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241E17B89A58BC4E87258757005388FE Hearing Summary


Date Sep 21, 2021      
Location Old Supreme Court

Overview of Subpanel Work - Committee Discussion Only

09:12:29 AM  
Brian Rossbert and
Cathy Alderman, representing the Subpanel of the Affordable Housing Transformational
Task Force, talked about their work.  Ms. Alderman introduced the
subpanel members.  A presentation was provided (Attachment A).

09:17:03 AM  
Mr. Rossbert talked
about the pillars or areas of focus established by the subpanel.
09:19:45 AM  
Ms. Alderman discussed four big questions that the task force will need to answer.
09:20:13 AM  
The task force discussed
requirements related to federal funds and COVID-19.

09:21:54 AM  
Ms. Alderman provided
a definition of affordable housing.

09:24:50 AM  
The task force discussed
gaps in affordable housing, including supply, funding, infrastructure,
tenancy support, and systems and administrative agencies.

09:28:24 AM  
Ms. Alderman talked
about groups disproportionately impacted by the COVID-19 pandemic.  She
suggested that when considering programs the task force may need information
about the impact of programs, including economic impact, since funding
may not address every impact.
09:30:34 AM  
The task force discussed
the American Rescue Plan Act regulations surrounding various populations,
including those with a lower income, people of color, and tribal communities.
 Other communities may be eligible, as long as impacts to the community
are specific and known.
09:31:38 AM  
Ms. Alderman talked
about the information that the subpanel needs: how the Behavioral Health
Task Force is proceeding and how funds may be leveraged between the two
task forces; the Low Income Housing Tax Credit (LIHTC), including state
and federal guidelines; and county and local housing needs, including best
practices, models, and other information.  A member suggested that
LIHTC information may be available through CHFA.

09:33:43 AM  
The task force discussed
easing state requirements and accessing resources; and other information
needs, including homeownership gaps and how to fill those gaps, and the
unique needs of communities.
09:35:22 AM  
Ms. Alderman will
provide a list of subpanel information needs to the task force.

09:35:50 AM  
The task force discussed
the use of 30 percent of area median income (AMI) as a standard to identify
families cost burdened by housing.  The discussion included the elements
of housing costs, incluing utilities and mortgage or rent.  Several
members talkeda about hom the AMI is used to access subsidies and vouchers,
and other federal assistance programs.  Subpanel members indicated
this measure is used to determine if families can continue to pay for other
costs, such as food.
09:39:29 AM  
Task force members
discussed a comparison between median income and AMI and cross referencing
these measurements to communities.  Subpanel members expressed an
interest in  exploring this subject.

09:41:31 AM  
Choices by individuals
related to employment and housing were discussed by members.

09:43:31 AM  
Task force and supbanel
members discussed the percentage of need for types of housing along the
housing continuum. Members discussed information about the geographic concentration
of need for housing.  
09:48:53 AM  
Alison George, representing
the Department of Local Affairs (DOLA), Division of Housing, indicated
that her presentation will provide more information about AMI and local
09:49:20 AM  
There was a discussion
about the origin and history of AMI and housing costs.
09:50:44 AM  
There was a discussion
about stabilizing existing affordable housing and the impact of short term
rentals.  Subpanel members indicated that they had no specific recommendations
at this time.  Some members expressed an interest in state guidelines
for this issue.  A task force member suggested that conversations
should include a balance between rentals and ownership.  

Subpanel members
indicated that they are discussing needs along the housing continuum and
would benfit from additional information.  

The conversation
turned to home ownership funding and policy issues.  Task force members
expressed an interest in investing in long term solutions, including home
ownership and building generational wealth.  

The task force
talked about land banks, including land trust representation on the subpanel.
 A member discussed placement of land in a trust as a possible federal
fund expenditure.
09:55:30 AM  
The task force discussed
a definition of land banking.
09:55:47 AM  
Task force members
discussed homeownership and first-time buyers, including barriers to ownership
such as supply, systems, program funding, and the availability of different
types of homes.
09:57:43 AM  
The conversation
turned to state and local guidelines related to affordable housing, especially
the interplay between the levels, as well as zoning regulations.

09:59:38 AM  
Ms. Alderman indicated
that the subpanel also needs information about the LIHTC and state and
federal housing tax credits, including competitiveness and number of housing
units built.
10:01:13 AM  
Cris White, respresenting
the Colorado Housing and Finance Authority (CHFA), shared that the LIHTC
is over subscribed and the number of units built varies.  CHFA will
provide this information to the subpanel.
10:01:48 AM  
Task force members
asked if there were points of debate for the subpanel.  Ms. Alderman
responded that there has been some debate about the responsibility of the
market to provide affordable housing.  She mentioned that there has
also been some discussion about where to use limited government funding
to fix issues, for example in the areas of programming or supply.

10:03:56 AM  
The task force discussed
weighting the priority of each proposed solution and measuring success.

10:05:59 AM  
The committee took
a break.

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