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Allocation of


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									Colorado Division of Housing

Allocation of HB 08-1402 funds
HB 08-1402

Includes requirement that mortgage companies send out notices containing the following information

• Contact information for “loss mitigation” offices at the mortgage company. • The number for the Colorado Foreclosure Hotline



Made an allocation of $100,000 to the Colorado Division of Housing. The Division may grants the funds

• “to any local housing authority, public nonprofit corporation, or private nonprofit corporation for the sole purpose of providing outreach and notice of foreclosure prevention assistance.”




The Division employed the normal process of issuing requests for proposals and accepting applications. The Division publicly issued a Request for Proposals on August 15, 2008. The Division received nine applications from the following locations:

The selection process

Denver, Boulder County, Larimer County, Weld County, Adams County, El Paso County


Proposals were selected based on the following criteria:
• 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.


Staff passed on five applications to the Colorado State Housing Board based on how applications scored on selection criteria.
• • • • • Consumer Credit Counseling Services of Northern Colorado ACORN Adams County Housing Authority Del Norte Boulder County Housing Authority


The Colorado State Housing Board selected the following amounts be awarded to the following applicants:

Final grants made

• Adams County Housing Authority $45,000 (original request was for $100,000) • Boulder Housing Authority $17,000 (original request was for $23,000) • Consumer Credit Counseling Service $23,000 (original request was for $23,000) • Del Norte: $15,000 (original request was for $10,000)


Geographical areas covered by agencies awarded funds

• Adams County Housing Authority will cover the following areas: northeast Denver, northern Aurora, Adams County • Boulder County Housing Authority will focus on the Longmont area • CCCS of Northern Colorado will focus on Weld County but will also provide services in Larimer County. • DelNorte will target west Denver Latino and Hispanic households throughout the Denver metro area.


All grantee agencies share the following characteristics:
• Are HUD-approved housing counseling agencies. • Are members of the Colorado Foreclosure hotline network of housing counseling agencies.

Additional notes

• All agencies serve areas with high foreclosure rates. • All agencies demonstrated significant experience with housing counseling and with affordable housing projects and development.

Colorado Division of Housing Dola.colorado.gov/cdh

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