Colorado House Bill 1195 would help Habitat, community By Scott Gilbert
place to live is extremely difficult. Itâs probably one of the hardest tasks as a single Itâs time to take action. This legislative session, Colorado lawmakers are working on parent â to find a location that is big enough, that you can afford and that is safe. In a good policy solution that will give more Coloradans the opportunity to experience the past, it was extremely hard. I juggled staying with friends and family and staying the stability of homeownership. HB1195 leverages private funds to help in places that were way too small â maybe one or two bedrooms. We had build affordable homes in Colorado, by incentivizing philanthropic contrito make it work.â butions to nonprofits building affordable for-sale homes. In Colorado, Angelâs story is not unique. The costs of housing have been This billâs tax credits would be extremely helpful to Habitat for Humanityâs partner- skyrocketing for years, while wage growth has not kept pace. The homeownership rate ship with the Roaring Fork Schools and Pitkin County, as well as the Town of Basalt, in our state is declining and the dream of owning a home remains out of reach for far to build 27 homes for teachers and other local workforce. too many essential community members like school teachHB1195 offers a powerful solution to increase afforders, first responders and healthcare workers. The challenge Current Tax HB-1195 able housing in Colorado, and now is the time to raise our extends from our cities to suburban and rural areas where Monetary Gift $10,000 $10,000 voices for individuals and families who desperately need area wages are too often not enough to make ends meet. the stability of homeownership. The result? Fewer quality housing options at prices fewFed Tax Benefit 3,700 3,700 The bill would provide a 50 percent tax credit for indier Coloradans can afford. State Tax Benefit 463 463 vidual, or corporate donations, of up to $250,000 toward When families like Angelâs achieve financial stability State tax credit ---5,000 a qualifying nonprofit developing new for-sale housing afthrough affordable homeownership, they no longer have to fordable to households earning up to 120 percent of the make tradeoffs in order to cover their housing payments. NET cost to donor 5,837 837 area median income. Tradeoffs typically include cutting back on health care or For perspective, if someone makes a charitable contribuhealthy food, or getting a second job to cover bills. tion of $10,000 to a nonprofit of their choice today, under the Homeownership provides economic stability and even mobility. current 2018 tax law, they would have a net cash cost of their Home equity is the leading asset Coloradans can leverage to start charitable contribution of $5,837. Under HB-1195, this same a business, finance a college education, or invest in other activities. charitable contribution net cash cost could be as low as only Homeownership reduces public assistance need. Homeown$837 â thanks to the $5,000 Colorado tax credit. ership boosts our economy. Habitat for Humanity homeowners, Habitat for Humanityâs Colorado affiliates are the largest contribute approximately $3.1 million statewide in property providers of affordable homeownership in the state with 2,600 taxes each year. homes built, renovated, and repaired to date. Through 40 years Communities throughout our state need the right mix of safe, of work, weâve seen the positive effects of homeownership ripple stable rental units and for-sale housing that hardworking Coloraâ Angel Meza, throughout Colorado communities. dans at all income levels can afford. HB 18-1195 is a bipartisan Habitat for Humanity client âBecause of this house, I have an amazing bright future for bill that incentivizes public, private, non-profit partnerships to myself and for my children.â â Angel Meza is sitting on the front create affordable, for-sale homes. porch of the home she bought with an affordable mortgage from Habitat for HumanContact your state lawmakers today to let them know that affordable homeownerity and reflecting on how the stability of becoming a homeowner has strengthened her ship is imperative to the future of our state. family. It was not so long ago that she was moving frequently and struggling to find an affordable place to rent. âHaving four kids and trying to find a decent, affordable Scott Gilbert is the president of Habitat for Humanity of the Roaring Fork Valley.
OPINION
âBecause of this house, I have an amazing bright future for myself and for my children.â
1 in 3 online searches happen on mobile phones. Is your listing accurate and helpful for customers? Weâll combine manual management of the top listing services (Google Maps, Yahoo! Local, Bing Maps and more) with practices to enhance listings with photos, specials, services, menus and more, to create a cost-effective and powerful local search solution.
Harmony Scott
Helping independent businesses thrive in their communities.
(970) 510-5800 | Carbondale, Colorado | footstepsmarketing.com The Sopris Sun, Carbondaleâs weekly community connector ⢠MAY 3-9, 2018 ⢠17