REPORT: Legislators Recommend $4M Loan Programs for Affordable Housing
Colorado lawmakers aim to help address the state’s affordable housing crisis by proposing $4 million in loans to buyers and local nonprofits and governments to assist in attaining and building affordable housing. The dollars come from the American Rescue Plan Act and Colorado’s Affordable Housing Transformative Task Force and Subpanel. “There will be opportunities for CAR and other stakeholders to engage about these ideas whether they are good or bad in the normal bill legislative process,” said Liz Peetz, CAR’s Vice President of Government Affairs. “It’s still yet to be determined by the Governor’s office, in collaboration with the General Assembly, how these potential bill proposals will be prioritized in terms of how much funding they receive in relation to the normal bill-making process.” CAR’s December Market Trends reports showed that the average sales price for a single unit home in Denver was at $653,427, an 18.7% increase from 2020.