Amendments for SB22-232
Senate Journal, May 3
After consideration on the merits, the Committee recommends that SB22-232 be amended
as follows, and as so amended, be referred to the Committee on Appropriations with
favorable recommendation.
Amend printed bill, page 3, strike lines 13 through 19.
Reletter succeeding paragraphs accordingly.
Page 4, lines 17 and 18, strike "ESPECIALLY IN OUR TREASURED HERITAGE
NEIGHBORHOODS,".
Page 5, line 8, strike "INTEREST," and substitute "INTEREST".
Page 5, strike lines 9 through 11, and substitute "AND IS A MATTER OF
STATEWIDE CONCERN. THE ACTIVITIES".
Page 5, lines 18 and 19, strike "A PROJECT" and substitute "REAL PROPERTY
THAT HAS THE PRIMARY PURPOSE OF PROVIDING RENTAL HOUSING FOR
MIDDLE-INCOME INDIVIDUALS AND FAMILIES, WHICH PROPERTY IS".
Page 6, after line 10 insert:
"(7) "MIDDLE-INCOME INDIVIDUALS AND FAMILIES" MEANS, ONLY FOR
PURPOSES OF THIS PART 11, INDIVIDUALS AND FAMILIES WITH INCOME LEVELS
DESCRIBED IN SECTION 29-4-1107 (1)(c)(I), AS MODIFIED, IN EXCEPTIONAL
CIRCUMSTANCES, BY THE BOARD PURSUANT TO SECTION 29-4-1107 (2)(c).".
Page 6, line 21, strike "ELEVEN" and substitute "THIRTEEN".
Page 7, line 8, strike "SERVE ON THE BOARD" and substitute "BE THE
DIRECTOR".
Page 7, line 14, strike "WORKS ON THE DEVELOPMENT OF WORKFORCE HOUSING;
AND" and substitute "HAS EXTENSIVE EXPERIENCE DEVELOPING HOUSING AT
EIGHTY PERCENT TO ONE HUNDRED PERCENT AREA MEDIAN INCOME;".
Page 7, line 16, strike "DESIGNEE." and substitute "DESIGNEE; AND".
Page 7, after line 16 insert:
"(F) BE THE DIRECTOR OF THE DIVISION OF HOUSING ESTABLISHED IN
SECTION 24-32-704, OR THE DIRECTOR'S DESIGNEE.".
Page 7, line 20, strike "THREE" and substitute "FOUR".
Page 7, line 21, strike "THREE" and substitute "FOUR".
Page 10, line 18, after "(11)" insert "(a)".
Page 11, after line 6 insert:
"(b) PROPERTY SOLD BY THE AUTHORITY OR OTHERWISE NOT OWNED BY
THE AUTHORITY, A CONTROLLED ENTITY, OR OTHER GOVERNMENTAL ENTITY
EXEMPT FROM TAXATION SHALL BE SUBJECT TO ALL TAXATION AND
ASSESSMENTS IMPOSED BY THE STATE, A CITY, A COUNTY, A CITY AND COUNTY,
ANY OTHER POLITICAL SUBDIVISION OF THE STATE, OR A LOCAL GOVERNMENTAL
ENTITY.".
Page 11, line 11, after "(13)" insert "(a)".
Page 11, after line 19 insert:
"(b) ON A QUARTERLY BASIS, THE AUTHORITY SHALL SUBMIT A REPORT
TO THE GOVERNOR, TO THE STATE AUDITOR, AND TO THE SENATE COMMITTEES
ON FINANCE AND HEALTH AND HUMAN SERVICES OR ANY SUCCESSOR
COMMITTEE, AND THE HOUSE OF REPRESENTATIVES COMMITTEES ON FINANCE,
HEALTH AND INSURANCE AND PUBLIC AND BEHAVIORAL HEALTH AND HUMAN
SERVICES OR ANY SUCCESSOR COMMITTEES. ANY DEVELOPER OR OPERATOR OF
AN AFFORDABLE RENTAL HOUSING PROJECT MUST PROVIDE TO THE AUTHORITY
INFORMATION REQUIRED BY THIS SUBSECTION (13)(b). THE REPORT SHALL
INCLUDE FOR EACH AFFORDABLE RENTAL HOUSING PROJECT:
(I) THE NUMBER OF UNITS DEVELOPED AND MUST SPECIFY AT WHAT
AREA MEDIAN INCOME LEVELS;
(II) THE NUMBER OF UNITS OCCUPIED;
(III) THE AVERAGE AREA MEDIAN INCOME BEING SERVED;
(IV) THE ACTUAL RENTS CHARGED FOR EACH UNIT;
(V) ACTUAL INCOMES OF HOUSEHOLDS RESIDING WITHIN THE UNITS
AND LENGTH OF OCCUPANCY;
(VI) THE AVERAGE MARKET RENT FOR A UNIT OF THE SAME TYPE, SIZE,
AND AMENITIES PRIOR TO THE DEVELOPMENT OF AN AFFORDABLE RENTAL
HOUSING PROJECT; AND
(VII) THE AVERAGE MARKET RENT FOR A UNIT OF THE SAME TYPE, SIZE,
AND AMENITIES AFTER ONE YEAR OF OCCUPANCY OF AT LEAST 50% OF THE
UNITS DEVELOPED IN THE AFFORDABLE RENTAL HOUSING PROJECT, AND FOR
EACH YEAR THEREAFTER.".
Page 13, line 12, strike "PART 11;" and substitute "PART 11. NOTHING IN THIS
SUBSECTION (1)(m) GRANTS THE AUTHORITY THE POWER TO REDEFINE TERMS
THAT ARE ALREADY DEFINED IN THIS PART 11.".
Page 15, line 24, strike "ACTIVITIES;" and substitute "ACTIVITIES. THE
AUTHORITY SHALL HIRE FULL-TIME STAFF WHO ARE FULL-TIME EMPLOYEES OF
THE AUTHORITY AND ARE RESPONSIBLE FOR COMPLIANCE WITH PUBLIC MEETING
LAWS AND OPEN RECORDS REQUESTS, AFFORDABLE RENTAL HOUSING PROJECT
PROPOSAL SOLICITATION AND REVIEW, AND REPORTING.".
Page 17, line 5, after "PROPOSALS" insert "AS PART OF AN INITIAL PILOT
PROGRAM".
Page 17, line 8, after the period add "THE AUTHORITY MAY CONTINUE TO
SOLICIT PROPOSALS AS PART OF THE INITIAL PILOT PROGRAM; EXCEPT THAT THE
AUTHORITY SHALL SELECT PROPOSED AFFORDABLE RENTAL HOUSING PROJECTS
THAT WILL DEVELOP AN AGGREGATE OF NOT MORE THAN THREE THOUSAND FIVE
HUNDRED UNITS. AFFORDABLE RENTAL HOUSING PROJECTS SELECTED IN THE
INITIAL PILOT PROGRAM MUST HAVE GEOGRAPHIC, INCOME, AND PROJECT-SIZE
DIVERSITY AND BE PROPOSED BY A VARIETY OF DEVELOPER ENTITIES INCLUDING
NONPROFITS, HOUSING AUTHORITIES, FOR-PROFIT DEVELOPERS, OR LOCAL
GOVERNMENTS.".
Page 17, line 9, strike "THE" and substitute "SUBJECT TO THE PROVISIONS OF
SUBSECTION (1)(a) OF THIS SECTION, THE".
Page 17, line 20, after the period add "THE AUTHORITY'S OVERALL PORTFOLIO
OF AFFORDABLE RENTAL HOUSING PROJECTS MUST MAINTAIN THAT EIGHTY
PERCENT ARE NEW BUILD CONSTRUCTION PROJECTS.".
Page 18, strike lines 6 through 19 and substitute "FAMILIES WITH ANNUAL
INCOME OF THE HOUSEHOLD BETWEEN EIGHTY PERCENT AND ONE HUNDRED
TWENTY PERCENT OF THE AREA MEDIAN INCOME OF THE HOUSEHOLDS OF THAT
SIZE IN THE COUNTY IN WHICH THE AFFORDABLE RENTAL HOUSING PROJECT IS
LOCATED; EXCEPT THAT, FOR MIDDLE-INCOME INDIVIDUALS AND FAMILIES
RESIDING IN A RURAL RESORT COUNTY, THE ANNUAL INCOME OF THE
HOUSEHOLD SHALL BE BETWEEN EIGHTY PERCENT AND ONE HUNDRED FORTY
PERCENT OF THE AREA MEDIAN INCOME OF THE HOUSEHOLDS OF THAT SIZE IN
THE COUNTY IN WHICH THE AFFORDABLE RENTAL HOUSING PROJECT IS
LOCATED;".
Page 18, line 23, strike "AND".
Page 18, strike lines 24 through 27 and substitute:
"(IV) PROVIDES FOR THE LONG-TERM AFFORDABILITY OF RENTAL UNITS;
(V) HAS MINIMAL NEGATIVE IMPACT ON EXISTING OR PLANNED
AFFORDABLE HOUSING PROJECTS IN THE STATE, WHICH IMPACTS SHALL BE
EVALUATED BY THE AUTHORITY IN CONSULTATION WITH OTHER HOUSING
AUTHORITIES, NONPROFITS, LOCAL GOVERNMENTS, OR ANY OTHER APPLICABLE
ENTITY;
(VI) TARGETS A DIVERSE RANGE OF INCOME LEVELS AND PROPOSES AT
LEAST TWENTY PERCENT OF THE RENTAL UNITS FOR INDIVIDUALS AND FAMILIES
WITH ANNUAL INCOME OF THE HOUSEHOLD AT EIGHTY PERCENT OF THE AREA
MEDIAN INCOME OF HOUSEHOLDS OF THAT SIZE IN THE COUNTY IN WHICH THE
HOUSING IS LOCATED OR DEMONSTRABLY TARGETS THE LOWEST POSSIBLE AREA
MEDIAN INCOME GIVEN THE PROPOSED SCOPE OF THE DEVELOPMENT; AND
(VII) PROMOTES MIXED-INCOME DEVELOPMENT WHERE A PERCENTAGE
OF UNITS, PROPORTIONAL TO THE LOCAL DEMONSTRATED HOUSING NEEDS
WITHIN A PARTICULAR DEVELOPMENT, HAVE RESTRICTED AVAILABILITY TO
HOUSEHOLDS AT OR BELOW THE INCOME LEVELS SPECIFIED IN SUBSECTION
(1)(c)(I) OF THIS SECTION. THE PERCENTAGE OF RESTRICTED UNITS AND
AFFORDABILITY LEVELS MUST COMPLY WITH ANY LOCAL LAWS PROMOTING THE
DEVELOPMENT OF NEW AFFORDABLE HOUSING UNITS PURSUANT TO SECTION
29-20-104 (1).".
Page 19, strike lines 8 through 18.
Page 20, after line 1, insert:
"(II) SHOW HOW THE DEVELOPMENT ALIGNS WITH THE IDENTIFIED
NEEDS OF A COMMUNITY WHERE THE PROPOSED AFFORDABLE RENTAL HOUSING
PROJECT WILL BE LOCATED, AS DEFINED IN THE COMMUNITY'S HOUSING NEEDS
ASSESSMENT, WHERE AVAILABLE.".
Renumber succeeding subparagraphs accordingly.
Page 20, line 24, after the period add "A PROPOSED AFFORDABLE RENTAL
HOUSING PROJECT THAT RECEIVES A WAIVER BY THE BOARD PURSUANT TO THIS
SUBSECTION (2)(c) MUST STILL TARGET MIDDLE-INCOME HOUSING IN THE
PROPOSAL.".
Page 21, strike lines 1 through 7 and substitute "INCLUDE AN AGREEMENT FROM
THE DEVELOPER AND THE OPERATOR".
Page 21, after line 10 insert:
"(4) (a) THE AUTHORITY SHALL ESTABLISH A PROCESS TO PROVIDE
NOTIFICATION TO LOCAL GOVERNMENTAL ENTITIES WHERE A PROPOSED
AFFORDABLE RENTAL HOUSING PROJECT WILL BE LOCATED PRIOR TO SELECTION
OF THE PROJECT.
(b) THE AUTHORITY MUST WORK IN COOPERATION WITH AND SOLICIT
FEEDBACK FROM OVERLAPPING LOCAL GOVERNMENTAL ENTITIES FOR ANY
PROPOSED AFFORDABLE RENTAL HOUSING PROJECT. IF, AFTER GOOD FAITH
NEGOTIATIONS, A HOME RULE MUNICIPALITY THAT HAS OPTED INTO THE PILOT
PROGRAM SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION, OR A COUNTY IF
A PROPOSED AFFORDABLE RENTAL HOUSING PROJECT IS LOCATED OUTSIDE OF
A HOME RULE MUNICIPALITY AND THAT HAS OPTED INTO THE PILOT PROGRAM
SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION, IN COOPERATION WITH OTHER
IMPACTED ENTITIES, DETERMINES THAT THE PROPOSED AFFORDABLE RENTAL
HOUSING PROJECT IS NOT FEASIBLE AS PROPOSED, THE AUTHORITY SHALL NOT
SELECT THE PROPOSED AFFORDABLE HOUSING RENTAL PROJECT.".
Renumber succeeding subsections accordingly.
Page 21, line 16, after the period add "THE AUTHORITY MAY ESTABLISH
ADDITIONAL RESTRICTIONS ON DEVELOPER FEES, INCLUDING CAPS ON
OPERATING FEES AND OTHER MARKUPS, WHICH SHALL BE SET FORTH IN THE
CONTRACT.".
Page 21, line 19, strike "AUTHORITY." and substitute "AUTHORITY; EXCEPT
THAT, AND SUBJECT TO APPROVAL BY THE AUTHORITY, A HOUSING AUTHORITY
WHOSE PROPOSAL IS SELECTED MAY RETAIN A PORTION OF INTEREST IN THE
AFFORDABLE RENTAL HOUSING PROJECT.".
Page 22, after line 12, insert:
"(9) THE AUTHORITY SHALL CONTRACT WITH AN OUTSIDE GROUP TO
EVALUATE THE SUCCESS OF ITS AFFORDABLE RENTAL HOUSING PROJECTS.".
Renumber succeeding subsections accordingly.
Page 22, line 13, strike "(10)" and substitute "(10) (a)".
Page 22, line 24, after the period insert "RENT SET BY THE AUTHORITY MUST BE
AT LEAST TEN PERCENT BELOW MARKET RENTAL RATES AND SHALL NOT EXCEED
MAXIMUM RENTS FOR HOUSEHOLDS OF A GIVEN SIZE AND INCOME LEVEL AS
PUBLISHED ANNUALLY BY THE COLORADO HOUSING AND FINANCE AUTHORITY
CREATED IN SECTION 29-4-704.
(b) RENTAL UNITS IN AN AFFORDABLE RENTAL HOUSING PROJECT SHALL
NOT BE RENTED ON A SHORT-TERM BASIS.".
Page 23, after line 5 insert:
"(12) THE AUTHORITY SHALL NOT UTILIZE STATE FUNDING WHERE THE
MONEY ORIGINATES FROM THE FEDERAL "AMERICAN RESCUE PLAN ACT OF
2021", PUB.L. 117-2, AS THE ACT MAY BE SUBSEQUENTLY AMENDED, FOR ANY
LOAN, GRANT, OR OTHER PROGRAM ESTABLISHED BY SENATE BILLS 22-146,
22-159, AND 22-160, ENACTED IN 2022, AND HOUSE BILLS 22-1282 AND
22-1304, ENACTED IN 2022.
(13) THE AUTHORITY SHALL NOT USE ANY FUNDING AVAILABLE TO IT
TO ACQUIRE EXISTING FEDERAL LIHTC SUBSIDIZED PROPERTIES ADMINISTERED
BY THE COLORADO HOUSING AND FINANCE AUTHORITY CREATED IN SECTION
29-4-704, THE COLORADO STATE AFFORDABLE HOUSING TAX CREDIT
SUBSIDIZED PROPERTIES, OR THE UNITED STATES DEPARTMENT OF
AGRICULTURE 515 RURAL RENTAL HOUSING LOAN PROGRAM SUBSIDIZED
PROPERTIES WITHOUT GUARANTEES OF CORRESPONDING AFFORDABILITY AND
CONTINUANCE WITH ANY EXISTING RENTAL ASSISTANCE CONTRACTS.".
Page 24, line 4, after "ACTIVITIES" insert "RELATING TO AFFORDABLE RENTAL
HOUSING PROJECTS".
Page 24, line 5, strike "DUTIES." and substitute "DUTIES RELATING TO
AFFORDABLE RENTAL HOUSING PROJECTS.".
Page 26, line 22, strike "PARTY" and substitute "PARTY.".
Page 26, strike line 23.
Page 26, line 24, strike "NEED NOT" and substitute "SHALL".
Page 26, line 25, after the period add "SUCH LIEN OF THE PLEDGE IS SUPERIOR
ONLY TO ANY OTHER LIEN ON THE SAME REVENUE, ASSETS, OR PROPERTY THAT
IS FILED LATER IN TIME OTHER THAN A LIEN FOR PROPERTY TAXES.".
Page 30, line 8, strike "ANY STATE OR LOCAL GOVERNMENT" and substitute
"THE STATE, A LOCAL GOVERNMENT, OR A POLITICAL SUBDIVISION OF THE
STATE, INCLUDING THE COLORADO HOUSING AND FINANCE AUTHORITY
CREATED IN SECTION 29-4-704,".
State,
Veterans, &
Military
Affairs
House Journal, May 10
53 SB22-232 be amended as follows, and as so amended, be referred to
54 the Committee of the Whole with favorable
55 recommendation:
1 Amend reengrossed bill, page 6, line 10, strike "LOCATED;" and substitute
2 "LOCATED, AS MODIFIED, IN EXCEPTIONAL CIRCUMSTANCES, BY THE
3 BOARD PURSUANT TO SECTION 29-4-1107 (2)(c);".
4
5 Page 6, strike line 27.
6
7 Strike page 7 and substitute:
8 "(b) THE BOARD CONSISTS OF THIRTEEN PERSONS.
9 (c) THE GOVERNOR SHALL APPOINT TO THE BOARD, WITH THE
10 CONSENT OF THE SENATE:
11 (I) AT LEAST ONE MEMBER WITH EXPERIENCE IN ONE OF EACH OF
12 THE FOLLOWING AREAS:
13 (A) THE DEVELOPMENT OF RENTAL HOUSING;
14 (B) REAL ESTATE TRANSACTIONS; AND
15 (C) PUBLIC FINANCE; AND
16 (II) AT LEAST ONE MEMBER WHICH MEETS ONE OF THE FOLLOWING
17 CRITERIA:
18 (A) BE THE DIRECTOR OF A LOCAL HOUSING AUTHORITY;
19 (B) BE AN ELECTED COUNTY COMMISSIONER FROM A COUNTY IN
20 THE STATE; AND
21 (C) BE A REPRESENTATIVE FROM A NONPROFIT ORGANIZATION
22 THAT HAS EXPERIENCE DEVELOPING MIDDLE-INCOME HOUSING.
23 (d) IN ADDITION TO THE APPOINTMENTS SET FORTH IN SUBSECTION
24 (2)(c)(I) OF THIS SECTION, THE GOVERNOR SHALL APPOINT TO THE BOARD:
25 (I) THE DIRECTOR OF THE OFFICE OF ECONOMIC DEVELOPMENT
26 ESTABLISHED IN SECTION 24-48.5-101 (1), OR THE DIRECTOR'S DESIGNEE;
27 AND
28 (II) THE DIRECTOR OF THE DIVISION OF HOUSING ESTABLISHED IN
29 SECTION 24-32-704, OR THE DIRECTOR'S DESIGNEE.
30 (e) IN ADDITION TO THE REQUIREMENTS OF THIS SUBSECTION (2)
31 OF THIS SECTION, WHEN MAKING APPOINTMENTS TO THE BOARD,
32 REASONABLE EFFORTS MUST BE MADE TO APPOINT MEMBERS THAT
33 REFLECT THE GEOGRAPHIC AND DEMOGRAPHIC DIVERSITY OF THE ENTIRE
34 STATE.
35 (f) (I) EACH MEMBER IS APPOINTED FOR A TERM OF FOUR YEARS;
36 EXCEPT THAT THE TERMS SHALL BE STAGGERED SO THAT NO MORE THAN
37 FIVE MEMBERS' TERMS EXPIRE IN THE SAME YEAR.".
38
39 Page 8, strike lines 1 through 5 and substitute:
40 "(f) (II) NOTWITHSTANDING THE REQUIREMENTS OF SUBSECTION
41 (2)(f)(I) OF THIS SECTION, THE FIRST APPOINTED MEMBERS SHALL SERVE
42 INITIAL TERMS OF TWO-YEARS FOR FOUR MEMBERS, THREE-YEARS FOR
43 ANOTHER FOUR MEMBERS, AND FOUR-YEARS FOR THE REMAINING FIVE
44 MEMBERS. THIS SUBSECTION (2)(f)(II) IS REPEALED ON JULY 1, 2028.".
45
46 Reletter succeeding paragraph accordingly.
47
48 Page 8, strike lines 14 and 15 and substitute "BY THE GOVERNOR FOR
49 MISCONDUCT, INCOMPETENCE, NEGLECT OF DUTY, OR OTHER CAUSE.".
50
51 Page 8, strike lines 16 through 18 and insert:
52
53
1 "(3) THE GOVERNOR SHALL MAKE INITIAL APPOINTMENTS OF
2 BOARD MEMBERS IN ACCORDANCE WITH SUBSECTION (2)(b) OF THIS
3 SECTION ON OR BEFORE SEPTEMBER 1, 2022, AND SHALL APPOINT ONE OF
4 THE MEMBERS TO SERVE AS THE INITIAL CHAIRPERSON. THE INITIAL
5 CHAIRPERSON HAS THE AUTHORITY TO ESTABLISH AND ADMINISTER
6 MATTERS RELATED TO THE INITIAL SET UP OF THE AUTHORITY, INCLUDING
7 STAFFING, LEGAL SERVICES, OR TO COORDINATE WITH THE OFFICE OF
8 ECONOMIC DEVELOPMENT, CREATED IN SECTION 24-48.5-101 (1), OR THE
9 DEPARTMENT OF LOCAL AFFAIRS, CREATED IN SECTION 24-1-125 (1), ON
10 ADMINISTRATIVE MATTERS AND OTHER MATTERS RELATED TO THE INITIAL
11 SET UP AND OPERATION OF THE AUTHORITY, WHICH CONTRACTS SHALL BE
12 FOR A TERM OF NO LONGER THAN ONE YEAR FROM SEPTEMBER 1, 2022,
13 AND SHALL BE RATIFIED BY THE BOARD AT ITS INITIAL MEETING SET FORTH
14 IN SUBSECTION (4)(a) OF THIS SECTION. THE AUTHORITY MAY HIRE STAFF
11 15 AS IT DEEMS NECESSARY OR CONVENIENT TO ADMINISTER THIS PART
16 AND THE OFFICE OF ECONOMIC DEVELOPMENT OR THE DEPARTMENT OF
17 LOCAL AFFAIRS MAY ASSIST THE AUTHORITY WITH ADMINISTERING THIS
18 PART 11. THE AUTHORITY MAY COOPERATE AND ENTER INTO CONTRACTS
19 WITH THE OFFICE OF ECONOMIC DEVELOPMENT OR THE DEPARTMENT OF
20 LOCAL AFFAIRS, OR WITH ANOTHER AGENCY OR ENTITY, FOR
21 ADMINISTRATIVE OR OPERATIONS MATTERS, INCLUDING FOR STAFFING.
22 THE AUTHORITY SHALL PAY THE OFFICE OF ECONOMIC DEVELOPMENT, THE
23 DEPARTMENT OF LOCAL GOVERNMENT, OR ANOTHER AGENCY OR ENTITY
24 THAT THE AUTHORITY HAS ENTERED INTO A CONTRACT WITH FOR ALL
25 COSTS INCURRED FOR SERVICES, STAFFING, AND ADMINISTRATIVE COSTS
26 THAT ARE APPROVED BY THE INITIAL CHAIRPERSON AND RATIFIED BY THE
27 BOARD OR THAT ARE APPROVED BY THE AUTHORITY.
28 (4) (a) WITHIN THIRTY DAYS OF THE GOVERNOR'S INITIAL
29 APPOINTMENTS PURSUANT TO SUBSECTIONS(2) AND (3) OF THIS SECTION,
30 THE INITIAL CHAIRPERSON OF THE BOARD AS DESIGNATED BY THE
31 GOVERNOR SHALL SET DATES FOR THE FIRST AND SECOND BOARD
32 MEETINGS WHICH MUST BE HELD BEFORE DECEMBER 31, 2022. THE BOARD
33 MAY ELECT A NEW CHAIRPERSON PURSUANT TO SECTION 29-4-1105 (1)(n)
34 AT EITHER INITIAL MEETING. SUBSEQUENT MEETINGS SHALL BE SET BY THE
35 CHAIRPERSON OF THE BOARD.".
36
37 Renumber succeeding subsections accordingly.
38
39 Page 9, strike line 24 and substitute "ANY CONTRACT, TRANSACTION, OR
40 PROPOSAL WITH THE AUTHORITY OR ANY INTEREST, DIRECT OR INDIRECT,
41 IN A NONPROFIT OR FOR-PROFIT ORGANIZATION SUBMITTING A PROPOSAL
42 TO THE AUTHORITY SHALL DISCLOSE".
43
44 Page 11, after line 22 insert:
45
46 "(c) IF THE AUTHORITY DESIRES TO VOLUNTARILY SELL AN
47 AFFORDABLE RENTAL HOUSING PROJECT, IT SHALL NOTIFY ALL LOCAL
48 GOVERNMENTS IN THE AREA IN WHICH THE PROJECT IS LOCATED, BROADLY
49 ADVERTISE THE SALE, AND FAVOR BUYERS THAT AGREE TO MAINTAIN THE
50 PROJECT AS AFFORDABLE HOUSING, PROVIDED THAT THE FINANCIAL TERMS
51 OF THE PURCHASE ARE SUFFICIENT TO SATISFY ALL OF THE AUTHORITY'S
52 OBLIGATIONS WITH RESPECT TO THE PROJECT. THIS SUBSECTION (11)(c)
53 SHALL NOT APPLY TO A SALE THAT OCCURS IN CONNECTION WITH THE
54 FORECLOSURE OF A MORTGAGE OR DEED OF TRUST THAT IS PLACED ON THE
55 PROJECT AS PART OF FINANCING IN CONNECTION WITH THE PROJECT.".
1 Page 12, line 19, after "SPECIFY" insert "FOR INCOME-RESTRICTED UNITS".
2
3 Page 13, line 3, strike "50%" and substitute "FIFTY PERCENT".
4
5 Page 15, line 25, strike "11." and substitute "11; AND
6 (r) OTHER POWERS NECESSARY TO ACCOMPLISH THE AUTHORITY'S
7 SPECIFIC GOALS AS REQUIRED UNDER THIS PART 11.".
8
1104 9 Page 18, line 21, strike "29-4-1104 (11)(a)." and substitute "29-4-
10 (12)(a).".
11
12 Page 18, line 23, strike "OCTOBER 1, 2022," and substitute "APRIL 1,
13 2023,".
14
15 Page 18, line 26, strike "JANUARY 1, 2023," and substitute "JULY 1,
16 2023,".
17
18 Page 19, line 7, strike "ENTITIES" and substitute "ENTITIES.".
19
20 Page 19, strike lines 8 and 9 and substitute "WHEN THE AUTHORITY HAS
21 DETERMINED IT HAS".
22
23 Page 20, line 25, strike "PROVIDES" and substitute "PROVIDE".
24
25 Page 20, line 27, strike "HAS" and substitute "HAVE".
26
27 Page 21, line 5, strike "TARGETS" and substitute "TARGET".
28
29 Page 21, line 15, strike "PROMOTES" and substitute "PROMOTE".
30
31 Page 21, lines 12 and 13 strike "INCOME, AS SPECIFIED IN SUBSECTION
32 (1)(c)(I) OF THIS SECTION," and substitute "INCOME FOR MIDDLE-INCOME
33 INDIVIDUALS AND FAMILIES AS SET FORTH IN SECTION 29-4-1103 (7).".
34
35 Page 21, line 18, strike "OR BELOW".
36
37 Page 22, line 13, strike "PROJECT," and substitute "PROJECT USING INITIAL
38 RESTRICTED RENTS AND WITH NO UPWARD TRENDING OF RENTS,".
39
40 Page 22, line 18, strike "AVAILABLE." and substitute "AVAILABLE;".
41
42 Page 22, after line 18 insert:
43
44 "(III) INCLUDE AN ESTIMATE OF THE RENT SAVINGS TO
45 INCOME-RESTRICTED TENANTS, AN ESTIMATE OF THE TAX SAVINGS
46 RESULTING FROM THE AFFORDABLE RENTAL HOUSING PROJECT'S
47 EXEMPTION FROM STATE AND LOCAL TAXES, A COMPARISON OF THE
48 ESTIMATED RENT SAVINGS AND ESTIMATED TAX SAVINGS, AND A
49 DESCRIPTION OF HOW THE TAX SAVINGS WILL BE USED TO PRODUCE RENT
50 SAVINGS OR OTHER BENEFITS TO INCOME-RESTRICTED TENANTS;".
51
52 Renumber succeeding subparagraphs accordingly.
53
54 Page 23, strike lines 13 through 15 and substitute "UNIQUE ECONOMIC
55 AND HOUSING COST ATTRIBUTES IN THE LOCAL".
1 Page 24, strike lines 14 through 25 and substitute:
2
3 "(b) (I) THE AUTHORITY MUST PROVIDE AND DELIVER WRITTEN
4 NOTICE OF A PROPOSED AFFORDABLE RENTAL HOUSING PROJECT TO THE
5 COUNTY AND MUNICIPALITY WHERE THE PROJECT IS PROPOSED TO BE
6 LOCATED WITHIN FOURTEEN DAYS OF THE AUTHORITY RECEIVING A
7 PROJECT PROPOSAL. THE COUNTY OR MUNICIPALITY MAY OBJECT TO A
8 PROJECT IN ACCORDANCE WITH THIS SUBSECTION (4)(b) AT ANY TIME
9 WITHIN NINETY DAYS AFTER RECEIPT OF THE NOTICE. THE AUTHORITY
10 SHALL NOT SELECT A PROPOSED AFFORDABLE RENTAL HOUSING PROJECT
11 IF THE COUNTY OR MUNICIPALITY IN WHICH THE PROJECT IS TO BE
12 LOCATED OBJECTS TO THE PROJECT IN ACCORDANCE WITH THIS
13 SUBSECTION (4)(b).
14 (II) EACH COUNTY AND MUNICIPALITY IN WHICH A PROPOSED
15 AFFORDABLE RENTAL HOUSING PROJECT WILL BE LOCATED MUST SOLICIT
16 FEEDBACK FROM OTHER LOCAL GOVERNMENTAL JURISDICTIONS IN THE
17 AREA IN WHICH THE PROJECT WILL BE LOCATED TO DETERMINE THE
18 IMPACT OF THE PROPOSED AFFORDABLE RENTAL HOUSING PROJECT ON THE
19 OTHER LOCAL GOVERNMENTAL JURISDICTIONS.
20 (III) DURING THE NINETY DAY NOTICE PERIOD PURSUANT TO
21 SUBSECTION (4)(b)(I) OF THIS SECTION, THE AUTHORITY SHALL USE BEST
22 EFFORTS TO WORK IN COOPERATION WITH OVERLAPPING LOCAL
23 GOVERNMENTAL ENTITIES FOR ANY PROPOSED AFFORDABLE RENTAL
24 HOUSING PROJECT. IF AFTER NEGOTIATIONS, A COUNTY OR A
25 MUNICIPALITY, OR BOTH, WITHIN WHICH BOUNDARIES A PROPOSED
26 AFFORDABLE RENTAL HOUSING PROJECT WILL BE LOCATED AND THAT HAS
27 OPTED INTO THE PILOT PROGRAM SET FORTH IN SUBSECTION (1)(a) OF THIS
28 SECTION, PROVIDES WRITTEN NOTICE TO THE AUTHORITY THAT THE
29 PROPOSED AFFORDABLE RENTAL HOUSING PROJECT IS NOT FEASIBLE AS
30 PROPOSED, WITH THE REASONS WHY THE PROJECT IS NOT FEASIBLE, THE
31 AUTHORITY SHALL NOT SELECT THE PROPOSED AFFORDABLE RENTAL
32 HOUSING PROJECT OR SHALL REQUEST THAT THE PROPOSAL BE
33 RESUBMITTED FOR RECONSIDERATION BY THE AUTHORITY AND THE
34 APPLICABLE COUNTY OR MUNICIPALITY, OR BOTH, AND SHALL TAKE INTO
35 ACCOUNT FEEDBACK RECEIVED FROM THE LOCAL GOVERNMENTAL
36 ENTITIES. NOTHING IN THIS SUBSECTION (4)(b)(III) PRECLUDES A LOCAL
37 GOVERNMENT FROM OBJECTING TO A PROJECT PROPOSAL THAT IS
38 RESUBMITTED TO THE AUTHORITY. IF THE PROPOSAL IS APPROVED BY THE
39 COUNTY OR MUNICIPALITY, OR BOTH AS APPLICABLE, OR IF NO FEEDBACK
40 IS RECEIVED BY THE AUTHORITY FROM THE COUNTY OR MUNICIPALITY, OR
41 BOTH AS APPLICABLE, THEN THE AUTHORITY MAY SELECT THE
42 AFFORDABLE RENTAL HOUSING PROJECT.
43 (IV) IF A COUNTY OR MUNICIPALITY HAS NOT APPROVED OR
44 OBJECTED TO THE PROJECT WITHIN SEVENTY-FIVE DAYS OF THE DATE THE
45 AUTHORITY DELIVERS ITS FIRST NOTICE REGARDING THE PROPOSED
46 PROJECT IN ACCORDANCE WITH SUBSECTION (4)(b)(I) OF THIS SECTION,
47 THE AUTHORITY MUST DELIVER A SECOND NOTICE REMINDING THE COUNTY
48 OR MUNICIPALITY THAT ANY OBJECTIONS TO THE PROPOSED PROJECT ARE
49 DUE WITHIN NINETY DAYS AFTER RECEIPT OF THE FIRST NOTICE SENT
50 PURSUANT TO SUBSECTION (4)(b)(I) OF THIS SECTION.
51 (V) A COUNTY OR MUNICIPALITY MAY APPROVE A PROPOSED
52 AFFORDABLE RENTAL HOUSING PROJECT AT ANY TIME, WHICH APPROVAL
53 ENDS THE NINETY DAY OBJECTION PERIOD SET FORTH IN THIS SUBSECTION
54 (4)(b). THE AUTHORITY MAY OFFER INCENTIVES TO OBTAIN SUCH
55 APPROVAL.".
1 Page 25, line 13, strike "THE" and substitute "NOTWITHSTANDING THE
2 PROVISIONS OF THIS SUBSECTION (6),".
3
4 Page 26, line 9, strike "RENTAL" and substitute "INCOME-RESTRICTED
5 RENTAL".
6
7 Page 26, line 21, after "AUTHORITY" insert "FOR INCOME-RESTRICTED
8 UNITS".
9
10 Page 33, line 21, strike "SIX" and substitute "ONE".
11
12 Page 35, line 11, strike "AFFORDABLE" and substitute "ANY TYPE OF".
13
14 Page 35, line 14, strike "$6,000,000" and substitute "$1,000,000".
15
16
House Journal, May 10
1 Amendment No. 1, Appropriations Report, dated May 10, 2022, and
2 placed in member’s bill file; Report also printed in House Journal,
3 May 10, 2022.
4
5 Amendment No. 2, by Representative Herod.
6
7 Amend the Appropriations Committee Report, dated May 10, 2022, page
8 1, strike lines 1 through 4 and substitute:
9
10 "Amend reengrossed bill, page 6, strike line 27.".
11
12 Page 3, line 4, strike "GOVERNMENT," and substitute "AFFAIRS,".
13
14 Page 3, lines 24 and 25, strike "ALL LOCAL GOVERNMENTS" and substitute
15 "IN WRITING RELEVANT PUBLIC ENTITIES, INCLUDING STATE AGENCIES,
16 LOCAL GOVERNMENTS, AND PUBLIC HOUSING AUTHORITIES".
17
18 Page 3, line 25, strike "LOCATED," and substitute "LOCATED. NOTICE
19 MUST INCLUDE A DESCRIPTION OF THE PROPERTY TO BE SOLD. NOTIFIED
20 PUBLIC ENTITIES HAVE NINETY DAYS AFTER THE DATE OF NOTICE TO
21 SUBMIT A PROPOSED PURCHASE AND SALE AGREEMENT, AND OBTAIN
22 BINDING COMMITMENT FOR ANY NECESSARY FINANCING OR GUARANTEES.
23 AFTER THE NINETY-DAY PERIOD HAS ELAPSED, THE AUTHORITY MAY".
24
25 Page 3, line 29, strike "PROJECT. THIS SUBSECTION (11)(c)" and substitute
26 "PROJECT.".
27
28 Page 3, strike lines 30 through 32.
29
30 Page 4, strike line 14.
31
32 Page 4, line 17, strike "(7)."." and substitute "(7)".".
33
34 Page 4, after line 17 insert:
35
36 "Page 21 of the bill, line 15, strike "PROMOTES" and substitute
37 "PROMOTE".".
38
39 Page 6 of the report, line 21, strike "(6),"." and substitute "(6), THE".".
40
41 Amendment No. 3, by Representative Pelton.
42
43 Amend the Appropriations Committee Report, dated May 10, 2022, page
44 1, line 17, after "A" insert "RURAL".
45
46 Amendment No. 4, by Representative Herod.
47
48 Amend reengrossed bill, page 6, line 6, after "PART 11," insert "UNLESS
49 AS OTHERWISE PROVIDED UNDER SECTION 29-4-1107 (2)(c),".
50
51 Page 6, line 15, strike "LOCATED, AS" and substitute "LOCATED.".
52
53 Page 6, strike lines 16 and 17.
54
55 Page 13, line 1, strike "AND".
1 Page 13, line 5, strike "THEREAFTER." and substitute "THEREAFTER;
2 (VIII) THE AMOUNT OF MIDDLE-INCOME RENTAL SAVINGS
3 ACCRUED TO THE LOCAL COMMUNITY FROM THE DEVELOPMENT;
4 (IX) THE AMOUNT OF TAX EXEMPTIONS ACCRUED; AND
5 (X) THE RENTS CHARGED AND OCCUPANCY RATES OF NONINCOME
6 RESTRICTED UNITS OF HOUSING.".
7
8 Page 17, line 27, strike "TO" and substitute "IN ORDER TO ISOLATE
9 OPERATING RISK ON A PROJECT-BY-PROJECT BASIS, TO".
10
11 Page 18, lines 1 and 2, strike "TO CARRY OUT ANY OF THE AUTHORITY'S
12 ACTIVITIES," and substitute "ON A PER-PROJECT BASIS FOR THE DURATION
13 OF THE AFFORDABLE RENTAL HOUSING PROJECT UNLESS THE CONTROLLED
14 ENTITY MUST OVERSEE MORE THAN ONE AFFORDABLE RENTAL HOUSING
15 PROJECT AS DEMONSTRATED BY AN APPLICANT FOR FUNDING TO THE
16 AUTHORITY,".
17
18 Page 18, line 7, after "OF" insert "OR AGENT TO OVERSEE".
19
20 Page 18, line 9, after "BODY" insert "OR AGENT".
21
22 Page 19, line 7, strike "PROPOSED".
23
24 Page 26, line 24, strike "DEVELOPMENT." and substitute "DEVELOPMENT
25 OR PUBLISHED BY THE COLORADO DIVISION OF HOUSING OR OTHER
26 STATEWIDE AUTHORITY ON HOUSING.".
27
28 As amended, ordered revised and placed on the Calendar for Third
29 Reading and Final Passage.
30
House Journal, May 11
22 Amend revised bill, page 6, line 6, strike "UNLESS AS OTHERWISE
23 PROVIDED UNDER" and substitute "EXCEPT AS MODIFIED IN EXCEPTIONAL
24 CIRCUMSTANCES BY THE BOARD PURSUANT TO".
25
26 Page 8, strike line 7 and substitute "FIVE MEMBERS, AND FOUR-YEARS FOR
27 THE REMAINING FIVE".
28
29 Page 24, line 20, strike "RENTS," and substitute "RENTS, EXCEPT AS
30 OTHERWISE ALLOWED UNDER THIS PART 11,".
31
32 The amendment was declared passed by the following roll call vote:
33
34 YES 45 NO 20 EXCUSED 0 ABSENT
35 Amabile Y Exum Y Lynch N Sirota Y
36 Bacon Y Froelich Y McCluskie Y Snyder Y
37 Baisley N Geitner N McCormick Y Soper Y
38 Benavidez Y Gonzales-Gutierrez Y McKean N Sullivan Y
39 Bernett Y Gray Y McLachlan Y Tipper Y
40 Bird Y Hanks N Michaelson Jenet Y Titone Y
41 Bockenfeld N Herod Y Mullica Y Valdez A. Y
42 Boesenecker Y Holtorf N Neville N Valdez D. Y
43 Bradfield N Hooton Y Ortiz Y Van Beber N
44 Caraveo Y Jodeh Y Pelton N Van Winkle N
45 Carver N Kennedy Y Pico N Weissman Y
46 Catlin Y Kipp Y Ransom N Will N
47 Cutter Y Larson Y Rich Y Williams N
48 Daugherty Y Lindsay Y Ricks Y Woodrow Y
49 Duran Y Lontine Y Roberts Y Woog N
50 Esgar Y Luck N Sandridge N Young Y
51 Speaker Y
52
53 The question being, "Shall the bill, as amended, pass?".
54
1 A roll call vote was taken. As shown by the following recorded vote, a
2 majority of those elected to the House voted in the affirmative, and the
3 bill, as amended, was declared passed.
4
5 YES 43 NO 22 EXCUSED 0 ABSENT
6 Amabile Y Exum Y Lynch N Sirota Y
7 Bacon Y Froelich Y McCluskie Y Snyder Y
8 Baisley N Geitner N McCormick Y Soper Y
9 Benavidez Y Gonzales-Gutierrez Y McKean N Sullivan Y
10 Bernett Y Gray Y McLachlan Y Tipper Y
11 Bird Y Hanks N Michaelson Jenet Y Titone Y
12 Bockenfeld N Herod Y Mullica Y Valdez A. Y
13 Boesenecker Y Holtorf N Neville N Valdez D. Y
14 Bradfield N Hooton Y Ortiz Y Van Beber N
15 Caraveo Y Jodeh Y Pelton N Van Winkle N
16 Carver N Kennedy Y Pico N Weissman N
17 Catlin Y Kipp Y Ransom N Will N
18 Cutter Y Larson Y Rich N Williams N
19 Daugherty Y Lindsay Y Ricks Y Woodrow Y
20 Duran Y Lontine Y Roberts Y Woog N
21 Esgar Y Luck N Sandridge N Young Y
22 Speaker Y
23 Co-sponsor(s) added: Representative(s) Bacon, Bird, Esgar, Exum, Froelich,
24 Hooton, Lindsay, Michaelson Jenet, Ricks, Roberts
25