Vote No on Amendment 74
CHFA’s Board of Directors has taken a position of opposition to Amendment 74. This proposed constitutional amendment would require state and local governments to provide just compensation if private property has suffered “reduced fair market value by government law or regulation.” Amendment 74 is opposed by a broad, bipartisan coalition. Groups that often disagree, like chambers of commerce, labor unions, environmental organizations, teachers, firefighters and police, and cities and counties from all over the state have come out in strong opposition.
If adopted, Amendment 74 could have severe financial consequences on state and local governments and their ongoing ability to support key services and infrastructure, such as affordable housing, economic development, education, transportation, health and human services. In addition, Amendment 74 would likely increase the time and costs associated with developing new market rate and affordable housing due to lawsuits filed that may be based on fears, misperceptions, or misunderstandings about a proposed development’s impact.
To learn more please visit https://no74.co/