Section 29-4-717 - Findings - percentage of low-income families required(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.Amended by 2021 Ch. 156,§44, eff. 9/7/2021.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. 897, p. 897, § 44, effective September 7.This section was originally numbered as §29-4-713 in C.R.S. 1973 but was renumbered on revision in the 1977 replacement volume for ease of location.
2021 Ch. 156, was passed without a safety clause. See Colo. Const. art. V, § 1(3). For the legislative declaration contained in the 2008 act amending subsection (2)(a), see section 1 of chapter 341, Session Laws of Colorado 2008. For the legislative declaration in HB 21-1108, see section 1 of chapter 156, Session Laws of Colorado 2021.