Department of Community Development
Reference: Affordable Housing Baseline Estimate and Proposition 123 Commitment
To: Mayor Gregory Mills and Members of City Council
Through: Michael P. Martinez - City Manager
Prepared By: Mike Tylka, AICP - Assistant Director of Community Development
Date Prepared: October 4, 2023
PURPOSE
City Council is being asked to memorialize an affordable housing baseline estimate for a commitment related to Proposition 123 and authorize the City Manager or their designee to make a submission related thereto. This item was discussed in depth at the September 12, 2023 Study Session of the City Council.
BACKGROUND / DISCUSSION
Proposition 123 was approved by Colorado voters in November of 2022, resulting in the new Statewide Affordable Housing Fund that is expected to distribute about $300 million annually to assist affordable housing developments and other related programs throughout Colorado.
In order to be eligible to receive Proposition 123 funds, a local government is required to "opt in" to the program and commit to increase the supply of affordable housing in their community by nine percent (9%) over the next three (3) years.
Affordable housing commitments must be filed with the Colorado Department of Local Affairs ("DOLA") on or before November 1, 2023.
Prior to filing a commitment an affordable housing baseline estimate for the local municipality is required to be set that can be substantiated, implemented, and periodically updated.
The consulting firm of Gruen Gruen + Associates conducted the necessary analysis in order to set an affordable housing baseline estimate for the City of Brighton of 1,492 units. As such, the City of Brighton's nine percent (9%) increase for the three (3) year commitment is 135 units. See the attached memorandum for additional information.
Local governments that do not accomplish their goal to increase affordable housing become ineligible for funding originating from the State Affordable Hou...
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