Talking Points
Regional Administrator Rick M. Garcia
Phoenix on the FAX Groundbreaking
Poplar and Colfax
Denver, Colorado
October 28, 2010
10:00 am

Thank you Marcia. I am thrilled to be here at the East Colfax Corridor, in the vibrant Park Hill neighborhood. As many of you know, I was a colleague of Marcia’s as a Councilman on the Denver City Council up until earlier this year.

• As a Councilman, I remember seeing the zoning regulations come in for the Phoenix on the FAX project, as well as some of the HUD Home Funding grant award paperwork. It was an important event then and it is an even more important event today because we are talking about bringing a reality to the East Colfax Community. 
   
• Phoenix on the FAX will not only act a catalyst to revitalize this area, but we are also providing affordable housing. Affordable housing in the context that working families have a quality place to live, they will be served by public transportation and provide opportunities for other kinds of amenities that will ensure Phoenix on the FAX will grow and flourish in this area. These types of activities are ones which HUD refers to as "Sustainable Communities". 
   
• I want to extend special congratulations to Councilwoman Johnson, for her years of work and dedication to see this project through to fruition. Everyone please join me in thanking Councilwoman Johnson. 
   
• I would like to recognize Ryan Sailer and George Sherman of Sherman Associates and Shawne Ahlenius of the FAX Partnership for their hard work that has led to this momentous occasion. I want to recognize Councilman Doug Linkhart, who has taken the time to attend this important event. John Lucero, Deputy Director from the Office of Economic Development. Also in attendance is Marcie Laporte, HUD's Director of Multi-Family Housing and several members of our own HUD staff who came to join and honor your significant milestone. 
   
• Let me speak from the heart for just a moment. In my brief tenure at HUD, I recognize the value of having relationships with local and state governments. Congress appropriates funds for these FHA programs and Community Development Block Grant Activities to the City and County of Denver.
   
• HUD, in collaboration with the City of Denver has awarded $350,000 HOME funds to assist in the financing of this project. 
   
• The HUD HOME program is the largest Federal block grant to state and local governments, designed exclusively to create affordable housing for low-income households. The Phoenix on the FAX project will provide 50 apartment units, which are all 100% affordable. 
   
• Sherman and Associates received a Low Income Housing Tax Credit award, which represents 9% of the financing for Phoenix on the FAX. 
   
• The Low Income Housing Tax Credit award provides equity to developers who could not otherwise build housing that is affordable to those working families whose incomes are below area median income. 
   
• It is truly the City and County of Denver and the local leadership, the Council Members and the mayor who decide where these dollars can be best spent to offer the greatest benefit to the communities they serve. 
   
• It is these collaborations that make HUD's work meaningful. I would like to take this time to once again acknowledge all of these partners, some of which will be speaking after me. 
   
• This is a very important day, an important project, because it is the Park Hill neighborhood, on the East Colfax Corridor and because it is in the City and County of Denver. Congratulations again to everyone who had a part in making this happen. It is that collection of energy and people who stand by and support these kinds of projects that ensure this neighborhood will have a bright future. 
   
• Congratulations to everyone again for making this project come to fruition.

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