Part of a spending plan currently under review in the Colorado State Legislature would target up to $80 million for the creation of more affordable housing spaces.
More specifically, as outlined in an officially published document called Colorado Recovery Plan, the proposal is designed to “transform downtown spaces and create more sustainable affordable housing in urban areas.”
“Ensuring urban areas have adequate affordable housing options as well as safe community spaces, is critical to maintaining the vibrant diversity and longevity of our city centers,” the report asserts.
An additional $30 million is being proposed for what is called a “Revitalizing Main Street” effort that would see funding committed to infrastructure projects providing open spaces for mobility and community activities.
The two proposals in the Colorado Recovery Plan document are part of a larger $700 million that Governor Jared Polis and various state lawmakers have said is available for spending due to a surprise jump in tax revenue the state experienced in the last fiscal year.
Although the $700 million represents a spending milestone of sorts, it is still smaller than the $1.3 billion in project funding that the Governor had originally aired late last year.
By Garry Boulard
Get stories like these right to your inbox.