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Eligible Borrowers Mile High Community Loan Fund (MHCLF) provides short-term loans to Non Profit and For Profit organizations for, 1) the development or preservation of affordable housing, 2) the development, redevelopment or renovation of commercial real estate in targeted neighborhood revitalization areas, and, 3) Non-profit organizations that serve low-income populations for the purchase and/or construction of facility space. MHCLF provides loans for projects located throughout Colorado. Rates and Fees Rates are set at the time of loan approval....
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We would like to thank our many partners, past and present, including private foundations, banks and the local municipalities who have provided support and financial resources to make our loan programs possible. They are our lifeblood, and their continued support makes our work possible. For the past two years MHCLF has closed a record dollar volume of loans made possible, in part, by our investors. Every year investors step up to demonstrate their continued belief in the work...
Mile High Community Loan Fund was founded in 1999 to provide a source of early stage capital for organizations developing affordable housing in the City and County of Denver. Originally known as the Denver Neighborhood Housing Fund, the organization was initially capitalized by the City and County of Denver. Denver’s investment leveraged grants and early investments from US Bank, Enterprise Foundation and the Fannie Mae Foundation. Today, MHCLF has grown to be a $14 million loan fund that has...
Sean Doherty – Executive Director Sean Doherty joined Mile High Community Loan Fund in 2015. He serves the 14-member Board of Directors and leads the organization’s effort to attract new investors., implement MHCLF’s strategic growth plan, promote MHCLF’s products to affordable housing developers and other nonprofit community based organizations and ensure the financial security and integrity of the Fund. Prior to joining the organization, Mr. Doherty worked as Chief Financial Officer/Director of Portfolio Management of Baltimore Community Lending,...
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Mile High Community Loan Fund invests in affordable housing and other assets to improve economic opportunities of low income persons and communities.
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Affordable Housing Success Stories
MHCLF recently closed a $250,000 secured predevelopment loan to MGL Developers, a Denver-based affordable housing development group. MGL received a 9% LIHTC allocation in 2013 for their Animas Apartments project in Durango. The project will serve families with 5 units at 30% AMI, 15 units at 50% AMI and 30 units at 60% AMI. Fifty apartments, half one-bedroom and...
MHCLF teamed up with Funding Partners to provide a $2 million subordinate acquisition loan to help Metro West Housing Solutions acquire Marston Pointe Apartments in Lakewood. The 160-unit complex built in the late 1990s was approaching the end of its tax credit compliance period and it becomes the tenth apartment community property in MWHS’s portfolio. The loan request exceeded...
Three hundred low-income families and seniors are enjoying lower energy costs thanks to a $1.05 million weatherization project managed by Energy Outreach Colorado (EOC) and funded, in part, by a five-year $325,000 MHCLF mini-perm loan. The affordable housing community, owned by Rocky Mountain Communities, was upgraded with the installation of new heating boiler plants in each of the 14...