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URA approves early transfer of Tract F to housing authority to secure $4.7M state grant for for‑sale homes
Summary
The Commerce City Urban Renewal Authority voted to consent to an early transfer of part of Tract F to the Commerce City Housing Authority so the housing authority can accept a Colorado Housing and Finance Authority award of about $4.7 million to support 124 for‑sale homes targeted at roughly 70–90% AMI.
The Commerce City Urban Renewal Authority (URA) approved a consent for an early transfer of part of Tract F to the Commerce City Housing Authority, enabling the housing authority to accept an award of approximately $4.74 million from the Colorado Housing and Finance Authority (CHFA) to support construction of about 120–124 for‑sale, deed‑restricted homes in the Greyhound Park area.
Rita Connerly, counsel for Tract F LLC and Del West (the tract owner/developer), asked the URA to consent to an early transfer because a certificate of occupancy attached to Tract F LLC will not be issued until 2026 and CHFA required the housing authority to own the parcel before a November 19 award deadline. Connerly said the 2020 deed that transferred land to Tract F LLC restricted transfers to non‑affiliated entities until a certificate of occupancy…
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