The La Plata Homes Fund is a winner of Colorado Housing Finance Authorities’ inaugural “David W. Herlinger Direct Effect Awards,” the program announced in a news release.
The award was created in honor of the Finance Authorities’ 40th anniversary to recognize Colorado nonprofits whose work align with the mission of supporting affordable homeownership, developing or preserving affordable rental housing, and investing in Colorado businesses.
“As we reflected on the work CHFA has done throughout our 40-year history, it was important to us that we honor those nonprofits who we have been working alongside within their respective communities,” said Cris White, Colorado Housing Finance Authorities executive director and chief executive officer, in the release.
Earlier this year, Colorado Housing Finance Authorities invited Colorado nonprofits to apply for the $10,000 awards. Ninety-six applications were received, each providing compelling overviews about how the award could aid each unique nonprofit in advancing their mission.
Winners were selected by a panel of judges comprised of Colorado Housing Finance Authorities staff and board members.
The La Plata Homes Fund, or LPHF, was created in 2008 to address the need for workforce housing in La Plata County.
“We empower working families with the tools and resources to achieve homeownership,” said La Plata Homes Fund Executive Director Karen Iverson, in the release. “In Durango, where we have a high-cost housing market and relatively low wages, homeownership can be especially challenging.”
Specifically, La Plata Home Fund provides second mortgages to bridge the gap between what households can afford and the market rate for entry-level housing. They also provide comprehensive homebuyer education and counseling programs, the release said.
The other recipients were the Residences at Eaton Senior Communities, Lakewood; Rocky Mountain Community Land Trust, Colorado Springs; and San Luis Valley Development Resources Group, Alamosa.