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Council assigns private-activity bond allocation to fund 144-unit Ascent affordable housing on Salt Flats
Summary
City council approved assigning carryforward and 2025 private-activity bond (PAB) volume cap to the Colorado Housing and Finance Authority for the Ascent at Salt Flats project, unlocking low-income housing tax credit equity for a 144‑unit development that targets 30–70% AMI.
Grand Junction City Council on July 7 voted to assign the city’s available private-activity bond (PAB) volume cap to the Colorado Housing and Finance Authority to support Ascent at Salt Flats, a proposed 144‑unit affordable rental development. The council authorized delegating carried-forward 2023–24 PABs and the city’s 2025 allocation to CHFA so the developer can access low-income housing tax credit equity and other financing tools. The action matters because PAB allocation allows projects to combine tax credit equity without competing in the annual statewide competitive round, potentially accelerating delivery of deeply affordable units. City housing staff said the city carried forward about $8.28…
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