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SB22-232 Creation Of Colorado Workforce Housing Trust Authority

Making an appropriation in connection with the creation of the middle-income housing authority for the purpose of providing workforce housing.

In this act, a Middle-Income Housing Authority (authority) is created for the purpose of acquiring, constructing, renovating, owning, operating, and financing rental housing that meets middle-income housing needs. A board of directors is appointed by the governor with the consent of the senate to govern the authority. A number of administrative details are specified in the bill, including the requirements for appointing board members. By October 1, 2022, the board must solicit project proposals. Middle-income workforce housing with stable rents must be provided in affordable rental housing projects.

The authority is a “public entity” and is a “special purpose authority” for the purpose of TABOR.

Affordable rental housing projects are authorized to be acquired, constructed, rehabilitated, owned, operated, and financed by the authority, including:

  • With no recourse to the state, the authority to issue bonds in connection with affordable rental housing projects;

  • Develop and operate affordable rental housing projects through public-private partnerships and contracts with experienced real estate professionals;

  • It has the right to hire its own personnel or contract with public or private entities, or both, to provide services necessary or convenient to the conduct of its activities;

  • To provide assistance to tenants in its rental housing to enable a transition to home ownership; and

  • Establishing one or more controlled entities to carry out its activities.

PRIME SPONSORS

Senator Jeff Bridges

Senator

Jeff Bridges

Senator Dominick Moreno

Senator

Dominick Moreno

Representative Leslie Herod

Representative

Leslie Herod

Representative Tracey Bernett

Representative

Tracey Bernett

Filed Under: Colorado Laws For Landlords Resources

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    Award-Winning Colorado Property Management Company

    Recognized for our expertise and results, we proudly offer the area’s best property management.

    2022 Best Denver Property Management Company Three Best Rated Denver Colorado Property Management 2022 Expertise Best Property Management Companies in Denver 2022

    Denver Office

    1660 S Albion St #619
    Denver CO 80222
    303-710-8391
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    13540 Northgate Estates Drive Suite 110
    Colorado Springs, CO 80921
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    970-432-3110
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    Broomfield Office

    12303 Airport Way #160
    Broomfield CO 80021
    303-803-1117
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    719-312-7752
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    720-679-1162
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