0
Construction of house. There is a crane dropping materials on the roof of the house. The background of the image is of a mountain range. The setting of the house is located in the green outdoors. The image is courtesy of construction firm, Phoenix Haus.

Summary

Strong economic development includes incentivizing job creation, capital formation, and providing business support and should go hand in hand with the development of attainable housing. The Colorado Office of Economic Development and International Trade (OEDIT) helps implement a range of programs designed to create good-paying jobs while also growing the supply of affordable and attainable housing for individuals and families at all income levels.

We work in partnership with the Governor’s Office, the Division of Housing (DOH) in the Department of Local Affairs (DOLA), the Colorado Housing and Finance Authority (CHFA), the Colorado Energy Office (CEO) and other state agencies to administer and staff the following programs.

Commercial Historic Preservation Tax Credit (HPTC)

HPTC offers transferable tax credits of up to $1.5 million for the qualified restoration of historically designated commercial properties converting at least 50% of the building’s square footage to net new rental housing units.

Community Revitalization Tax Credit

This program prioritizes capital improvement projects located within creative districts, historic districts, neighborhood commercial centers, or main streets that support creative industries and working and living spaces for their workers.

Innovative Housing Incentive Program (IHIP)

IHIP helps address Colorado’s housing shortage by supporting the development and expansion of the state’s innovative housing manufacturing businesses.

Middle Income Housing Authority (MIHA)

MIHA is an independent special-purpose authority for promoting affordable rental housing projects for middle-income workforce housing.

Proposition 123

Created the Colorado Affordable Housing Financing Fund to support affordable housing with funding for Land Banking, Concessionary Debt and Equity investments.

Additional Housing Resources