February 2, 2023

proposition 123: affordable housing financing fund

In November, Colorado voters passed Proposition 123, which establishes the State Affordable Housing Fund and dedicates 1/10 of 1 percent (0.1%) of annual state tax income revenue to support a permanent funding source for affordable housing. The State Affordable Housing Fund will distribute 60% to the Affordable Housing Financing Fund overseen by the Office of Economic Development and International Trade (OEDIT) and 40% to the Affordable Housing Support Fund overseen by the Colorado Department of Local Affairs (DOLA).

OEDIT has opened the contract for a Proposition 123 Contract Administrator (defined by CRS 29-32-101) and is in active discussions with Colorado Housing and Finance Authority (CHFA) regarding the opportunity for CHFA to fulfill the Third-Party Administrator role. OEDIT plans to announce the selection of the Administrator at a public meeting being held via Zoom on Thursday, February 9, 2023, at 10:00am – 10:30am, in accordance with CRS 29-32-104(1). Please click here for more information and to register to attend the Zoom meeting.

Public Comment

OEDIT is accepting public comments about the Administrator. To provide any feedback on Proposition 123 - Colorado Affordable Housing Financing Fund or to ask written questions, please visit: https://oedit.colorado.gov/proposition-123-colorado-affordable-housing-financing-fund.