Colorado Cuts Affordable Housing Funds

Colorado Lawmakers Slash Affordable Housing Funding Amidst Budget Crisis Colorado lawmakers are reducing funding for affordable housing, despite voter approval for Proposition 123, which dedicated sales tax revenue to build rentals for low-income families. The state budget proposal cuts $130 million from this program, impacting developers who rely on it for projects. Additionally, the Joint Budget Committee reduced $28 million from $30 million in housing grants and voted to repeal a law for future funding. These cuts are part of a $1.5 billion deficit reduction plan, as voters did not approve new taxes under the Taxpayers Bill of Rights. Housing advocates and developers express concern over rising homelessness, evictions, and project delays due to these cuts. Some pushback is happening in hearings, with advocates pushing for funds to be focused on the poorest households. The House is currently debating the budget, leaving low-income families waiting longer for stable housing options. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9d556dd02dd96418