Housing Catalyst Revolving Loan Fund

Housing Catalyst Revolving Loan Fund

Purpose: Low-interest revolving loan fund to support local workforce housing initiatives in the construction financing and early development stages. Designed to work in perpetuity in La Plata County.

Geographic Scope: La Plata County, Colorado

Focus Areas:

Infrastructure development costs

Short-term construction financing

Early-stage development funding

Support for projects already permitted and in construction financing stage

Funding Source: $950,000 grant from Durango Industrial Development Foundation (DIDF) awarded April 3, 2024

Target Projects:

Workforce housing projects committed to below-market pricing

Projects that are stalled due to high cost of money

Projects in construction and financing stage

Program Design:

Low-interest loans leveraged with other lending sources

Created as part of a creative capital stack approach

Designed to produce pipeline of below-market housing units

Works in collaboration with Housing Catalyst Fund (pre-development)

Administration: La Plata Economic Development Alliance administers on behalf of Regional Housing Alliance of La Plata County

Governance: Regional Housing Alliance of La Plata County (RHA) - Multi-jurisdictional authority created in 2004 by members: La Plata County, City of Durango, Town of Ignacio, and Town of Bayfield

Background: DIDF established in 1970s to build industrial park; now directed to address critical workforce housing needs in community

Contact: laplatahousing.colorado.gov