Berthoud Habitat gets $290,000 for 12 affordable homes
The proposed homes would serve buyers earning 40% to 80% of area median income. The award requires milestones including proper zoning, completed development plans, funding and permits.
The Colorado Office of Economic Development and International Trade (OEDIT) announced a $290,000 Land Banking award to Berthoud Habitat for Humanity for 12 proposed homes serving buyers at 40% to 80% of area median income.
Gov. Jared Polis, OEDIT and the Colorado Housing and Finance Authority announced 18 recipients of voter-approved Proposition 123 Land Banking funds. Funding is estimated to support 1,455 units on 18 parcels across Colorado, from the Front Range to the Western Slope, OEDIT said. OEDIT said a total of $32.66 million will be awarded to secure the parcels. “These funds will create 1,455 homes people can afford in communities across our state,” Polis said.
OEDIT said Land Banking funds support Colorado communities as they acquire land for affordable rental and homeownership housing. Over the coming years, awardees will be required to meet statutory milestones, including proper zoning, finalizing development plans and securing development funding and permits, the office said.