To: Board of County Commissioners
Through: Katherine Smith, Director, Community Resources
Prepared By:
prepared
Lizze Loomis, Division Manager, Community Development and Housing Stability Services
end
presenter
Presenter: Lizze Loomis, Division Manager, Community Development and Housing Stability Services
end
Subject:
title
1:30 PM *Proposition 123 Affordable Housing Commitment 2027–2029 Cycle
end
Purpose and Request:
recommended action
County staff requests Board approval to authorize the submission of Arapahoe County’s 2027–2029 Proposition 123 Affordable Housing Commitment to the Colorado Department of Local Affairs in accordance with applicable State requirements.
end
Alignment with Strategic Plan: Economic Resilience and Stability - Maintain and improve affordable housing initiatives, including housing preservation and homeownership support.
Background and Discussion: Colorado voters approved Proposition 123 in 2022, establishing the State Affordable Housing Fund and creating requirements for local governments seeking continued access to Proposition 123 funding opportunities.
Colorado Revised Statutes § 29-32-105, as amended by House Bill 26-1313, establishes the requirements for local government participation in the program. For the three-year commitment cycle beginning January 1, 2027, participating local governments must submit an affordable housing commitment to the Colorado Division of Housing no later than November 1, 2026. Arapahoe County previously submitted a Proposition 123 commitment of 141 affordable housing units in October 2023 for the prior commitment cycle. The County fulfilled that commitment by summer 2026, ahead of the conclusion of the applicable commitment period.
For the 2027–2029 commitment cycle, the State revised the methodology used to establish local affordable housing targets. The previous requirement to increase affordable housing units by three percent annually has been replaced with a methodolog...
Click here for full text