Colorado § 29-4-717 Findings - percentage of low-income families required

Colorado Statutes

§ 29-4-717 — Findings - percentage of low-income families required

Colorado·Title 29 Government·Art. Housing

(1)Prior to the authority's making or committing to make a housing facility loan for a housing facility with more than five dwelling units under this part 7, the board shall find:

(a)That low-income families can afford, on the basis of the use of not more than thirty percent of annual income as determined in accordance with rules and regulations of the authority, the adjusted rentals set for no less than twenty percent of the dwelling units in such proposed housing facility;

(b)That the number of units intended for occupancy by low- and moderate-income families shall approximate seventy-five percent of the total number of units available;

(c)That such housing facility will not create or contribute to an undue concentration of low-income families in any one neighborhood.

(2)

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(1) Prior
to the authority's making or committing to make a housing facility loan for a
housing facility with more than five dwelling units under this part 7, the board shall
find:

(a) That low-income families can afford, on the basis of the use of not more
than thirty percent of annual income as determined in accordance with rules and
regulations of the authority, the adjusted rentals set for no less than twenty
percent of the dwelling units in such proposed housing facility;

(b) That the number of units intended for occupancy by low- and moderate-income families shall approximate seventy-five percent of the total number of units
available;

(c) That such housing facility will not create or contribute to an undue
concentration of low-income families in any one neighborhood.

(2) Prior to the authority's making or committing to make any housing facility
loan, the authority shall find:

(a) That, with respect to the housing facility, no restrictions are imposed as
to sex, sexual orientation, gender identity, gender expression, race, creed, color,
religion, ancestry, or national origin of occupants;

(b) That such housing facility is designed to house families of varied
economic means and will not create or contribute to an undue concentration of low-income families in any one neighborhood.

Colorado § 29-4-717 (Findings - percentage of low-income families required) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 73: p. 812, � 1. C.R.S. 1963: � 69-11-13. L. 75: Entire section R&RE, p. 978, � 10, effective April 9. L. 82: (1)(a) amended, p. 473, � 7, April 15. L. 2007: (1)(c) and (2) amended, p. 708, � 10, effective May 3. L. 2008: (2)(a) amended, p. 1603, � 33, effective May 29. L. 2021: (2)(a) amended, (HB 21-1108), ch. 156, p. 897, � 44, effective September 7.