Business & Cooperative Programs (BCP)
Business & Industry (B&I) Guaranteed Loan Program:
Visitors to Silverthorne, Colorado will soon have another affordable option in lodging. The Pad Hostels, LLC recently was awarded a $4.5 million Business and Industry Guaranteed Loan from USDA. The funding will allow for the construction of a 116 bed hostel in Silverthorne. The hostel will be a unique addition to the community as it will partially be built out of shipping containers. Once complete, it will feature 12 dormitories, 10 private rooms, and 12 extended stay rooms.
Limon, Colorado will also be getting a new hotel. A $6.725 million B&I Loan was awarded to Oasis Hospitality, LLC for the construction of a 83 room La Quinta Inn and Suites. The hotel will feature an indoor pool, fitness room, lobby workstation, market pantry, and a guest laundry. The project will create 25 jobs.
For more information on the Business & Industry Guaranteed Loan Program click here.
Community Facilities (CF) Program:
Construction is continuing at a rapid pace for the new Habitat for Humanity of the Roaring Fork Valley ReStore in Glenwood Springs, CO (pictured above). Once complete, the new building will allow the entity to consolidate three rental buildings into one location that they own. The new location will also facilitate increased donations of construction materials and household items, divert more materials from the local landfills, and provide stable full-time jobs to community members who would otherwise have trouble finding full-time sustainable work in a tourism area. The building will also include features to minimize its long-term life-cycle costs such as using energy efficient LED lighting and a Photovoltaic Solar Array.
Habitat for Humanity utilizes sales from the store to support its homeownership programs in the local community. Construction is tentatively slated to be completed in the Fall of 2017.
For more information on the Community Facilities Program in Colorado, click here.
Water and Environmental Programs
Providing financial assistance to help very small, financially distressed rural communities extend and improve water and waste treatment facilities that serve local households and businesses is our goal. Good practices can save tax dollars, improve the natural environment, and help manufacturers and businesses to locate or expand operations throughout rural Colorado. Funding is available for communities of 10,000 or less.
For more information on our Water and Waste Water Programs in Colorado, click here.
Rural Development’s Direct and Guaranteed Loan Programs provide rural residents an opportunity to make a house become a home. Our Direct Loan Program provides a path to homeownership for low- and very-low-income families living in rural areas who would not qualify for conventional home mortgages. Our Guaranteed Loan Program gives local lenders the opportunity to make home loans to eligible low and moderate income families living in rural areas. Providing affordable homeownership opportunities promotes prosperity, gives stability to families, and attracts new employees for expanding businesses. This, in turn, creates thriving communities and improves the quality of life in rural Colorado.
So far this year,1140 rural homeowners have found that special place to call home through Colorado Rural Development. Remember, whether you choose a direct or guaranteed loan, USDA’s programs offer buyers a low, fixed interest rate, with no mortgage insurance or no down payment. For more information on our programs click here.
Last Housing Forum Scheduled This Month
Don’t miss your chance to attend the final Housing Forum Colorado 2017 in Buena Vista on July 26th. The forums are sponsored by the Colorado Housing and Finance Authority (CHFA). This is an opportunity for lenders, Realtors and other housing professionals to hear the latest program updates from Rural Development, Federal Housing Administration, Veterans Administration, CHFA, and Colorado Housing Assistance Corp. Real Estate Professionals can receive continuing education credits. For more information and to register visit http://www.chfainfo.com/hfc.
Multi-Family Housing (MFH)
Finding a place to rent that feels like home
USDA Rural Development provides financing for affordable multi-family rental housing in rural areas for very low to moderate income, elderly and disabled individuals and families all across Colorado. We have financed 116 properties designated for either senior or family living. Rural Development does not manage these properties, however, anyone interested in finding an affordable rental unit in a rural area in Colorado should click here to find properties in a county near them.
Rural Development publishes Notices of Solicitation of Applications (NOSAs) or Notices of Funding Availability (NOFA) in the Federal Register. NOSAs and NOFAs provide program information organized in a consistent way to easily and quickly find information regarding Rural Development Opportunities. For more information on current notices click here.
Currently the following application windows are open:
Community Facilities Program Technical Assistance and Training Grants – Applications due July 24, 2017
More information on this program can be found by clicking here.
Rural Community Development Initiative (RCDI) Grant -Applications due July 25th
For more information click here.
USDA Seeks Applications to Help Socially Disadvantaged Ag Producers and Rural Business Owners – Applications due August 1, 2017
For more information on how to apply for this program click here.