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Proposition 1‑23 provided millions to Boulder programs; board hears details on mobile‑home rehab and acquisitions
Summary
Holly told the board the city secured Prop 1‑23 funding including $2.8M for mobile‑home rehab/replacement and $2.1M for a regional scattered‑site acquisition program; she also said the region has received roughly $30M total from Prop 1‑23 to date and noted distribution questions.
Holly reported that Proposition 1‑23 funds are already flowing into the region and provided local award details. She said the Partnership has tracked roughly $30,000,000 to the region since Prop 1‑23 passed and that the city received approximately $2,800,000 to establish a mobile‑home rehabilitation and replacement program and $2,100,000 to support the regional scattered‑site acquisition program (an acquisition pipeline of up to 29 homes).
Holly also noted a recurring state subsidy of about $70,000 per acquired home that the Partnership can use to make acquisitions affordable, and she raised concerns voiced in the meeting that the state’s equity program is difficult for smaller or nonprofit developers to navigate. Board members asked staff to provide breakdowns of where Prop 1‑23 funds were awarded in the region and how application competitiveness affected award decisions.
