Media Contact: Chynna Cowart
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The deadline for the Affordable Housing Support Fund, administered by the Department of Local Affairs (DOLA), is November 1, 2023. As the filing deadline nears, the Department of Affairs (DOLA) encourages jurisdictions that have yet to file a commitment to participate in the State’s goal of creating and maintaining safe, stable, and affordable housing for all Colorado residents.
Passed by Colorado voters in 2022, Proposition 123, created the State Affordable Housing Fund, dedicating 40% of funds to the Affordable Housing Support Fund administered by the Department of Local Affairs (DOLA) and 60% to the Affordable Housing Financing Fund overseen by the Office of Economic Development & International Trade (OEDIT) to fund housing programs.
Any interested local government is to submit its commitment no later than the deadline established in Proposition 123, which is November 1, 2023. Filing a commitment opens the door to apply for funding through the programs implemented by OEDIT/CHFA and DOLA, it does not designate funding to a local government or tribe that has filed a commitment. Filing a commitment will make a local government or tribe, along with entities operating within their jurisdiction, eligible to apply for funding as those opportunities are rolled out through the respective programs.
|2023||November 1, 2023: Filing deadline for on-time commitments (Cycle 1)|
|2024||November 1, 2024: Filing deadline for late commitments (eligibility starting in 2025)|
|2025||November 1, 2025: Filing deadline for late commitments (eligibility starting in 2026)|
|2026||November 1, 2026: Filing deadline for on-time commitments (Cycle 2)|
|2027||January 1, 2027: Beginning of commitment achievement and fast-track approval as funding eligibility requirements|
The Department encourages jurisdictions that have not opted-in to visit the Proposition 123 website for more details on how to file a commitment to be able to access these important funds dedicated to addressing Colorado’s affordable housing needs.
“We applaud the jurisdictions that have opted-in to this transformational funding to increase housing in their communities,” said Rick Garcia, Executive Director of the Department of Local Affairs.
Fewer than half of eligible jurisdictions have opted-in to this funding. As of today, 129 jurisdictions out of the 336 jurisdictions eligible to apply have successfully filed a commitment to increase their affordable housing by 3% each year over the next three years.
Current Projects Utilizing the Affordable Housing Support Fund
Affordable Housing Support Fund funds, allocated through Proposition 123, are available for new projects and can be incorporated into existing programs.
As of September 30, 2023, the Division of Housing (DOH), within DOLA, has utilized Proposition 123 funds to support five projects in Colorado totaling $14,435,000. Two of these projects are new Permanent Supportive Housing (PSH) projects and three of these projects are to support affordable homeownership opportunities.
1. The Residences on Acoma, Denver ($6,350,000)
The Second Chance Center, Inc, a non-profit, has been awarded $6,350,000 for the construction of the Residences on Acoma, 128 units of PSH and affordable housing for people involved with the justice system. The project is located at 1501 S. Acoma Street, Denver, Colorado 80223.
The project will have sixty (60) units of permanent supportive housing (PSH) at 30% AMI. The remaining sixty-eight (68) units will provide supportive affordable housing at 60% AMI for persons exiting incarceration. The Division of Housing (DOH) has committed 60 state project based vouchers for the PSH units and Tenancy Support Services (TSS). The Office of Homeless Initiatives (OHI) supports the housing model of mixed-use with PSH and affordable units.
2. The Osborne, Rocky Ford ($2,825,000)
Tri-County Housing, Inc dba Total Concept has been awarded $2,825,000 to assist with the construction of The Osborn, a permanent supportive housing (PSH) project located in Rocky Ford. There will be 30 units of permanent supportive housing with a unit mix consisting of 7 one bedroom and 2 two bedroom units at 30% AMI and 17 one bedroom and 4 two bedroom units at 60% AMI. The project received a conditional commitment of 30 State Housing Vouchers (SHV) and Tenant Supportive Services (TSS) funding from DOLA's Office of Homeless Initiatives (OHI).
This 30-unit supportive housing project is in partnership with the service provider, Valley Wide Health Systems. This project is in response to a growing need for housing to address the increasing number of persons experiencing housing instability and homelessness in the region. This will be the first low-income housing tax credit funded community in Rocky Ford that will provide affordable apartments with case management and support services to help the local community members in need of this program. The site is a gateway to downtown Rocky Ford and is close to numerous community amenities.
3. Kechter Townhomes, Ft. Collins ($2,700,000)
Elevation Community Land Trust (ECLT) has been awarded $2,700,000 for the acquisition of Kechter Townhomes, a 54 unit permanently affordable for-sale development in Fort Collins, CO. The project is a partnership between the City of Fort Collins, TWG Development, Housing Catalyst, and Elevation Community Land Trust. This collaborative has worked throughout the pandemic in a very difficult development environment, and has encountered and creatively solved for multiple barriers, and expects to deliver units in fall 2023. TWG and Housing Catalyst will develop the project, and ECLT will purchase the units upon completion so that they can be offered to households who make less than 70% AMI.
The development includes 5 two-bedroom units and 49 three-bedroom units. The two-story development will encompass multiple buildings, consisting of two to four townhomes per building with attached garages. The home sizes will be approximately 1,200-1,400 square feet. All units will have energy efficient features.
4. The Burrell, Denver ($1,960,000)
Elevation Community Land Trust (ECLT) has been awarded $1,960,000 to assist with the acquisition of 49 affordable condominium units (condos), an 8-story, steel framed building at 3575 Chestnut Place in the RiNo Arts District in Denver.
The Burrell will include 14 one-bedroom, 27 two bedroom and 8 three-bedroom homes. The building exterior will be primarily brick with Enterprise Green energy efficient features. The condos will range in size from 494 to 1,349 square feet and be affordable to households earning less than 80% AMI. The building will be serviced by one elevator. The project will include commercial space on the first floor with seven stories of residential units.
5. The Railyard Homeownership, Lake County BD ($600,000)
The Chaffee Housing Trust (CHT) was awarded $600,000 to assist with the construction of 12 condominium homes as part of a modular homeownership development in Lake County called The Railyard.
The Railyard will include four one-bedroom/bath units, four two-bedroom/bath units, and four three-bedroom/bath modular units all priced for homeownership sales at 100% AMI.
The Railyard is a new two-phased development with 69 residential units and 8 commercial spaces in Phase 1 (49 & 5 in Phase 2) located on the northeast side of Leadville, adjacent to Highway 24. CHA’s portion of The Railyard development is the only units deed restricted for affordability.