Housing Catalyst strives to increase the availability of affordable housing in and near the city of Fort Collins.
One way we do this is by 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.
Housing Catalyst will review requests with regard to our mission and prudently consider whether participation will strengthen a project without weakening our ability to further our core work.
For those wishing to apply for a partnership with us, below is a list of the minimum criteria used for evaluation. Applications will be reviewed for potential partnerships with public, private, and/or nonprofit entities, as well as for housing development opportunities.
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 Housing Catalyst resources will increase benefit to low-income households, through an increased number of affordable units, lower housing costs, or both, and/or access to support services
- Market information as determined by Housing Catalyst showing demand for the proposed project
- Long-term affordability, with a preference for projects that achieve permanent affordability
- Opportunity for Housing Catalyst ownership, and/or 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 Housing Catalyst share in the developer fee?
- What is the project’s proximity to employment, transportation, schools, retail, and recreation?
- Housing Catalyst’s role in the long-term management of the project, including the opportunity to earn a reasonable management fee
- Degree and nature of risk for Housing Catalyst
- Degree to which Housing Catalyst’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. Housing Catalyst 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, Housing Catalyst prefers to work with partners with a local footprint. For instance, we prefer a project with local nonprofit ownership or a local developer whose developer fees are used to further affordable housing in Fort Collins.