Since 1983, El Paso County has financed the development of thousands of units of multifamily housing through the issuance of tax-exempt bonds. This is primarily accomplished through the issuance of Private Activity Bonds (PAB), which are typically coupled with federal Low Income Housing Tax Credits (LIHTC). These projects range from newly constructed complexes to acquired and rehabilitated properties in return for a lower interest rate on the loans and potential tax credits. In exchange, each project sets aside some or all of their units for County residents of low- to moderate-income. While some of these projects are no longer subject to these restrictions, the following developments still provide some of their units for affordable housing pursuant to County guidelines.
Recent El Paso County Multi-Family Partnerships
2022
- Panorama Heights: 133 units of multifamily workforce housing <under construction>
- Artspace: 51 units of multifamily artist housing <under construction>
2020
- Alpine Vista: 242 units of multifamily workforce housing
- The Creek at Cottonwood: 258 units of multifamily workforce housing
2019
- Winfield Apartments: 160 unit acquisition and rehabilitation of currently existing affordable housing units
El Paso County PAB Specifics
Fee Structure
Issuer Closing Fee: .40% (40 bps)
Annual Compliance Fee: .15% (15bps)
Maximum Funding Amount
Due to the highly competitive nature of Private Activity Bonds, PAB will only be awarded for 51-55% of the eligible aggregate basis.
For inquiries regarding Private Activity Bond applications, please contact Crystal LaTier or Randi Davis.