Proposition 123 eNews - April 16, 2024 - Proposition 123 Fast Track Requirement Webinars

Proposition 123:

Program Updates

April 16, 2024

The Colorado Affordable Housing Financing Fund supports land banking, equity, and concessionary debt for affordable housing.

Proposition 123 Fast Track Requirement Webinars

On behalf of our partners at the Department of Local Affairs (DOLA), CHFA is passing along the below information regarding two upcoming webinars about the Proposition 123 requirement for local governments to expedite the review of affordable housing. Please contact the DOLA Division of Local Government for more information.

Upcoming Webinars on Proposition 123 Fast Track Requirement

The Department of Local Affairs (DOLA) will host informational webinars on April 22nd and April 25th to provide guidance and clarity around the Proposition 123 requirement to expedite review of affordable housing. Links to register via Zoom are included below.

Proposition 123 states that in order to remain eligible for Proposition 123 funds in the next three-year cycle (2027 to 2029), local governments must demonstrate they have implemented an expedited review process for housing projects where at least half of the units are affordable. While the law states that expedited review must take place within 90 calendar days of a complete application submission, there are many additional details to consider.

DOLA’s guidance does not prescribe an approach but instead provides a list of strategies and approaches. Each community will need to determine which strategies are most effective for their local processes. Grant funding from the DOLA Division of Local Government is available to support local governments with the implementation process.

Contact

ColoradoAffordableHousingFinancingFund.com

AHFF@chfainfo.com

With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority prohibits unlawful discrimination against applicants or employees on the basis of age 40 years and over, race, sex, sexual orientation, gender identity, gender expression, color, religion, national origin, disability, military status, genetic information, marital status or any other status protected by applicable federal, state or local law. Requests for reasonable accommodation, the provision of auxiliary aids, or any complaints alleging violation of this nondiscrimination policy should be directed to the Nondiscrimination Coordinator, 1.800.877.2432, TDD/TTY 800.659.2656, CHFA, 1981 Blake Street, Denver, Colorado 80202-1272, available weekdays 8:00am to 5:00pm.