Page 47 - 2014_15CommunityRpt_FlipBookPDF

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1975-78 the historic big
thompson flood
chfa homeownership
programs launch More than 140 lives were lost, and hundreds
of homes were destroyed or damaged in the
In 1975, CHFA issued $28 million in bonds Big Thompson Flood of 1976. Soon after the
and launched its Loans-to-Lenders home disaster, Glenn Rye, chairman of the Housing
purchase program, which saw great success. Authority of the City of Loveland, spearheaded
It followed with the Single Family Mortgage an effort to provide decent housing for the
Purchase program launched in 1978, which many elderly left homeless by the flood. As a
enabled CHFA to act as a “secondary market” result, both CHFA and the Colorado Division of
by purchasing home mortgages provided by Housing secured funds for the construction of
participating lenders to low and moderate Silverleaf II, a 72-unit development in Loveland.
income buyers.
“It’s a good place for these senior citizens to
“Everything fell into place all at once—the low settle down again,” said Ron Jones in 1977,
interest rate and the house across the street,” Executive Director of the Silverleaf project.
said Eileen Arrington in 1978, one of CHFA’s
first borrowers.

Left: Eileen Arrington with her daughter, a homeownership customer in Denver
Right: Media coverage of the Big Thompson Flood and Silverleaf II, a multifamily customer in Loveland