Private Activity Bonds (PABs) offer low-cost financing to encourage private sector investment in communities throughout the country. PABs support investment in projects that increase the tax base of a local community, including: (1) affordable housing, (2) economic development/manufacturing, (3) infrastructure, and (4) environmental projects.
The City of Arvada annually receives a PAB allocation from the Colorado Department of Local Affairs that allows tax exempt bond financing for a variety of economic development and/or affordable housing projects. The City’s 2020 PAB allocation is $6,391,135.
The City of Arvada is accepting applications for the City’s 2020 Private Activity Bond allocation. Applications will be accepted for the development or preservation of affordable housing in Arvada.
SCHEDULE OF PAB ACTIVITIES
- 1. Announce Request for Applications May 1– June 30, 2020
- 2. Application Submission Deadline – June 30, 2020
- Submit application and all supporting documentation electronically to: Carrie Espinosa Manager of Housing Preservation and Resources City of Arvada firstname.lastname@example.org
- 3. City staff to review PAB applications- July 2020
- 4. City staff to present recommendation to City Council; City Council evaluates options and approves recommendation for PAB – August 2020.
Below are the City of Arvada PAB Application and Policy
Please contact Carrie Espinosa at 720-898-7475 or by email at email@example.com with any questions.
- by City Manager