Thursday, December 23, 2010

Rocky Mountain HDC awarded $35,000

The Department of Local Affairs has announced that $35,000.00 in HOME CHDO Operating (HMCO) funds has been awarded to Denver County for the following project: Rocky Mountain Housing Development Corporation (RMHDC) will receive a $35,000 CHDO operating grant to conduct due diligence for rental housing projects (potential acquisition/rehabilitation &/or new construction projects). CHDO operating funds will be used for staff time spent on predevelopment activities including: researching and analyzing financing options, evaluating proformas, reviewing contracts, coordinating legal documents, etc. RMHDC has 15 years experience with service-enriched transitional and affordable rental developments in the Denver Metro area. RMHDC is exploring 6 potential projects, with 2 that seem likely for 2011(not including construction). Their projects are in Commerce City, Arvada, & elsewhere in the Metro area.