C.R.S. Section 29-4-714
Powers of the board

  • home improvement loans
  • purchase of such loans
  • loans to lenders

(1)

Upon the approval by the board of a plan pursuant to section 29-4-713 and upon or prior to the authorization of bonds or other financial arrangement to implement the plan, the board shall authorize the executive director to:

(a)

Make home improvement loans and commitments therefor to sponsors;

(b)

Invest in, purchase, participate in the purchase of, make commitments for the purchase or participation in the purchase of, and take assignments from lenders of home improvement loans;

(c)

Make loans and commitments therefor to lenders for the purpose of making funds available for home improvement loans.

(2)

Home improvement loans may be insured or uninsured and may be made with such security, or may be unsecured, as the board deems advisable.

(3)

Notwithstanding anything in the provisions of sections 29-4-711 and 29-4-712, the authority shall require, as a condition of a loan to a lender under this section, that the lender invest the proceeds of such loan in home improvement loans or in short-term obligations pending the making of such home improvement loans.

(4)

Loans to lenders under this section shall be subject to the provisions of section 29-4-712 (6) and (7).

(5)

Home improvement loans made or acquired by the authority under this section or made by a lender with the proceeds of a loan under this section shall be to families who qualify as low-income or low- or moderate-income families.

(6)

In addition to the other powers granted by this part 7, the authority shall have the power, with respect to home improvement loans, the purchase of such loans, and loans to lenders under this section and section 29-4-713, to collect and pay reasonable fees and charges, to exercise the powers enumerated in section 29-4-710 (1)(c) to (1)(m), and to establish the terms and conditions of such loans, loan purchases, and loans to lenders by rules and regulations, including but not limited to rules and regulations as to:

(a)

The alterations, repairs, and improvements which may be financed with home improvement loans;

(b)

The term, interest rate, and principal amount of home improvement loans made by the authority or by lenders and the purchase price of such loans purchased by the authority;

(c)

Requirements as to the type, age, location, condition, and other characteristics of housing facilities as to which home improvement loans may be made;

(d)

Requirements as to the application and use by lenders of the proceeds of home improvement loan purchases or loans to lenders;

(e)

The warranties, representations, compensation, and services of lenders;

(f)

Such other matters related to home improvement loans, to the purchase thereof, or to loans to lenders under this section as shall be deemed necessary by the authority.

Source: Section 29-4-714 — Powers of the board - home improvement loans - purchase of such loans - loans to lenders, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-29.­pdf (accessed Oct. 20, 2023).

29‑4‑101
Short title 29‑4‑102
Legislative declaration 29‑4‑103
Definitions 29‑4‑104
Powers of cities to undertake projects 29‑4‑105
Eminent domain 29‑4‑106
Acquisition of land for government 29‑4‑107
Management of housing projects 29‑4‑108
Moneys of city 29‑4‑109
Construction contracts and costs 29‑4‑110
Bonds secured by taxes - maturity 29‑4‑111
Bonds not secured by taxes authorized by resolution 29‑4‑112
Tax resolution - payment of bonds 29‑4‑113
Form of bonds - rate of interest 29‑4‑114
Provisions of bonds, mortgages, or trust indentures 29‑4‑115
Mortgage when financed by government 29‑4‑116
Remedies of an obligee of city 29‑4‑117
Additional remedies 29‑4‑118
Remedies cumulative 29‑4‑119
Limitations on remedies of obligee 29‑4‑120
Foreclosure sale subject to government agreement 29‑4‑121
Action by resolution 29‑4‑122
Tax exemptions 29‑4‑123
Supplemental nature of article 29‑4‑201
Short title 29‑4‑202
Legislative declaration 29‑4‑203
Definitions 29‑4‑204
Petition for creation of authority - notice - hearing 29‑4‑205
Appointment of commissioners 29‑4‑206
Duty of the authority and commissioners 29‑4‑207
Interested commissioners or employees 29‑4‑208
Removal of commissioners 29‑4‑209
Powers of authority 29‑4‑210
Rentals and tenant selection 29‑4‑211
Eminent domain 29‑4‑212
Acquisition of land for government 29‑4‑213
Zoning and building laws 29‑4‑214
Types of bonds 29‑4‑215
Form of bonds 29‑4‑216
Provisions of bond or mortgage 29‑4‑217
Power to mortgage - when 29‑4‑218
Remedies of an obligee of authority 29‑4‑219
Additional remedies 29‑4‑220
Remedies cumulative 29‑4‑221
Limitations on remedies of obligee 29‑4‑222
Sale subject to government agreement 29‑4‑223
Contracts with federal government 29‑4‑224
Wage and labor conditions 29‑4‑225
Insurance 29‑4‑226
Exemption from special assessments 29‑4‑227
Tax exemptions 29‑4‑228
Reports 29‑4‑229
Low rentals 29‑4‑230
Previous housing authorities validated 29‑4‑231
Contracts and undertakings validated 29‑4‑232
Notes and bonds validated 29‑4‑301
Short title 29‑4‑302
Legislative declaration 29‑4‑303
Definitions 29‑4‑304
Preparation of development plan 29‑4‑305
Assistance in preparation of plan 29‑4‑306
Action on setting up of authority 29‑4‑307
Additional powers of authority 29‑4‑308
Organization of authority 29‑4‑309
Condemnation for a superior use 29‑4‑310
Area not wholly in one municipality 29‑4‑311
Termination of an authority 29‑4‑312
Appropriations by municipality 29‑4‑313
Taxation 29‑4‑314
Supervision of reconstruction agency 29‑4‑401
Existing statutes no bar to creation of housing authority 29‑4‑402
Cities and towns empowered to create housing authorities 29‑4‑501
Legislative declaration 29‑4‑502
Definitions 29‑4‑503
Creation of housing authority 29‑4‑504
Appointment of commissioners 29‑4‑505
Powers of authority 29‑4‑506
Policy of authority 29‑4‑507
Exemption from special assessments - tax exemptions 29‑4‑508
Boundaries of authority 29‑4‑509
Conformity with building laws 29‑4‑601
Applicability of part 6 29‑4‑602
Posting and publication of notice - petition 29‑4‑603
Cooperative agreement - costs of election 29‑4‑604
Election - resolution 29‑4‑605
Notice of election 29‑4‑606
Conduct of election 29‑4‑607
Count of ballots - canvass - results of election 29‑4‑701
Short title 29‑4‑702
Legislative declaration 29‑4‑703
Definitions - rules 29‑4‑704
Colorado housing and finance authority 29‑4‑704.5
Reference in contracts and documents 29‑4‑705
Records of board 29‑4‑706
Meetings of board 29‑4‑707
Disclosure of interests required 29‑4‑708
General powers of the authority - repeal 29‑4‑709
Power of board - housing facility plans 29‑4‑710
Powers of the board - executive director - housing facility loans - assistance in housing facility development 29‑4‑710.5
Powers of the board - lease, sale, or financing of projects 29‑4‑710.6
Powers of the board - loans for capital 29‑4‑710.7
Powers of the board - issuance of bonds to maintain balances in the unemployment compensation fund 29‑4‑711
Power of board - housing facility plans - mortgage purchase - loans to lenders 29‑4‑712
Powers of the board - executive director - mortgage purchase - loans to lenders - assistance in providing housing facilities 29‑4‑713
Power of the board - home improvement loans 29‑4‑714
Powers of the board - home improvement loans - purchase of such loans - loans to lenders 29‑4‑716
Standards for approval of organizations 29‑4‑717
Findings - percentage of low-income families required 29‑4‑718
Bonds and notes 29‑4‑719.1
Economic development fund 29‑4‑720
Validity of any pledge 29‑4‑721
Remedies 29‑4‑722
Negotiable instruments 29‑4‑723
Bonds eligible for investment 29‑4‑724
Refunding bonds 29‑4‑725
Nonliability of state for bonds 29‑4‑726
Members of authority not personally liable on bonds 29‑4‑727
Property taxation - exemption of bonds from taxation 29‑4‑728
Revolving fund established 29‑4‑729
Reporting 29‑4‑730
Powers of the authority - investments 29‑4‑731
Agreement of this state 29‑4‑732
This part 7 not a limitation of powers 29‑4‑734
Termination of powers 29‑4‑735
Colorado strategic seed fund council - creation 29‑4‑1001
Short title 29‑4‑1002
Definitions 29‑4‑1003
Rent reporting for credit pilot program - created - third-party contractor - participant landlords and participant tenants - financial education courses required - compensation for participant landlords 29‑4‑1004
Rent reporting for credit pilot program - rules 29‑4‑1005
Rent reporting for credit pilot program - report 29‑4‑1006
Repeal of part 29‑4‑1101
Short title 29‑4‑1102
Legislative declaration 29‑4‑1103
Definitions 29‑4‑1104
Middle-income housing authority - creation - board of directors - meetings - records - tax exempt - audit - report 29‑4‑1105
General powers 29‑4‑1106
Additional powers - affordable workforce housing projects 29‑4‑1107
Powers of the board - selection of projects - ownership - report 29‑4‑1108
Relationship of authority and other jurisdictions 29‑4‑1109
Bonds 29‑4‑1110
Agreement of the state not to limit or alter rights of obligees 29‑4‑1111
Issuance of funds to the authority 29‑4‑1112
No action maintainable 29‑4‑1113
Judicial examination of powers, acts, proceedings, or contracts of the authority 29‑4‑1114
This part 11 not a limitation of powers 29‑4‑1115
Construction of this part 11
Green check means up to date. Up to date

Current through Fall 2024

§ 29-4-714’s source at colorado​.gov