Under Prop. 123, Colorado has allocated millions in funds this year to governments and housing organizations

By Tatiana Flowers | Colorado Sun

State leaders have already distributed millions of dollars this year to dozens of local governments and housing organizations that have pledged to build affordable units across Colorado in the coming years.

The state departments of local affairs and economic development and the Colorado Housing Finance Authority, for example, have awarded nearly $80 million to local governments and housing organizations that plan to build affordable units using funds solely from Proposition 123.

Voters approved the ballot measure in November 2022 and it requires participating local governments to plan to build at least 3% more affordable housing every year for the next three years. 

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