AHA Development Participation
It is the mission of the Housing Authority of the City of Aurora (AHA) to develop affordable, supportable and quality housing for the residents in Aurora. AHA believes that this mission includes the encouragement of additional affordable housing opportunities created by other developers.
AHA will consider participation proposals for the development of affordable and/or low-income housing, in order to expand the opportunities for suitable living environments free from discrimination.
This policy is designated to provide guidance to both non-profit and private affordable housing developers (“Developers”) regarding procedures that AHA will use in evaluating participation proposals from other developers. This application process is not competitive: each project will be evaluated on its individual merits. AHA reserves the right to accept or reject any proposal, and/or to revise, change, modify, or eliminate this policy at anytime, in its sole and absolute discretion.
Real Estate Tax Exemption
Properties owned by the Aurora Housing Authority are exempt from real estate taxes. The Colorado Revised Statues, Section 29-4-227, provides, in relevant part, that the portion of a project that is occupied by persons of low income and is owned by or leased to an entity (1 )that is wholly owned by a housing authority, (2) in which an authority has an ownership interest, or (3) in which an entity wholly owned by a public housing authority has an ownership interest, is exempt from the payment of property taxes or fees to the state or any subdivision thereof. This exemption is a privilege; thus, AHA wants to ensure that any partnership into which it enters is in alignment with the AHA mission, and provides benefits to the community and residents.
Because AHA has limited staff and financial resources, it is necessary to establish the procedures and criteria that AHA staff will use to evaluate and recommend proposals submitted by developers for approval by the AHA Board of Commissioners.
Proposals must be submitted, in writing, to the Executive Director of the Housing Authority of the City of Aurora. See the policy and procedures.