Proposition 123 Implementation

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Several hundred million dollars for affordable housing will become available in the second half of 2023 due to the enactment of Proposition 123 by Colorado’s voters in 2022. This funding will be overseen by the Department of Local Affairs and the Governor's Office of Economic Development and International Trade, and may be granted or loaned to the following types of organizations:

  • Non-profits
  • Community land trusts
  • Private entities
  • Local governments

Organizations are only eligible for this funding if their project or program take place in municipalities, counties, or tribes that have committed to increasing their affordable housing stock above a baseline amount; jurisdictions that have accepted commitment filings can be found at this link . Stakeholders should regularly visit this site to find explanatory articles and resources, and to offer feedback that shapes future materials, policies, and procedures relating to affordable housing commitments, and funding programs overseen by the Department of Local Affairs.

Several hundred million dollars for affordable housing will become available in the second half of 2023 due to the enactment of Proposition 123 by Colorado’s voters in 2022. This funding will be overseen by the Department of Local Affairs and the Governor's Office of Economic Development and International Trade, and may be granted or loaned to the following types of organizations:

  • Non-profits
  • Community land trusts
  • Private entities
  • Local governments

Organizations are only eligible for this funding if their project or program take place in municipalities, counties, or tribes that have committed to increasing their affordable housing stock above a baseline amount; jurisdictions that have accepted commitment filings can be found at this link . Stakeholders should regularly visit this site to find explanatory articles and resources, and to offer feedback that shapes future materials, policies, and procedures relating to affordable housing commitments, and funding programs overseen by the Department of Local Affairs.

Questions and Answers

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    I’m working on an affordable housing project in small town in CO. I know my county has committed to increasing the number of affordable housing units. What are the next steps? How do I know if my project is eligible for grants or loans through prop 123?

    Sarah asked 3 months ago

    There are a variety of funding programs offered through Proposition 123.   In addition, the Division of Housing has other programs that support the creation of both rental and homeownership development.  Please reach out to your regional Housing Development Specialist for additional information on these funding opportunities.  Your regional contact can be found here.

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    Is there a way to know what local governments have opted in for a commitment?

    Karen asked 9 months ago

    Hi Karen, the Division of Housing is currently releasing this information on an occasional basis in our newsletter -- eventually there will be a page on the website where these are posted.

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    Are counties required to provide any sort of match to receive funding from Prop 123? If so, what does that obligation look like (amount? kinds of match, deadline to provide, etc.) Thank you-

    Katie Symons asked 11 months ago

    The statute does not require localities to provide matching funds to projects and programs that receive funding from Proposition 123. It is possible that the individual programs could have a match requirement in policy, another post will be made when we confirm if this is being actively considered. Please do let us know if you have thoughts to share on match requirements in policy and I will pass it along.

Page last updated: 26 Jan 2024, 09:19 AM