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HomeMy WebLinkAbout2023 - RESO 46 - commitment State of CO for eligibility of Prop 123 fundsCITY OF WHEAT RIDGE, COLORADO RESOLUTION NO. 46 Series of 2023 TITLE: RESOLUTION NO. 46-2023 – A RESOLUTION IN SUPPORT OF THE CITY FILING A COMMITMENT TO THE STATE OF COLORADO, DIVISION OF HOUSING, TO INCREASE THE CITY’S SUPPLY OF AFFORDABLE HOUSING TO BE ELIGIBLE FOR FUTURE PROPOSITION 123 FUNDS WHEREAS, the City of Wheat Ridge has learned through recent community engagement that housing affordability and housing choice are among the City’s most significant issues; and WHEREAS, City Council adopted the Affordable Housing Strategy and Action Plan on January 9, 2023, that prioritizes addressing housing affordability in Wheat Ridge; and WHEREAS, Colorado voters enacted Proposition 123 in 2022 that will make several hundred million dollars available to affordable housing developers statewide starting in 2023 for affordable housing projects; and WHEREAS, in order for any affordable housing projects in Wheat Ridge to be eligible for Proposition 123 funds over the next three years, the City of Wheat Ridge must file a commitment by November 1, 2023, to increase the city’s number of affordable housing units by 9% over three years through December 31, 2026; and WHEREAS, City Council desires to file a commitment to the State of Colorado, Division of Housing to increase Wheat Ridge’s supply of affordable housing by 218 units (9%) over the next three years so that affordable housing projects, consistent with the Affordable Housing Strategy and Action Plan and other related City adopted plans, may be eligible for Proposition 123 funds. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, Colorado, as follows: 1. The City Council hereby supports the City filing a commitment to the State of Colorado, Division of Housing to increase the city’s supply of affordable housing to be eligible for future Proposition 123 funds. DONE AND RESOLVED this 25th day of September 2023. ________________________________ Bud Starker, Mayor ATTEST: Steve Kirkpatrick, City Clerk