- 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.
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.