Colorado Housing Trust Fund

Summary

The Governor’s veto of the affordable housing loans and grants line item for the 2002-2003 state budget, and the sunset of the State Low Income Housing Tax Credit weakened our ability to address Colorado’s housing needs. A housing trust fund would create a dedicated source of public revenue that would not be subject to the annual appropriations process and would guarantee some affordable housing will be built or pre- served every year. A housing trust fund would provide a flexible source of funding to support a broad range of activities including land acquisition, infrastructure, predevelopment and development costs, rehab or new construction, weath- erization, and down-payment assistance. Grants and loans would be made available on a competitive statewide basis to support affordable rental and home-ownership opportunities for households earning up to 80% of area median income. Recognizing that families

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