CHF HISTORY
CHF was formed in 2003 as a response to the critical shortage of affordable housing throughout Washington County.
CHF is a revolving loan fund, so its funds recycle and are used to help seed one new project after another, representing the spectrum of housing needs from permanent housing for formerly homeless through homeownership.
Since inception, CHF has originated over $11 million in loans resulting in over 2,400 homes and leveraging development activity in the county of over $550 million.
CHF Evolution
2003-2008:
During the first five years after incorporation, CHF sought local support, and extended small loans to a group of nonprofit developers based in the County (Loan activity under $500,000).
2008-2012:
While responding to the Great Recession and its aftermath, CHF in its second five years increased predevelopment loan limits and offered larger land acquisition loans.
Additional nonprofits began to operate in the County and benefited from CHF’s offerings (Loan activity just under $2 million).
2013-present:
CHF became an emerging Community Development Financial Institution (CDFI), with its first awards from US Treasury to help build capacity and grow the loan fund. Program-Related Investments from local foundations helped CHF diversify its resource base.
New loan products were added to meet the needs of the community—facilities, term, construction and bridge loans. CHF revised its guidelines to serve for-profits of regulated affordable housing (Loan activity $8.5 million).
A collaboration with Craft3 and Network for Oregon Affordable Housing provided tools to prevent displacement and address equity issues along the SW Corridor (potential light rail alignment).
CHF is part of a collaboration, with Unite Oregon and HomePlate Youth Services, funded by Meyer Memorial Trust to provide housing education and leadership training focused on bringing more diverse voices and lived experience to the decision-making bodies that impact housing.
CHF Loans Committed and Outstanding at Year End 2006-2021
