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. 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. 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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Share 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? on Facebook Share 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? on Twitter Share 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? on Linkedin Email 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? link
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 8 months agoThere 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.
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Share Is there a way to know what local governments have opted in for a commitment? on Facebook Share Is there a way to know what local governments have opted in for a commitment? on Twitter Share Is there a way to know what local governments have opted in for a commitment? on Linkedin Email Is there a way to know what local governments have opted in for a commitment? link
Is there a way to know what local governments have opted in for a commitment?
Karen asked about 1 year agoHi 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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Share 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- on Facebook Share 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- on Twitter Share 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- on Linkedin Email 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- link
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 over 1 year agoThe 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.
Custom
Commitment Filings
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
- What does filing a commitment mean?
- 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
Project Documents
Project Timeline
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July Through September 2023
Proposition 123 Implementation has finished this stageFunding Availability: Proposition 123 Funds Transferred to Executive Branch Administrators
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November 2023
Proposition 123 Implementation is currently at this stageDeadline: On-Time Local Government Affordable Housing Commitment Filings
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November 2024
this is an upcoming stage for Proposition 123 ImplementationDeadline: Late Local Government Affordable Housing Commitment Filings, Eligibility Starting 2025
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November 2025
this is an upcoming stage for Proposition 123 ImplementationDeadline: Late Local Government Affordable Housing Commitment Filings, Eligibility Starting 2025
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November 2026
this is an upcoming stage for Proposition 123 ImplementationDeadline: On-Time Local Government Affordable Housing Commitment Filings, Cycle 2
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January 2027
this is an upcoming stage for Proposition 123 ImplementationDeadline: Compliance with fast-track approval and annual increases in affordable housing
Key Dates
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July 01 → September 30 2023
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