Affordable housing cap increases pass

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Additional funds for affordable housing will be available through the increases in the private activity bond and low-income housing tax-credit volume caps that were included in the omnibus spending bill Congress passed on Dec. 15. In Colorado this will create an additional $100 million in private activity bond activity. It will also result in an additional $2 million in housing credits. These cap increases will allow for the creation or preservation of more affordable housing in the state, according to the Colorado Housing and Finance Authority (CHFA). It will also allow more lower-income homebuyers to purchase their first home with rates and terms they can afford.