322D630F567389D98725879D007771BD Hearing Summary

PUBLIC
BILL SUMMARY For DISCUSSION OF FUNDING RECOMMENDATIONS

INTERIM COMMITTEE AFFORDABLE HOUSING TRANSFORMATIONAL TASK FORCE
Date Nov 30, 2021
Location Old State Library

Discussion of Funding Recommendations - Committee Discussion Only


	02:44:41 PM	The chair talked about the goal of the discussion and debate. This week the task force will determine which recommendations should move forward. Next week the task force will allocate funds.
	02:46:13 PM	There was a discussion about future task force meetings.
	02:47:07 PM	The task force discussed recommendation A, which would establish a revolving loan fund. Task force members discussed combining other recommendation into A, the transformational nature of the recommendation, as well as the future of affordable housing. Director George indicated that DOLA administers many funds where this recommendation is appropriate.
	02:56:06 PM	A task force member pointed out that recommendation A aligns with the Governor's recommendations. The committee discussed work force housing.
	02:58:49 PM	The task force talked about recommendation B, which creates gap financing including expansion of tax credit programs.
	02:59:25 PM	The task force discussed recommendation C, which would provide funding to nonprofits and local governments for grants. A member suggested that grants should link with the revolving loan fund. Other members talked about how the subpanel ranked the recommendation and that the recommendation could bring transformational change.
	03:04:12 PM	There was a discussion about folding recommendation B into recommendation C. Ms. George indicated that gap financing could fit under revolving loan funds and nonprofit and local government grants.
	03:06:22 PM	A task force member mentioned that several members are sponsoring legislation related to the affordable housing tax credit, increasing the limit and extending the time period.
	03:07:14 PM	The committee discussed recommendation D, which proposes developing strategies to maintain existing affordable housing. A committee member suggested that this recommendation be folded into the nonprofit and local government grants to support local decisions.
	03:12:36 PM	Ms. Alderman suggested that there may be a preference for loans, however grants are needed for some situations. There was a discussion about the use of nonprofit and local government grants to fund projects related to House Bill 21-1271. Ms. Alderman indicated that the subpanel had not envisioned administering funds through current programs.
	03:17:26 PM	A member questioned the transformational nature of maintaining existing affordable housing and otherd discussed folding the recommendation into another recommendation.
	03:20:27 PM	The task force discussed recommendation E, which addresses issues related to resident owned communities such as mobile home parks, and land-banking. Ms. Alderman discussed the recommendation.
	03:24:20 PM	A task force member suggested that recommendation E could be folded into recommendations A and/or C. There was a discussion about whether or not funding in this recommendation would go to the mobile home parks program. Ms. George indicated that this Division of Housing program is for oversight with no administration of grant funds.
	03:27:34 PM	A task force member voiced their support for recommendation E and the benefits of the review of mobile home park acquisition.
	03:30:05 PM	The committee discussed recommendation F, property conversion for transitional or long term housing. The discussion included the need for this option, as well as overlap with the Governor's proposal related to homelessness. Ms. Toombs indicated that funding for the Governor's proposal has not been finalized and may include other sources.
	03:32:33 PM	Ms. Toombs talked about overlap between recommendation F and the Governor's proposal to address the needs of the homeless.
	03:33:37 PM	The task force discussed recommendation G, permanent supportive housing and supportive services fund. A task force member discussed the need for services and several members voiced support. The discussion also included alignment with the Behavioral Health Transformational Task Force. Ms. Alderman indicated that this recommendation could be funded in a number of ways, but the subpanel talked about this item as a priority.
	03:41:02 PM	The task force discussed recommendation H, sustainable rental assistance. The discussion included rental assistance as a way to keep families housed right now while additional housing is being built.
	03:44:43 PM	Director George talked about rental assistance, with over $200 million spent thus far and $300 million remaining. She indicated that these funds may be stabilizing for families, but these funds are short term and not sustainable.
	03:46:11 PM	A member talked about the transformational nature of sustainable rental assistance. The task force discussed the long-term use of emergency rental assistance, through 2023.
	03:47:36 PM	The task force discussed recommendation I, that would create a homeowner obtainment fund. The discussion noted the lack of testimony on this recommendation and the availability of affordable housing for such a fund.
	03:51:36 PM	The task force discussed recommendation J, that would encourage teh development of both a modular housing industry and modular homes as part of an assortment of affordable housing options. Several members voiced support for the recommendation while other members suggested that the Task Force on Economic Recovery and Relief Cash Fund may be a better fit for the recommendation. There was also a discussion about combining recommendations J and K.
	03:56:34 PM	The task force discussed recommendation K.
	04:01:45 PM	The task force discussed that a fund does not currently exist for recommendation K, although the recommendation does have the potential to transform.
	04:04:09 PM	Recommendation K was discussed as a potential for community partnership and leveraging local funding and other resources.
	04:05:12 PM	The task force discussed the Governor's proposal one: Strong Communities. The recommendation was discussed as a way to provide incentives to local governments to overcome obstacles to housing. The task force discussed possible overlap with recommendations A and C, and possibly folding the proposal into recommendation C. Mr. Toor talked about the competitive nature of the Governor's proposal, where communities work to create the best infill developments.
	04:12:38 PM	The task force discussed the Governor's proposal two: providing financing for green energy within affordable housing. There was a discussion about whether grants are the best way to fund this proposal and whether the proposal should be folded into recommendations A or C. Mr. Toor talked about the proposal related to new housing.
	04:18:21 PM	The task force discussed the Governor's proposal three: an innovative housing incentive program, including modular housing incentives. A task force member talked about the proposal as a way to build affordable housing quickly. Several members discussed the recommendation as a business development proposal to construct more affordable housing.
	04:25:01 PM	The task force discussed the Governor's proposal four: developing the CHFA missing middle workforce housing.

Discussion of Funding Recommendations - Committee Discussion Only

Colorado General Assembly