Getting your player ready...
The Colorado Housing Investment Fund Coalition is gathering signatures for an amendment that would create a state housing investment fund.
A constitutional amendment is needed because of the Taxpayer’s Bill of Rights, which limits tax increases to individuals and prohibits new or increased transfer taxes. Initiative 103 calls for a 4-cent real- estate transfer tax on every $100 of value on the price of a house to fund affordable housing. The group wants to get the initiative on the November ballot.
A $26.5 million investment fund would create 3,400 affordable housing opportunities, 3,200 jobs, generate $334 million in economic activity and $26 million in tax revenue annually, according to the Colorado Housing Trust Fund Impacts Report.
