November 14, 2024
Voter-Approved Affordable and Attainable Housing Tax To Go Towards Development, Housing Supportive Services, Grant Funding
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The county will begin to collect the tax in January 2025
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- $9.7 million will go towards development of new affordable housing and $5 million will go towards supportive services to help residents maintain housing and prevent homelessness.
- $500,000 will go towards a new Innovation Grant Program for nonprofit organizations and small towns and cities within Boulder County.
- To receive this information in another language, contact Gloria Handyside (303) 441-1622 ghandyside@bouldercounty.gov
Boulder County, Colo. -- The Boulder County Commissioners have announced that the revenue from the new Affordable and Attainable Housing Tax (AAHT) will fund development of new affordable homes, housing supportive services, and grant funding for nonprofits and small towns and cities. Boulder County voters overwhelmingly approved the tax in 2023 and the AAHT is projected to provide $16.7 million in revenue in 2025.
As outlined in the Affordable and Attainable Housing Ballot Measure Resolution, the existing resources and revenue that are available to meaningfully address Boulder County’s affordable housing and related needs are considerably insufficient, which is why the commissioners put the idea of a dedicated and reliable source of funding to voters.
“Housing is a top priority for Boulder County residents and the Boulder County Commissioners,” said Commissioner Marta Loachamin. “We are grateful to voters who approved funding for affordable and attainable housing. These new local dollars are essential to leverage state and federal funds and private investment in order to expand housing opportunities for workforce and low-income housing. We are thankful to our community partners, and all those who have participated in housing assessments throughout the county, for their input in this process as we continue to work together to improve affordable housing opportunities for our community.”
“Supportive services, such as emergency rental assistance and eviction prevention resources, are essential to keeping our community members housed and able to work,” said Commissioner Claire Levy. “These types of supports are proven to keep families and individuals in stable housing, preventing homelessness and more expensive impacts in other systems like health care, schools, or criminal justice. Housing stability helps everyone, from children to older adults, to be safe and healthy.”
“Access to affordable and attainable housing is at its heart an equity issue,” said Commissioner Ashley Stolzmann. “Data shows that a disproportionately high percentage of residents of color and women experience housing instability. Through the new Innovation Grant Program, we are eager to see pilot projects and new ways to address this aspect of the housing crisis.”
Funding Distribution
After setting aside required amounts for a reserve and fund-administration (in keeping with county finance policy and good governance practices), about 65 percent ($9.7m) of the remaining revenue will go towards development of new affordable housing units and 35 percent ($5m) will go towards supportive services to help residents maintain housing and prevent homelessness. The remaining $500,000 will go towards a new grant program for nonprofits and small towns and cities. This formula will be replicated for three years.
Development
The development funds for affordable housing will be divided proportionately by population across the county with 30 percent of the funds going to Longmont, 32 percent to Boulder, and 38 percent for the rest of Boulder County. The cities of Boulder and Longmont will be responsible for determining which affordable housing projects to financially support in their communities. Boulder County will convene a group of city and town managers from other communities to recommend to the commissioners how to invest in projects in other parts of Boulder County.
Supportive Services
The funding for supportive services will allow the Boulder County Housing Department’s Supportive Housing Unit to provide evidence-based programming throughout Boulder County for case management and needs assessment to ensure that residents in affordable housing units can remain housed and economically mobile. The new funding allows for expansion of services to all residents who live in Housing Authority properties or receive vouchers for rent support. Residents can receive emergency rental assistance, as well as referrals for mental health, personal finance, career development, employment counseling and other services through this program.
Grant Funding
A new Innovation Grant Program for nonprofits or small cities or towns within Boulder County will launch in 2025. The aim of the program is to try new approaches to address housing disparities and develop a culture of learning and experimentation within housing programs. More information on applying for these funds will be available in 2025.
Engagement with Community Partners
In deciding how to distribute the funds, the commissioners sought input from community partners through six listening sessions this year. Public work sessions were held on June 20 and August 26. Several diverse options were presented to the commissioners in September from city and town managers and staff, public housing authorities, nonprofit partners, and county staff.
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