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:
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 2024 PAB allocation is $7,753,280.
The City of Arvada is accepting applications for the City's 2024 Private Activity Bond allocation. Applications will be accepted for the development or preservation of affordable housing in Arvada.
Schedule of Private Activity Bond Activities
Announce Request for Applications January 26, 2024 - February 23, 2024
Application Submission Deadline - February 23, 2024
Submit the application and all supporting documentation electronically by email to Sam Bradley, Affordable Housing Development Specialist, City of Arvada.
City staff to review PAB applications - March 2024
City staff to present a recommendation to City Council; City Council evaluates options and approves recommendation for PAB - August/September 2024
The following are the City of Arvada's PAB Application and Policies: