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      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <ConsolidatedBasisFinclStmtInd>X</ConsolidatedBasisFinclStmtInd>
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      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
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        <CurrentTaxYearMinus3YearsAmt>125000</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>7489926</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>5230704</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>3229460</CurrentTaxYearAmt>
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      <TotalCalendarYear170Grp>
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        <CurrentTaxYearAmt>3229460</CurrentTaxYearAmt>
        <TotalAmt>19520480</TotalAmt>
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      <GrossInvestmentIncome170Grp>
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        <CurrentTaxYearAmt>107370</CurrentTaxYearAmt>
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      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
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        <ContributorUSAddress>
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          <AddressLine2>RESTRICTED</AddressLine2>
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          <ZIPCode>RESTRICTED</ZIPCode>
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        <BookValueAmt>104498</BookValueAmt>
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        <BookValueAmt>698810</BookValueAmt>
      </BuildingsGrp>
      <TotalBookValueLandBuildingsAmt>803308</TotalBookValueLandBuildingsAmt>
      <OtherAssetsOrgGrp>
        <Desc>DEVELOPMENT COSTS</Desc>
        <BookValueAmt>13015037</BookValueAmt>
      </OtherAssetsOrgGrp>
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      <OtherLiabilitiesOrgGrp>
        <Desc>ACCRUED INTEREST</Desc>
        <Amt>36443</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>36443</TotalLiabilityAmt>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>0</GrantRecordsMaintainedInd>
      <RecipientTable>
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          <BusinessNameLine1Txt>CARE ACCESS COLO I LLC</BusinessNameLine1Txt>
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        <USAddress>
          <AddressLine1Txt>2247 SAN DIEGO AVE STE 135</AddressLine1Txt>
          <CityNm>SAN DIEGO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>92110</ZIPCd>
        </USAddress>
        <RecipientEIN>331234667</RecipientEIN>
        <CashGrantAmt>15000</CashGrantAmt>
        <NonCashAssistanceAmt>0</NonCashAssistanceAmt>
        <PurposeOfGrantTxt>RENT SUBSIDY GRANT</PurposeOfGrantTxt>
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    </IRS990ScheduleI>
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      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
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      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
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      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
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      <RltdOrgOfficerTrstKeyEmplGrp>
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        <TitleTxt>PRESIDENT</TitleTxt>
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        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
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        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
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        <TotalCompensationFilingOrgAmt>243750</TotalCompensationFilingOrgAmt>
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        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
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        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>1.MARKET ANALYSIS AND BENCHMARKING FOR THE BUDGET SIZE AND DIFFERENT INDUSTRIES (NONPROFIT LEADERS, PROGRAM OFFICERS AND CONSTRUCTION LEADERS); 2. PERFORMANCE EVALUATION - THE BOARD FRAMEWORK IS IN DEVELOPMENT 3. INDEPENDENT REVIEW - IF NECESSARY 4. APPROVAL BY THE BOARD - APPROVE BUDGETS AND LEADERSHIP COMPENSATION</ExplanationTxt>
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    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A REVIEW OF THE 990 IS PERFORMED PRIOR TO FILING THE RETURN.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>ORGANIZATION IS A NASCENT AND SMALL ORGANIZATION AND HAVE ELEMENTS OF THE INDEPENDENT COMPENSATION REVIEW IN PLACE INCLUDE FOR KEY EMPLOYEES. THEY ARE AND THEIR STATUS: 1. MARKET ANALYSIS AND BENCHMARKING FOR THE BUDGET SIZE AND DIFFERENT INDUSTRIES (NONPROFIT LEADERS, PROGRAM OFFICERS AND CONSTRUCTION LEADERS); 2. PERFORMANCE EVALUATION THE BOARD FRAMEWORK IS IN DEVELOPMENT 3. INDEPENDENT REVIEW TBD IF NECESSARY 4. APPROVAL BY THE BOARD APPROVE BUDGETS AND LEADERSHIP COMPENSATION</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>AVAILABLE UPON REQUEST</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 291,341. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 291,341. GRANT EXPENSES: PROGRAM SERVICE EXPENSES 20,379. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,379.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>NORWOOD HOMES LLC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>220 E COLORADO AVE STE 106</AddressLine1Txt>
          <CityNm>TELLURIDE</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>81435</ZIPCd>
        </USAddress>
        <PrimaryActivitiesTxt>WORKFORCE HOUSING</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>CO</LegalDomicileStateCd>
        <DirectControllingEntityName>
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      </IdDisregardedEntitiesGrp>
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>RIDGWAY HOMES LLC</BusinessNameLine1Txt>
        </DisregardedEntityName>
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          <AddressLine1Txt>220 E COLORADO AVE STE 106</AddressLine1Txt>
          <CityNm>TELLURIDE</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>81435</ZIPCd>
        </USAddress>
        <PrimaryActivitiesTxt>WORKFORCE HOUSING</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>CO</LegalDomicileStateCd>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>PARADOX COMMUNITY TRUST</BusinessNameLine1Txt>
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      </IdDisregardedEntitiesGrp>
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>OURAY HOMES LLC</BusinessNameLine1Txt>
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          <AddressLine1Txt>220 E COLORADO AVE STE 106</AddressLine1Txt>
          <CityNm>TELLURIDE</CityNm>
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          <ZIPCd>81435</ZIPCd>
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        <LegalDomicileStateCd>CO</LegalDomicileStateCd>
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      </IdDisregardedEntitiesGrp>
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>NUCLA HOMES LLC</BusinessNameLine1Txt>
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          <AddressLine1Txt>220 E COLORADO AVE STE 106</AddressLine1Txt>
          <CityNm>TELLURIDE</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
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          <AddressLine1Txt>220 E COLORADO AVE STE 106</AddressLine1Txt>
          <CityNm>TELLURIDE</CityNm>
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        <LegalDomicileStateCd>CO</LegalDomicileStateCd>
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    </IRS990ScheduleR>
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</Return>