with high foreclosure rates." The Colorado Division of Housing is a division of the Colorado Department of Local Affairs. The Division seeks to assist local communities in meeting their housing goals and to ensure that Coloradans live in "safe, decent, and affordable housing." The Division does this in part by making grants and loans to local communities; non-profit organizations; for-profit organizations; housing authorities; and other organizations seeking to improve the supply and quality of affordable housing in Colorado. In recent years, assisting non-profits and local communities with foreclosure prevention has been a priority for the Colorado Division of Housing. The Division is partnering with the Colorado Foreclosure Hotline and its sponsors to ensure that Coloradans have access to the educational services provided by housing counseling agencies. As a result of the appropriation in House Bill 1402, The Division of Housing is now seeking proposals from organizations that can provide outreach and notice of foreclosure prevention assistance to persons in danger of foreclosure. Organizations applying for funds should be able to offer: " Evidence of the ability to use funds effectively. " A demonstrated ability to reach borrowers from communities with high foreclosure rates. " An established presence in the community, especially in low- and moderate-income areas with high foreclosure rates. " An ability to provide reporting on successes in targeted areas. " An ability to partner with the Colorado Foreclosure Hotline"s network of housing counseling agencies. " An understanding of foreclosure counseling and the foreclosure process. " A program that increases the number of housing counseling sessions executed by the housing counselors located in Colorado and affiliated with the Colorado Foreclosure Hotline. " A strategy that targets the areas most impacted by foreclosures. " An ability to provide the Division of Housing with materials necessary to provide an update on the use of grant funds prior to January 1, 2009.
Click here for full RFP document PDF Document
New Statewide Foreclosure Report (8/6/2008) R M
Foreclosure filings increase 16 percent in 2008 The rate of increase is less than during 2007 Foreclosures may be slowing down a little in Colorado. There were 16 percent more foreclosure filings during the first half of 2008 than during the same period last year. According to a report released Wednesday by the Department of Local Affairs" Colorado Division of Housing, there were 9 percent more foreclosure filings during the second quarter this year than during the second quarter of 2007. Foreclosure filings dropped 6 percent from the first quarter to the second quarter. Last year, foreclosure filings increased from the first quarter to the second, rising 6 percent. There were 10,870 new foreclosure filings during the second quarter of 2008, bringing the total for the first half of the year to 22,500.There were 19,460 foreclosure filings during the same period last year. 39,915 foreclosures were filed during the full year of 2007 which was a 40 percent increase over 2006. The Division"s report predicts a smaller rate of growth for foreclosures during 2008, ranging from 10 to 20 percent. While the report expects the statewide total for foreclosures to increase again this year, the report shows some counties did experience fewer foreclosure filings when compared against last year. In year-over-year comparisons between the first six months of 2007 and 2008, both Denver County and Pueblo County reported fewer foreclosure filings. Pueblo filings dropped 4 percent from 745 to 715, while Denver filings dropped 6 percent from 4091 to 3847. Adams County reported a 4 percent increase in filings from 3190 to 3317. In recent years, Pueblo, Denver, and Adams Counties have experienced some of the highest rates of foreclosure activity and growth rates. While some of the most hard-hit counties reported decreases, some counties registered large increases in their foreclosure filing totals. Douglas County reported 49 percent more filings, and El Paso County reported 48 percent more filings during the first half of 2008 than during the first half of last year. Rates of increase in other Front Range counties ranged from 15 percent in Arapahoe County to 48 percent in Broomfield County.
Full Report Here PDF File
Developer's Toolkit in Grand Junction (7/7/2008) rw m
Join the Colorado Division of Housing for an exciting two day workshop designed to enlighten participants about the art and science of affordable housing development. Through role playing, participants will attempt to solve the housing challenge facing a typical Colorado community. Hands-on exercises will provide a working knowledge of the critical steps necessary to develop an affordable rental housing community. Open brochure below for registration information.
Click here for brochure PDF file
July 19 - Sen. Ken Salazar Foreclosure Prevention Assistance Fair (7/7/2008) rw m
Saturday July 19th 9:00 am to 12:00 pm Crossroads Church 5420 N. Taft Ave Loveland, CO 80538 More details to come.
July 12 Foreclosure Forum with Congressman Tom Tancredo (7/7/2008) r w
July 12 " South Metro Denver Town Hall Meeting on Foreclosures Join Congressman Tom Tancredo for a panel discussion for the public on foreclosure counseling and prevention, the foreclosure process, and how local officials and real estate professionals can help. When: Saturday, July 12, 2008, 10:00 am -12:00 pm Where: Arapahoe County Government Building, East Hearing Room, 5334 S. Prince Street, Littleton, CO 80166 Who"s Invited: Homeowners, borrowers facing foreclosure, local officials, real estate professionals, and anyone seeking information on the foreclosure process and foreclosure prevention. Foreclosure Prevention Counselors will be present to answer questions. Welcome and Local Perspectives: Colorado State Representative Congressman Tom Tancredo or staff What can be done about the high foreclosure rate? Panel discussion: Kathi Williams, Director, Colorado Division of Housing and co-Chair, Colorado Foreclosure Prevention Task Force Zachary Urban, Director of Housing Counseling, Brothers Redevelopment, Inc. Michael Rosser, Mortgage Industry Consultant, Colorado State Housing Board Sponsors The Office of Congressman Tom Tancredo The Colorado Division of Housing The Colo. Foreclosure Prevention Task Force www.Coloradoforeclosurehotline.org www.Dola.colorado.gov/cdh
Click Here for flyer PDF format
Latest Statewide Vacancy and Rent Survey (7/1/2008) r m
The overall composite Colorado state vacancy rate for the market areas surveyed and the metro Denver area increased to 6.1 percent for March 2008, compared to 5.7 percent for September 2007, 7.5 percent for March 2007, 7.2 percent in September 2006 and 7.7 percent in March 2006. In September of 2005 it was 8.6 percent and 10.4 percent for March 2005. It is difficult to generalize, but a 5.0 percent vacancy rate is considered to be an equilibrium rate. The vacancy rate varies with Alamosa, Aspen, Buena Vista, Canon City Durango, Eagle, Glenwood Springs, Grand Junction, Gunnison, Montrose, Salida, Steamboat Springs, and Summit County all below 5.0 percent. Fort Morgan/Brush, Lake County, Southeastern Colorado, and Sterling have above 5.0 percent vacancy. Colorado Springs had 9.0 percent; Fort Collins/Loveland 5.2 percent; Greeley, 7.3; and Pueblo, 6.0 percent vacant. The overall average rent per square foot ranges from a low of 50 cents in Sterling to a high of $1.49 in Aspen. Rent per square foot is generally the highest in efficiency apartment units and the lowest in three bedroom units. Rental rates are generally lowest with 2 to 8 unit buildings, 9 to 50 and 51 to 99 unit buildings being in the mid-range, and rates highest in the largest buildings (100 and up). Rents are based on the units being unfurnished with residents paying gas and electricity. This report features information on resident turnover. Turnover rate is defined as the frequency at which renters move-out of their apartment units. This information has been calculated for the larger rental markets in our survey: Colorado Springs, Fort Collins/Loveland, Grand Junction, Greeley, and Pueblo. It is summarized under, Resident Turnover per Month by Size of Building and Resident Turnover per Month by Age of Building. In Colorado Springs, the turnover rate for is 4.1 percent. This means that tenants moved out of 4.1 percent of the units the previous month.
Click Here for Full report PDF File
New CDBG "Affordable Housing" Boot Camp (7/1/2008) r w
The Colorado Division of Housing Presents: CDBG Boot Camp When: July 21-23, 2008 What: We want to provide participants with a basic working knowledge of how the state CDBG program will help them appropriately develop and administer affordable housing projects funded by CDBG. " The state CDBG program is the primary vehicle for federal assistance to localities for community development, which includes activities such as water and sewer or other infrastructure improvement, housing rehabilitation, slum and blight clearance. " Community development is vital for facilitating healthy viable communities in the state of Colorado. Who: " This training is for non‐entitlement areas in Colorado which would likely apply for and receive CDBG funds in the next two years. Where: The Division of Emergency Management 9195 East Mineral Avenue, Room EOC Centennial, CO 80112
Click Here for Brochure and Agenda PDF File
