In November 2022, Colorado voters passed Proposition 123, a ballot measure authorizing the state to retain money from existing state tax revenue to support affordable housing investment. These funds are split 60/40 between the Office of Economic Development and International Trade (OEDIT) and the Department of Local Affairs (DOLA) through its Division of Housing (DOH), respectively. OEDIT manages the Affordable Housing Financing Fund in partnership with Colorado Housing and Finance Authority (CHFA), which serves as Contract Administrator. DOH manages the Affordable Housing Support Fund. More information about each fund is included below.
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Affordable Housing Financing Fund
OEDIT manages the Affordable Housing Financing Fund in partnership with Colorado Housing and Finance Authority (CHFA), which serves as Contract Administrator. Click the top menu links to learn more about the individual program offerings.
60%
Sixty percent of Proposition 123 funds are allocated to the Affordable Housing Finance Fund, which is managed by OEDIT and administered by CHFA. This fund includes three programmatic areas: Land Banking, Equity, and Concessionary Debt. Local and tribal governments must complete a Proposition 123 Local Government Affordable Housing Commitment, unless otherwise noted, for projects within their jurisdiction to be eligible for funding.
Affordable Housing Support Fund
The Department of Local Affairs (DOLA) through its Division of Housing (DOH), manages the Affordable Housing Support Fund. To learn more about the Affordable Housing Support Fund, visit DOLA’s website.
40%
Forty percent of Proposition 123 funds are allocated to the Affordable Housing Support Fund, which is managed by the Department of Local Affairs (DOLA) through its Division of Housing (DOH) and Division of Local Government (DLG). The Support Fund includes three programmatic areas: Affordable Homeownership, Serving Persons Experiencing Homelessness, and Local Planning Capacity Development.