Legislation would invest $185 million of federal pandemic relief dollars toward creating more affordable housing and empowering mobile homeowners to purchase their parks
DENVER, CO – The House passed two bills today to make housing more affordable. SB22-159 and SB22-160 are part of a package of bills recommended by the Transformational Affordable Housing Task Force to invest $185 million to save Coloradans money on housing.
SB22-159, sponsored by Representatives David Ortiz, D-Littleton and Perry Will R-New Castle, passed the House by a vote of 42 to 23. Despite bipartisan sponsorship, 23 House Republicans voted against this bill which would allocate $150 million to build more affordable housing, a record setting investment for the state of Colorado.
“Today, we passed the largest affordable housing investment in state history and I’m proud of the bipartisan work we’ve done this session to save Coloradans money on housing,” said Rep. David Ortiz, D-Littleton, sponsor of SB22-159. “However, I’m disappointed my Republican colleagues voted against building more homes in Colorado when more home construction is exactly what we need to bring down housing costs. This legislation invests $150 million to create, modify and improve Colorado’s affordable housing stock and is self-sustaining so Coloradans now and in the future can save money on housing. I’m proud to send this bill forward because it fulfills our promise to make housing more affordable for Coloradans across the state.”
Revolving Loan Fund Invest Affordable Housing: SB22-159, sponsored by Representatives David Ortiz and Perry Will would invest $150 million to create the Transformational Affordable Housing Revolving Loan Program to develop and integrate housing-related infrastructure, provide gap financing for affordable housing development projects, and preserve and rehabilitate existing affordable housing.
“Resident owned communities are the key to keeping more Coloradans living in mobile parks housed,” said Rep. Andrew Boesenecker, D-Fort Collins, sponsor of SB22-160. “Mobile homeowners often face an uphill battle when it comes to fighting lot-rent price increases, so our legislation invests critical resources to empower mobile homeowners to purchase the land their homes sit on. This bill keeps mobile homes affordable, protects our neighbors and keeps our communities whole.”
“Despite their name, mobile homes are difficult and expensive to move, which is why empowering mobile homeowners to buy the land their homes sit on saves them money and keeps them housed. Our bill expands critical protections for mobile home park residents so they can invest in their own communities,” said Rep. Mandy Lindsay, D-Aurora, sponsor of SB22-160.
Loan Program Resident Owned Communities: SB22-160, sponsored by Representatives Andrew Boesenecker and Mandy Lindsay, passed the House by a vote of 41 to 24. This bill would invest $35 million into the newly created Mobile Home Park Resident Empowerment Loan and Grant Program Fund. The Fund will provide financing to eligible mobile home homeowners so they can purchase the land under their homes and convert into a resident-owned community.
Additionally, the bill establishes a mechanism for nonprofits to receive grant funding to provide technical assistance to homeowners and help them build the capacity, resources, and know-how to organize and purchase their mobile home park. This bill will provide a critical financial tool for mobile homeowners across the state at risk of displacement or exorbitant lot rent increases that often occur when a park is sold from one for-profit owner to another.