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House passes bill to increase Colorado’s affordable housing stock and invest in affordable housing needs
DENVER, CO– The House today passed a bill sponsored by Steven Woodrow and Serena Gonzales-Gutierrez to channel federal stimulus dollars toward affordable housing projects and help Coloradans who have been disproportionately impacted by the pandemic obtain affordable housing. The bill passed the House on Third Reading.
“This has been a historic session in many ways, and the bold housing investments we laid out in this bill is no different,” said Rep. Serena Gonzales-Gutierrez, D-Denver. “With the federal funds at our disposal, we have the opportunity to think long-term and get to some of the roots of this issue. I’m excited to further dig into the issue during the interim and help make truly transformational change. At the same time the bill tackles the critical need to make immediate investments that help keep Coloradans housed.”
“The bill we passed today makes historic, unprecedented investments that will help keep Colorado families housed,” said Rep. Steven Woodrow, D-Denver. “Even before the pandemic threatened to leave countless families homeless, the need for action on housing in Colorado was undeniable. Our proposal responds to this need in both an immediate and long-term way.”
HB21-1329 channels $550 million in federal stimulus funds toward affordable housing efforts. It immediately invests $100 million of that funding to help Coloradans who have been disproportionately impacted by the pandemic obtain affordable housing. The bill requires a broad and diverse stakeholder process during the interim that will develop and make recommendations to the General Assembly for how to allocate the remaining $450 million. The funds will be used on programs or services that address housing insecurity, a lack of affordable housing or homelessness, including construction of new affordable housing units, housing and rental assistance programs and supportive housing programs. The bill passed by a vote of 40-23.