Housing Catalyst (HC) strives to increase the availability of affordable housing in and near the City of Fort Collins.
One way we do this is through partnering with others. Housing Catalyst brings many benefits to these partnerships, including fee waivers, low-interest rate financing, tax exemption, affordable housing development, property management and human services expertise.
HC will review requests with regard to our mission and prudently consider whether participation will strengthen a project without weakening the ability of HC to further its core work.
For those wishing to apply for partnership with HC, below is a list of the minimum criteria used for evaluation by HC. Applications will be reviewed for potential partnerships with public, private, and/or nonprofit entities, as well as for housing development opportunities to be undertaken by HC.
Criteria include but are not limited to:
- Whether a proposed project includes households that earn 30-50% of Area Median Income (AMI) on rental projects, or 60% and below AMI for homeownership projects
- How HC resources will increase benefit to low-income households, through increased number of affordable units, lower housing costs, or both, and/or access to support services
- Market information as determined by HC which shows demand for the proposed project
- Long-term affordability, with a preference for projects that achieve permanent affordability
- Opportunity for ownership by HC, and/or HC buy-out options after 20-30 year affordability period
- Does the proposal demonstrate development capacity, experience and commitment to the targeted population?
- To what extent will HC share in the developer fee?
- What is the project proximity to employment, transportation, schools, retail, and recreation?
- Role of HC in the long-term management of the project, including the opportunity to earn a reasonable management fee
- Degree and nature of risk for HC
- Degree to which HC’s ownership interest is commensurate with the financial benefits it brings to the project
- Projects in which all or a portion of the units are designed to serve special needs population, such as elderly or persons with disabilities, may receive special consideration
- Early coordination is important. HC prefers to be involved in a project at the beginning to ensure the level of quality expected of its projects and partners. Early coordination can also help maximize or preserve local resources utilized by all affordable housing developers, such as CDBG, HOME, Private Activity Bonds, etc.
- To further protect and utilize local resources wisely, HC prefers to work with partners with a local footprint. For instance, a project with local non-profit ownership or a local developer whose developer fees are used to further affordable housing in Fort Collins is preferred.