HomeMy WebLinkAboutresolution.council.168-23RESOLUTION #168
(Series of 2023)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO, RESCINDING RESOLUTION 142, SERIES 2023, AND
APPROVING THE FILING OF A PROPOSITION 123 AFFORDABLE
HOUSING COMMITMENT WITH THE STATE OF COLORADO, AND
AUTHORIZING THE CITY MANAGER TO EXECUTE SAID COMMITMENT
ON BEHALF OF THE CITY OF ASPEN, COLORADO
WHEREAS, Colorado voters approved Proposition 123 in November 2022
dedicating .1 percent of annual state income tax revenue to be spent on affordable
housing; and
WHEREAS, in order to be eligible for Proposition 123 grants or loans over
the next three years, entities must file a commitment with the state of Colorado to
increase the number of affordable housing units over its base amount by 3 percent
annually or a total of 9 percent for the first three-year cycle by Nov. 1, 2023; and
WHEREAS, filing a conunitment for the Proposition 123 Affordable
Housing program unlocks Aspen's ability to apply for related affordable housing
funding from the state; and
WHEREAS, in order to file a commmitment for the Proposition 123
Affordable Housing program, Aspen must establish an affordable housing baseline
referencing the American Community Survey 5-Year Estimates for 2017-2021 or
the Comprehensive Housing Affordability Strategy Estimates for 2015-2019 in
preparing the commitment; and
WHEREAS, the Local Government Affordable Housing Baseline Assistance
Tool, using Pitkin County Area Median Income and adjusting for market factors,
shows the annualized commitment estimate at 9 units; and
WHEREAS, the City Council previously adopted Resolution 142 with
numbers that did not consider adjusting for market factors; and
WHEREAS, the City Council finds that filing a commitment for the
Proposition 123 Affordable Housing program with the state of Colorado furthers
Aspen's affordable housing goals
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ASPEN, COLORADO,
That the City Council of the City of Aspen herby rescinds Resolution 142,
and
That the City Council of the City of Aspen hereby approves the filing of a
Proposition 123 affordable housing commitment with the state of Colorado for the
City of Aspen using the Local Government Affordable Housing Baseline
Reference Table and adjusted market factors for the next three-year funding cycle.
INTRODUCED, READ AND ADOPTED by the City Council of the City of
Aspen on the 30" day of October 2023.
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Torre, Mayor
I, Nicole Henning, duly appointed and acting City Clerk do certify that the
foregoing is a true and accurate copy of that resolution adopted by the City Council
of the City of Aspen, Colorado, at a meeting held, on October 30th, 2023.
& 4LA
Nicole Henning, City Clerk