Larimer awards $6.1M bond to FoCo nonprofit

FORT COLLINS – Fort Collins-based nonprofit Housing Catalyst has been awarded Larimer County’s annual “private activity bond,” which will help the organization build out affordable housing.

According to the Loveland Reporter-Herald, the allocation of $6.1 million in low-interest, tax deductible debt awarded Tuesday is not a grant, and no county money is spent to provide it. Instead, the allocation, given by the state of Colorado to counties, authorizes organizations to issue debt that is tax free and carries a low interest rate.

Source: BizWest