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March 22, 2023

Proposition 123 DOLA Funding Programs Workshop on March 24

Dear CHFA Stakeholders,

On behalf of our Proposition 123 implementation partners at Colorado Division of Housing (DOH), we are sharing their message about the upcoming workshop.

Message from Colorado Division of Housing (DOH)

You may now register for our DOLA funding Programs Workshop scheduled to take place from 2:00pm to 4:00pm. on Friday, March 24th. We hope you are able to join us. The meeting will be recorded and made available if you are not able to do so.

If you missed part or all of our last meeting held on Wednesday, March 15th, where we covered local government baseline and commitment requirements, a recording of the meeting is available through our interactive Prop 123 website. You will find the link on the right hand side of the website, directly under the "Subscribe for Updates" section. The slide deck for that presentation is also available under the "Resources" section on the right hand side; it is the last item listed.

State Affordable Housing Fund

DOLA is to receive 40% of the funds, which is estimated to be as follows for the next two years:
  • Year 1 - $58 million for this fiscal year (January 1st - June 30th)
  • Year 2 - $116 million next fiscal year (July 1, 2023 - June 30, 2024)

DOLA is to utilize these funds to administer three programs:
  1. Affordable Home Ownership Program - up to 50% or $29 million of the anticipated funds in year 1 and $58 million in year 2
  2. Program Servicing Persons Experiencing Homelessness - up to 45% or $26.1 million of the estimated funds in year 1 and $52.2 in year 2
  3. Local Planning Capacity Development Program - up to 5% or $2.9 million of the estimated funds in year 1 and $5.8 in year 2
We look forward to discussing these funding opportunities at our meeting this Friday.

The other 60% of Prop 123 funds will be covered at a separate workshop event hosted by OEDIT and CHFA, which is scheduled to take place from 3:00pm to 5:00pm on Tuesday, April 4th. Additional details to follow.


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