Dear Friends and Supporters
In 2016, Mile High Community Loan Fund (MHCLF) continued to deliver meaningful impacts to Colorado communities. Eleven closed loans will support the development of 713 units of affordable housing and over 74,000 square feet of community space. During the year, MHCLF added to its robust portfolio of community facilities loans with the funding of a growing youth corps center in Routt County as well as an urban farming operation in Denver. MHCLF was pleased and honored as two current investors increased their funding support in 2016 for our mission going forward. Additionally, two new donor organizations provided much appreciated operating support to the organization. We are sincerely grateful for the continued support we received from historical donors in 2016 as well.
We are very excited to report, on May 1, 2016, the MHCLF acquired Funding Partners for Housing Solutions (FP) another highly regarding CDFI serving the affordable housing needs in Colorado. The two entities currently retain unique identities, but operate under a common governance and management umbrella. MHCLF and FP have worked in exceptional, close-collaboration over the years to maximize availability of capital for the benefit of low and moderate-income households across Colorado. With similar commercial business models and compatible product sets, the two organizations have regularly participated in funding residential projects, advanced policy initiatives and promoted greater collaboration within the CDFI industry. Bringing two strong organizations closer together provides a launch point for profound advancement in creating access to capital that could not be otherwise achieved.
In 2017 MHCLF will leverage the influence of these two strong brands, expanding existing relationships and forging new ones as the organization pursues its goal of reaching more people and improving the quality of life in Colorado’s distressed communities.
MHCLF wishes to express its sincere gratitude to Michael Reis, our former board President who completed his term at the end of 2016. Michael served the organization with distinction and selflessness. His commitment, leadership and contributions to the organization were substantial and he will be missed.
Debra Gray Sean Doherty
President Executive Director