House Bill 22-1304: State Grants Investments Local Affordable Housing
For Rural Resort counties the household area median income (AMI) guidelines change for the Transformational Affordable Housing Grant Program and the definition of “affordable housing” changes for the Infrastructure and Strong Communities Grant Program.
- Transformational Affordable Housing Grant Program: Rental housing must target households with an annual income:
- ≤ 80% of the AMI in Urban counties
- ≤140% of the AMI in Rural counties
- ≤170% of the AMI in Rural Resort counties
- Infrastructure and Strong Communities Grant Program: The term “affordable housing” changes households owning their home in Rural Resort counties.
- For households owning their home in Rural or Urban counties, it means an annual income ≤140% AMI.
- For households owning their home in a Rural Resort county, it changes to an annual income ≤160% AMI.
Review the House Bill 22-1304 for more information.
Senate Bill 22-159: Revolving Loan Fund Invest Affordable Housing
The target AMI guidelines for households change for Rural Resort communities.
- Rental and home-ownership housing in Urban and Rural counties must target households with an annual income ≤ 120% of the AMI.
- In Rural Resort counties, rental housing is ≤140% AMI and home-ownership housing is ≤160% AMI.
Review the Senate Bill 22-159 for more information.
Senate Bill 22-232: Creation Of Colorado Workforce Housing Trust Authority
The definition of “Middle-income individuals and families” changes for Rural Resort counties.
- In Urban and Rural counties it means a household between 80% and 120% of the AMI.
- For Rural Resort counties it means between 80% and 140% of the AMI.
Review the Senate Bill 22-232 for more information.
House Bill 23-1304: Proposition 123 Affordable Housing Programs
Rural Resort communities can petition the Division of Housing to change AMI requirements for Proposition 123 funding with OEDIT’s Affordable Housing Financing Fund (Land Banking, Equity, and Concessionary Debt).
Review the House Bill 23-1304 for more information.