Denver, Boulder and several other local governments have moved to enroll in Colorado's new affordable housing program, despite lingering concerns that they can’t meet the requirements of a program that could dole out hundreds of millions of dollars.
Denver, Boulder and several other local governments in Colorado have moved to enroll in the
The money is significant, projected at nearly $300 million annually, and it began to flow into state accounts on July 1. In the coming years, as much as $55 million of that will go toward homelessness services programs. Millions more will fund efforts like land banking for future developments; financing for new affordable units; programs to replace banks with organizations that give equity and returns to tenants; and financial aid for first-time homebuyers.
Led by the Colorado Coalition for the Homeless, several sent their own interpretation of the ballot measure to state officials and argued they should get the money even if their local government didn’t sign on.But the state rejected requests from local governments to count only certain kinds of affordable units, arguing that they must obey language baked into the ballot measure that encompasses both regulated and naturally occurring affordable housing.
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