Rural Resort Community Petition Process Launched
Organizations applying for funding from the Affordable Housing Financing Funding, administered by the Colorado Housing and Finance Authority (CHFA) and overseen by the Governor's Office of Economic Development and International Trade, may be eligible for policy flexibilities if their project is located in a county or municipality that is classified as a Rural Resort Community.
By filing a petition, these projects may serve households with higher incomes than would otherwise be allowable -- assuming the petition is approved by the Division of Housing within the Department of Local Affairs.
Staff of local governments may submit a Petition to Increase Income Limits in Rural Resort Communities at this link.
Only petitions submitted by a local government will be accepted, other interested entities such as developers or non-profits must have a local government submit a petition on their behalf.
This petition can only increase income limits for projects that are awarded funding through the Land Banking Program, Equity Program, and Concessionary Debt programs administered by CHFA. Projects that have not been awarded funding from these programs cannot benefit from this petition.
Instructions on how to complete the petition, as well as other context and restrictions, are available at the link above.