With just five days left in Colorado’s legislative session, time is truly of the essense for hundreds of bills that are waiting to get passed through both chambers of Congress. Each year, Urban Land Conservancy (ULC) strongly advocates for legislation that will increase the supply for affordable housing on both a city, regional and statewide level. This year, multiple bills were introduced that would significantly impact both the creation and preservation of affordable housing in Colorado.
To date, Colorado is one of the last remaining states without a dedicated source of funding for affordable housing. Yet according to the U.S. Census Bureau, we are one of the top 10 states experiencing rapid population growth – an influx that without proactive measures in place can put even greater stress on Colorado’s housing, infrastructure and quality of life. Today, more than 200,000 households in Colorado are severely cost burdened (spending more than 50% of their income on housing). And as rent and home prices continue to drastically outpace wages, we need to find a solution to address the State’s growing inequality.
The Colorado Sun recently published an article highlighting affordable housing related bills introduced during this year’s legislative session. While each bill is still making its way through both the House and Senate, many amendments have been made which will alter their impact. Nevertheless, ULC is in strong support of all the legislation moving forward, as we believe this is a great start towards drastically increasing the supply of affordable housing throughout Colorado, in both rural and urban communities alike. Check out the Colorado Sun’s article here to learn more.
ULC also wrote a letter of support on behalf of House Bill 1245, a bill that proposes to change the vendor fee collected by retailors from the Colorado state sales tax, and could produce up to $50 million per year dedicated towards affordable housing. To learn more about the bill, check out either of the links below: