Weld County delegates 2022 private activity bond cap to Colorado Housing Finance Authority

Weld County commissioners approved a resolution on Sept. 3 to delegate authority to the Colorado Housing Finance Authority (CHFA) to issue bonds using the county’s 2022 private activity bond volume cap.

Cheryl Patelli from the county finance office said the resolution transfers Weld County’s 2022 private activity bond cap, which she stated at the meeting as $8,574,009.00, to CHFA and recommended the board’s approval. The board moved and approved the resolution without further recorded discussion; the motion was moved by Commissioner Scott James and seconded by Commissioner Kevin Ross.

Discussion versus action: The board’s vote was a formal delegation of the county’s 2022 private activity bond cap to CHFA. The resolution authorizes execution of a delegation agreement and any necessary documents to effect the transfer.

Clarifications and limitations: The action delegates the county’s volume cap for private activity bonds for eligible low- and middle-income housing financing; it does not itself authorize any CHFA bond issuance or local spending. Any project financed using the delegated cap would proceed under CHFA’s processes and applicable federal and state rules.

What to watch next: Project sponsors and CHFA materials will show whether the delegated cap is used for specific housing financings and the timeline for any bond offerings.