Larimer County Successfully Meets Prop 123 Requirements

What is Prop 123?

Colorado voters approved Proposition 123 in November 2022 to create the State Affordable Housing Fund, a dedicated revenue stream for affordable housing development. Funded by 0.1% of state income tax revenue, this program aims to support a broad range of housing initiatives throughout the state, including new construction, preservation, land banking, and rental assistance.

What does that mean for the county?

Larimer County opted into Proposition 123 in 2024. This required 2 commitments:

• Implementing a fast-track process for new affordable housing development
• Increasing or preserving affordable housing stock by 3% each year

Larimer County committed to increasing and/or preserving our stock by 113 over the 3 year term, and implemented a fast-track process for affordable housing development in late 2025, meeting both commitments by July 2026.

217 jurisdictions committed for the first cycle, and 20 have met their commitments so far (including Larimer, Estes Park, Berthoud and Wellington).

What’s next?

By being in compliance, Larimer County projects can access Proposition 123 funding to build more affordable housing units in our region.