Success Stories
- Small Facility Loan - First Class Impact
- 'The Fourth Quarter' Victory
- Church in the City gets New Home
- Expanding Capacity to Serve the Homeless
- Preserving History, Creating Affordability
- A Permanent Home, with Room to Grow
- Moving into the Mountains
- A New Home for Delores
- Team Work = Preserving Affordable Housing
- Creative Re-use Key to Motel Rehabilitation
- Promoting Affordable, ‘Green’ Living
- Nonprofit Facilities Lending Brings New Opportunities
Small Facility Loan - First Class Impact
Since 1989 Capitol Hill Action and Recreation Group, Inc. (CHARG) has been providing health services free of charge to low-income mentally ill individuals in Capitol Hill and the Denver metro area.
CHARG purchased its current building, the CHARG Resource Center, in 1994 and provides counseling, psychiatric services, group workshops, and other activities for low income mental health consumers who might otherwise never access treatment. Serving approximately 500 people a year, the Resource Center is a place where mentally ill individuals can spend time and feel safe.
Located in the heart of Capitol Hill, the 100-year-old building had been generally well maintained, but was in need of major rehabilitation and upgrades, including the need for replacement of the entire plumbing and sewer system.
“This building is the cornerstone of the community we’ve built over the years,” said Executive Director David Burgess. “My biggest concern was that one of the pressurized water lines was going to break and completely ruin it.”
A $75,000 loan from MHCLF complemented a City of Denver grant, allowing CHARG to move ahead with the critical renovation. The $350,000 project included electrical system upgrades, window and roof replacement, a new main kitchen, new meeting spaces, remodeled kitchens and bathrooms in the two living units, interior and exterior paint, carpeting, flooring and landscaping.
“Typically, people with mental illness have been regulated to substandard facilities,” said Burgess, “By fixing this building we are giving our clients knowledge that they are as worthy of a first-class facility as anyone, and they take pride in the building.”
The CHARG project was the first funded under MHCLF’s recently established TUP Legacy Fund.
'The Fourth Quarter' Victory
William “Bo” Matthews is known to many as a former NFL football star who was the top draft pick of the San Diego Chargers from University of Colorado in 1974. Since retiring, however, Matthews has become a committed philanthropist.
In 2001 Matthews founded the first nonprofit Bo Matthews Center for Excellence (BMCE) in his home state of Alabama, which focused on academic support, tutoring and mentorship of underprivileged youth. Upon returning to Colorado in 2005 Matthews founded a Colorado nonprofit corporation of the same name but with a broader focus.
Matthews’ efforts started with a personal acquisition of a large building in Five Points to “incubate” local area nonprofits. The BMCE entity itself grew into an employment training and service provider for women transitioning out of the Department of Corrections and, more recently, for any homeless individuals referred through the Denver’s Road Home provider network. Within the last two years, BMCE has secured contracts with the City of Denver and the State to provide these services out of the BMCE center at 30th and Downing streets.
Matthews took bold action in 2008 to expand BMCE’s capacity to provide housing and services to homeless individuals. He and partner Claudie Minor assembled a development team and successfully competed for a 20-year annual subsidy from Denver’s Road Home initiative to provide housing and services in a proposed 28-unit rental development.
The site of the project – called Fourth Quarter Apartments - is on the southeast corner of Martin Luther King Boulevard and Downing Street. The 14,000 square feet site is made up of four parcels, three of which were already owned by Matthews.
Negotiations with the Good Neighbor Agreement contributed to the expansion the project to four stories and 36 units, and created the ability to diversify the income level of residents.
MCHLF assisted the project with two predevelopment loans - the first, a $75,000 unsecured loan made in 2008, and a second secured predevelopment loan for an additional $250,000 was made following the award of a tax credit allocation in 2009.
The Fourth Quarter project used the Tax Credit Exchange Program funded under the American Recovery and Reinvestment Act (ARRA) and administered by CHFA to secure the equity needed to proceed.
The project, when completed in 2011, will have 28 units restricted to 30% AMI, 5 units restricted to 50% AMI and three unrestricted units.
Church in the City gets a New Home
In August 2008, MHCLF made a loan to Church in the City to aid with the acquisition and renovation of the historic and vacant BMH Synagogue and the adjacent school building located on 16th Avenue and Gaylord Street. These buildings are now the new permanent home for the congregation that has become an important service provider for the local community.
This project, unique in many ways, was initiated when the St. Charles Town Company secured a contract for the redevelopment of the former Safeway site just off Colfax Avenue on York Street, where Church in the City leased space. The church and St. Charles Town Co. worked closely on relocation options that led to the acquisition and renovation of the BMH Synagogue property.
“This whole building was being destroyed,” said Pastor Michael Walker. “It was going to fall apart if someone didn’t come in and save it.” Both the congregation and the community rallied to help bring the long vacant building back to life. Volunteers worked tirelessly to help restore the historical building to its former glory, including new stained glass windows that are were remade and painted by congregation members.
But this project is about more than getting a church into a new home – it allows Church in the City to expand its services and recognizes its importance as a vital asset to the area. “We’ve been a part of this neighborhood for 18 years,” said Pastor Walker. “Staying here allows us to expand our community outreach services to the youth, homeless and the poor.”
Church in the City is one of the most economically and ethnically diverse congregations in the state. In addition to numerous worship services, the church opens its doors seven days a week offering various programs designed for youth, low-income, and developmentally challenged individuals and families.
Restoration was not limited to the sanctuary - a commercial kitchen and community dining area was added on the lower level that more than doubles their capacity for serving free meals to more than 200 people, most on whom are homeless. The church also added a large computer lab and several counseling and meeting rooms, increasing the number of groups and programs that can meet at the same time.
Other sources of funding for this project included $1.8 million in contributions and grants, and a $2.85 million loan from Key Bank.
“All are welcome,” said Walker. “This is a place for all people of all nations.”
Expanding Capacity to Serve the Homeless
Colorado Coalition for the Homeless (CCH) is an organization who’s programs, services, projects, and advocacy are 100% focused on the needs of often-overlooked homeless individuals and families throughout Colorado. CCH has been successful in garnishing the resources needed for all its programs, however, developing the facilities needed to maintain a comfortable work environment for its other important resource – personnel – had fallen behind schedule.
In order to relieve overcrowding and expand capacity for its client services and back office staff, CCH applied for and was given a $720,000 loan for the acquisition of additional office space at 2101 Champa Street in Denver, a building located next door to its current offices. With a strong track record in both the community and with MHCLF, the Fund was pleased to make their fourth loan to CCH.
Securing a location in the core downtown area was vital for CCH so they could continue to provide adequate services to the homeless community.
“We are in an area that is starting to rapidly gentrify,” said Dave Klimut, Director of Housing Development for CCH. “This is a strategic move for us as it allows us to stay in the same neighborhood and help those in need.”
Preserving History, Creating Affordability
In January 2007, Thistle Community Housing, with a nearly 20 year commitment to end the growing displacement of residents who can no longer afford to live in Boulder County, purchased The Cannery with a $1,420,000 acquisition and bridge loan from MHCLF with participation from Funding Partners.
The main building, the historical Empson pea cannery, was built in the early 1900s and converted into apartments in 1984. Two additional apartment buildings were constructed on the property the same year. The conversion created a campus of 94 unique apartments located only a few blocks from Longmont’s original downtown area.
In purchasing The Cannery Thistle took a beautiful and uniquely designed property and made it permanently affordable. The apartment complex offers 10 units at 60% AMI, 79 units at 50% AMI, and 5 units at 30% AMI.
“Boulder County is a high-income county,” said Sarah Batt, Financing Project Manager. “Any affordable housing that can be preserved and/or built in this community is very important."
A Permanent Home, with Room to Grow
After moving every two years for the past six years, Sisters of Color United for Education (SCUE) was looking for a permanent place to house their 20-year-old health education and advocacy organization.
SCUE was born out of the grassroots efforts of two Latinas, Belinda Garcia and Bernadette Berzoza, who were frustrated with the lack of proactive health services for women in the Latino community. They knew there were numerous free and inexpensive health service and education sources for women to learn about reproductive health and other health issues facing their families, but these resources were not reaching their community.
With the help of a $275,000 mini-perm loan from MHCLF, SCUE purchased a building located at 2895 W. 8th Avenue to house their offices and programs. SCUE also received a $250,000 grant from Denver Department of Housing and Neighborhood Development for the purpose of building acquisition.
“It was so important for Sisters to be able to purchase this building,” said Mary Loring, development specialist for the organization. “Not only does it accommodate our staff with room to grow, but the location is ideal as it is central to our participant demographic.”
The 9,100 square foot building is not only surrounded by predominately Latino neighborhoods, but is also located near excellent public transportation access, which ensures SCUE’s vision to offer Latinas and their families a safe and supportive environment in which to address sensitive health issues reflecting traditional Latino cultural values.
Keeping the emphasis on building trusting relationships and recognizing the impact of intergenerational familial relationships within the context of treatment, SCUE offers many services to the community.
In addition to health services, SCUE works with youth in the neighborhood. A number of those youth have designed and painted murals that show how they see the world around them. The murals are both inside and outside of the new building.
Now with a permanent home, SCUE’s impact continues to grow as they reach out to and help more than 2,500 people every year.
Moving Into the Mountains
Since 1994 Blue Spruce Habitat for Humanity, the Habitat affiliate serving the mountain communities of Jefferson County, has, with the help of more than 500 volunteers, completed 21 homes for people who live, work, have children in schools and are a vital part of the mountain communities.
“There is a need for housing for people who live here, work here and support the community,” said Kathleen O’Leary, executive director for Blue Spruce. “These homes are an important part of the mountain community as there are no other organizations currently building affordable housing in this area. “
In July 2007, Blue Spruce needed short-term financing to keep the construction of a duplex in Kittredge, Colorado on schedule. The quick processing and favorable terms available through MHCLF had previously caught the attention of a Blue Spruce Board member. Blue Spruce approached MHCLF and was given a $150,000 construction loan. The homes were completed in December 2007 with the families moving in right before the holidays.
A true community project, the lot on which the duplex sits was bought with a $20,000 grant from the Colorado Division of Housing and is the first of 14 additional lots in the area assembled for Blue Spruce housing projects. Funds and in-kind donations for this project were also made available from more than 17 private contributors and community organizations including Jefferson County Community Development, Colorado Housing and Finance Authority, Daniels Fund, and Colorado Association of Realtors Housing Opportunity Foundation.
A New Home for Delores
Each night in the City of Denver, more than 800 women find themselves homeless and without a safe place to sleep. The overwhelming need for safe shelter for women prompted The Delores Project to begin an expansion project that centered on developing a permanent, year-round shelter for more women.
The Delores Project, which opened its doors in 2000, is an overnight shelter that houses adult women who might otherwise have to sleep on the street or in circumstances that put them at great risk. Women seeking shelter are offered a safe, comfortable place to stay while seeking more permanent housing.
As part of Denver’s Road Home initiative, the City of Denver donated the former community center building at 12th and King Street to the Delores Project along with a $700,000 grant (which also included funds from the State Division of Housing) for the building’s renovation. This new building allows The Delores Project to shelter up to 50 women, with overflow space for an additional 25 in times of severe weather.
The need for Mile High Community Loan Fund arose when it became evident the renovation grant could not be awarded in time for construction to be completed before the winter of 2006. With the help of a $700,000 bridge loan from MHCLF, The Delores Project was able to keep the project moving forward and the new facility opened its doors to women in need for the first time on December 20, 2006 – the first day of many major snowstorms in Denver that year.
Team Work = Preserving Affordable Housing
Mile High Community Loan Fund played a key role in preserving 20 affordable units at the Belmont Manor apartment complex when the owner, a nonprofit affordable housing organization, went into dissolution. The Lakewood Housing Authority (LHA) needed an 18-month, $900,000 loan in order to bridge tax-exempt bank qualified financing in 2007. With cooperation and support from the City of Lakewood, State Division of Housing, Colorado Housing and Finance Authority, Mountain States Bank, and $202,000 of additional equity, LHA was able to acquire the property.
Upon taking title of the property, LHA immediately began renovating the 10 units that had yet to be updated and were vacant at the time of purchase. Renovations included new carpet, balcony replacements, new appliances, as well as installing energy efficient windows.
Located within walking distance of a supermarket, Senior Center, recreation center and public transportation, the property is ideal for seniors.
Creative Re-use Key to Motel Rehabilitation
The purchase and renovation of the Briarwood Inn by Longmont Housing Authority (LHA)represents the best of what Mile High Community Loan Fund aspires to do – support the development of deeply affordablehousing and nonprofit facility space.
With the help of a $740,000 acquisition loan from MHCLF, LHA was able to take advantage of an opportunity to buy an 18-unit motel in downtown Longmont with the intent of transforming it into 10 emergency and transitional, single-room occupancy units and the administrative headquarters for the organization.
LHA’s innovative vision, sensible plan and strong track record allowed MHCLF to underwrite the loan despite a high loan-to-value and no committed permanent take out sources. Given MHCLF’s flexible terms and competitive interest rate, LHA had the time to secure grants and other permanent sources to pay for 100% of the cost of the housing component of the project.
Renovations were complete in fall 2007, and LHA relocated its offices to the Briarwood facility. The individual units at Briarwood Inn have been master leased to nonprofit emergency service providers in Boulder County to assist the homeless and special needs individuals.
Promoting Affordable, ‘Green’ Living
Peak Properties, a for-profit developer of affordable housing, came to Mile High Community Loan Fund in 2006 with an unusual request; they needed a $300,000 loan for the purchase of Colorado Big Thompson water shares required by the City of Lafayette for the development of a 100% affordable (40% and 50% AMI) 60-unit rental town home project – Eagle Place.
The loan for Eagle Place, located a quarter mile form the local elementary school, is a prime example of a project that fits MHCLF’s mission as it facilitates the development of deeply affordable family housing in a stable neighborhood with excellent schools.
The City of Lafayette requires all housing developers that seek to be annexed into the city to acquire water shares that are deeded to the town at time of purchase. MHCLF was able to facilitate the acquisition of the necessary water shares with a loan secured by a subordinate Deed of Trust on the project site.
In addition to providing affordable two- and three-bedroom family town home units in the expensive community of Boulder County, Eagle Place is a LEED certified green-build project using state-of-the-art energy efficient technology in all of its building systems.
Nonprofit Facilities Lending Brings New Opportunities
In one of the first nonprofit facility loans it closed, Mile High Community Loan Fund helped a Denver community better meet its needs.
Mile High Community Loan Fund provided a $365,000 loan for the creation of the 9,500 square foot Cross Community Coalition Family Resource Center, which began serving the Globeville-Swansea-Elyria neighborhoods in 1988. Over the years, they have expanded services and realized that more community members would benefit from the creation of additional program space. The leaders of the Coalition began a capital campaign to bring this idea to life.
MHCLF is proud to have been a partner in the development of CCC’s new location. This $1.8 million project has created an improved focal point for the neighborhood, and a place for residents to receive literacy training, parenting classes, computer skills training, and health care.
Cross Community Coalition, which offers 18 programs in both Spanish and English, serves approximately 600 individuals who make 2,000 visits per month.