Jefferson County committee recommends $13.2 million in private activity bond allocations for two affordable housing projects

County staff recommended on July 8 that Jefferson County assign $13.2 million of its 2025 private activity bond (PAB) allocation to two affordable housing projects and bring the formal assignment to a future hearing for approval.

Dan Conway, presenting for the county’s strategy, innovation and finance team, said the county received four applications this year and the review committee recommended two allocations: $10 million to Archway Investment Corporation on behalf of the Colorado Housing and Finance Authority for a project called Creekside Flats (described as 150 transit‑oriented affordable units), and $3,200,000 to the Jefferson County Housing Authority doing business as Foothills Regional Housing for 200 affordable units. Conway said the county’s total 2025 allotment is $13.2 million and the committee’s recommendation would allocate the full amount.

Commissioners asked whether applicants may seek allocations from multiple issuing jurisdictions and whether an applicant can pursue PABs for a project whose street address is outside Jefferson County. Conway said applicants commonly pursue multiple sources, including local jurisdictions and the state cap, and that the county can transfer unused allocation to another issuing jurisdiction before the state deadline. Board members identified an address used in Archway’s application that appears to be within the City and County of Denver but bordered by Lakewood; staff said they would follow up to confirm jurisdictional details and to see whether the county could receive credit for transit‑oriented development (TOD) when projects in border areas serve regional housing goals.

Conway described procedural improvements to the county’s PAB application process this year, including a structured online application and a scored review committee. Commissioners expressed support for the recommended awards but directed staff to follow up on jurisdictional and TOD‑credit questions before the formal hearing. The board did not adopt a final assignment on July 8; the recommendation will return to a future hearing with assignment agreements and forms reviewed by the county attorney prior to execution.

Ending: The board endorsed staff’s recommendation in principle, asked staff to confirm jurisdictional and TOD-credit details for the Archway/Creekside Flats application, and set the assignments for a future formal hearing and execution if approved.