Affordable housing orgs say Coloradans will need at least $291 million in rent and mortgage assistance this year

Affordable housing orgs say Coloradans will need at least $291 million in rent and mortgage assistance this year

The COVID-19 pandemic is compounding the state’s existing affordable housing crisis

A coalition of Colorado affordable-housing organizations with an up-close view of the desperate situation some low-income families are facing has an emergency plan that it believes could help stave off a potential mass eviction and foreclosure crisis if state and local leaders can find the money for it.

It’s a plan that comes with a more than $291 million price tag and a ticking clock. Gov. Jared Polis’ moratorium on foreclosures and evictions expires May 31.

“With many households receiving insufficient income or federal assistance to cover current bills and pay for a large housing bill at the end of the month, thousands may be in danger of being evicted just as we as a state begin the recovery process,” reads the letter, sent by the 15-member Neighborhood Development Collaborative to Polis and other state officials earlier this month.

Read more here.