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City County of Denver Office of Economic Development

HUD Allocation. Nationally - $3.92 billion awarded to States

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City County of Denver Office of Economic Development

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    1. City & County of Denver Office of Economic Development

    2. HUD Allocation Nationally - $3.92 billion awarded to States & local governments using a formula: based on # and % of home foreclosures; # and % of subprime mortgages and # and % of home in default/delinquency Colorado = $53,053,033 (4.7% of national award) City of Denver = $6,060,170 (11.4% of state)

    3. City of Denver (OED)s Plan Use existing & new research & data to determine targeted areas of greatest need Understanding Mortgage Foreclosures in Denver, OED March 2008 Data on subprime mortgages in Denver Hold meetings with Partner Agencies Nonprofits and community groups Public and private developers Financial Institutions

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