Proposition 123 Implementation
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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FAQs
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Baseline Amount of Affordable Housing
- What resources are available to determine a baseline?
- Should an affordable housing baseline include housing units that are not subsidized?
- Can an alternative source of data be used to develop a baseline such as data from a multiple listings service, rental listings, newspaper classifieds, local inventory of subsidized housing, or similar source?
- What factors should a local government consider in developing a baseline?
- Should a baseline only contain units at that can be rented or sold now?
- Why does a city or county have baseline reference estimates that differ, even if they are for a single jurisdiction?
- How accurate should a baseline amount of affordable housing be?
- Can a baseline be determined without the resources provided by the state?
- How should an inflation rate be selected in the Baseline Assistance Tool?
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Compliance
- What negative consequences will be faced by local governments and tribes that do not accomplish their goal to increase affordable housing?
- Does a grant or loan have to be repaid if a local government or tribe does not achieve its goal to increase affordable housing?
- Will an entity become ineligible for other state and federal funds if the local government it is operating within does not achieve its goal to increase affordable housing?
- When are affordable housing units counted towards an increase in affordable housing?
- Can a commitment cite the Local Government Affordable Housing Baseline Reference Data Table instead of the Baseline Assistance Tool?
- Does assistance for people experiencing homelessness count towards increases in affordable housing for localities and tribes?
- What units can a locality or tribe take credit for when calculating its annual increases in affordable housing?
- Can a jurisdiction take credit for affordable units that are permitted before their commitment is accepted?
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Funding and Programs
- What funding will a local government or tribe receive once a commitment has been filed?
- What programs are local governments, tribes, non-profit organizations, and private entities eligible for if a local government or tribe does not file a commitment to increase affordable housing?
- Can the affordable housing funding programs created by Proposition 123 serve households that have an income above of the limits described by the Division of Housing?
- Where can entities apply for funding from Proposition 123?
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Opting-in/Filing a Commitment
- Does a city council member, city manager, county commissioner, department executive, or other role need to sign or submit a commitment filing for it to be accepted?
- How can a local government or tribe opt-in or make a commitment filing?
- Can a local government or tribe use different income limits for the purpose of baseline determination and compliance?
- Can a county file a commitment for all, or some, of its municipalities?
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Rural Resort Petition Process
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