Parker Commits to Increasing Affordable Housing Units
The Town of Parker has pledged to increase the amount of affordable housing in the community by committing to the Colorado Department of Local Affairs Proposition 123. At the October 3, 2023 Council meeting, the Parker City Council unanimously approved a resolution to acknowledge the town’s commitment to a regional partnership with Douglas County jurisdiction.
Proposition 123 was approved by Colorado voters last November and was created to increase the supply of affordable housing and create programs to help the homeless. It also created the State Affordable Housing Fund, which dedicates 40% of the new funding to the Affordable Housing Support Fund and 60% to the Affordable Housing Financing Fund.
To receive funding from the program, communities must commit to increasing their affordable units by 3% a year for the next three years, or 9% total.
Parker has chosen to participate in the Douglas Housing Parnership’s regional approach to ensure all funding stays local, have representation on the housing partnership board with a say in how funding is used, increase downpayment assistance availability, increase funds for affordable home ownership options, and increase funding to support homelessness prevention.
You can read more about this regional approach and Proposition 123 in a recent article from the Parker Chronicle.