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Affordable Housing Resources for Developers

Thank you for your interest in developing/and or preserving affordable housing in Aurora.

Aurora Housing Strategy 

The Aurora City Council approved the Aurora Housing Strategy in December 2020 to help guide policymakers, city staff, housing developers and community members in achieving a city for all Aurorans. Developers are encouraged to get familiar with the policies and strategies outlined at AuroraGov.org/HousingStrategy to understand Aurora’s vision for housing.  
                Housing Strategy Framework

Start with Our Development Center 

Like any development project in Aurora, please start with the city of Aurora Development Center.  

Resource Guide 

City staff is currently working on updating the Resources Guide for Developers on Affordable Housing (downloadable and printable version), which is expected to be published July 2024 and captures much of the information on this webpage. 


Community Investment Financing (CIF) Program

The Community Investment Financing (CIF) program provides gap financing through loans or grants for developers interested in creating and/or preserving affordable housing in the city of Aurora. The city provides two funding opportunities per calendar year (spring and summer). CIF applications are evaluated based on alignment with the policies and goals of the Housing Strategy.

2024 CIF Resources 

CIF 2024 spring round application

The following funds are available for developers in the spring 2024 round to support the city’s housing goals included in the Aurora Housing Strategy.

  • HOME Funds – $2,020,501
  • CDBG – $2,724,202
  • Private Activity Bonds - $24,617,884 

Application

The application for this round is now closed. Stay tuned for the summer round of funding application. 

Award Terms

CIF applicants will be required to acknowledge the following award terms during the application process. 

  • CIF funds may be awarded to the project in the form of a grant or a loan, at the sole discretion of the city. The city of Aurora reserves the right to manage, operate and administer all funding in its sole and absolute discretion, as it deems appropriate.  

  • CIF funds may be loaned in the form of a Cash Flow or Must Pay Loan Terms, at the sole discretion of the city. The city of Aurora reserves the right to manage, operate and administer all funding in its sole and absolute discretion, as it deems appropriate. 

  • CIF funds are required to follow compliance guidelines of federal regulations such as the Davis-Bacon Act, Section 3, Build America, Buy America Act, Environmental Reviews and overall local and federal compliance requirements. As a grantee of federal funds, the city of Aurora is responsible for administering, monitoring, and reporting on the use of the funds.  

Funding Sources

Frequently Asked Questions about CIF Program

Click the button below to see a map of projects funded through the Community Investment Financing Program. 


Compliance, Monitoring, and Reimbursement Draws 


Letter of Support 

Do you need a letter of support for your development project? If so, please email [email protected] with your request. 


Community Housing Development Organizations 

The U.S. Department of Housing and Urban Development (HUD) requires the city to set aside 15% of HOME funds each year for non-profit organization(s) to serve as the city’s community housing development organization (CHDO). This organization(s) must apply for the role and meet strict requirements set by HUD. The CHDO Certification and Recertification Manual includes instructions, requirements and the application for the program. 

Download the CHDO Certification and Recertification Manual (PDF)


Other Resources 

  • HUD Exchange
    Provides additional information on U.S. Housing and Urban Development (HUD) Funds such as HOME, CDBG and Environmental Assessments.  

  • CHFA Colorado
    Provides additional information on Private Activity Bonds, Tax Credits and provides industry webinars and more. 

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