{"id":24211,"date":"2024-12-30T09:46:14","date_gmt":"2024-12-30T16:46:14","guid":{"rendered":"https:\/\/dh.durangoherald.com\/tj\/new-prop-123-money-benefits-montezuma-county\/"},"modified":"2026-03-31T04:50:09","modified_gmt":"2026-03-31T04:50:09","slug":"new-prop-123-money-benefits-montezuma-county","status":"publish","type":"post","link":"https:\/\/dh.durangoherald.com\/tj\/new-prop-123-money-benefits-montezuma-county\/","title":{"rendered":"New Prop 123 money benefits Montezuma County"},"content":{"rendered":"

\"Cortez
Cortez City Council meetings take place on the second and fourth Tuesday of every month at City Hall, 123 Roger Smith Ave.<\/span>Sam Green\/The Journal<\/span><\/figcaption><\/figure>\n<\/p>\n

Colorado\u2019s Department of Local Affairs recently awarded $9.5 million of Proposition 123 money to counties and towns across the state.<\/p>\n

The money came through the Division of Housing\u2019s State Housing Board \u201cto rehabilitate homes and provide homeownership opportunities for Coloradans,\u201d according to a news release.<\/p>\n

And so the $3.545 million awarded to the HomesFund<\/a> that will be shared among Montezuma, La Plata, Dolores, San Juan and Archuleta counties will drive at that goal.<\/p>\n

Which makes sense, as rehabilitating homes and providing homeownership opportunities aligns with Prop 123<\/a> itself, which passed in 2022 and created the Colorado Affordable Housing Fund to support such projects.<\/p>\n

The news release explained the HomesFund and said it\u2019ll \u201ccontinue to offer Mortgage\/Down Payment Assistance Loans for households with incomes at 120% AMI or below.\u201d<\/p>\n

AMI, or area median income, varies by household size.<\/p>\n

In Montezuma County, 120% of AMI for one person means $69,120; for two, $78,960; for three, $88,800, and so on, according to the city of Cortez\u2019s website<\/a>.<\/p>\n

Those income levels are at the higher end of the homeownership support money, and 120% represents the high end of the \u201cmiddle income\u201d class on that same website.<\/p>\n

Since the newest round of Prop 123 money \u2013 $3.545 million \u2013 coming into the area will be split between five counties of different AMI\u2019s, the 42 total homes it\u2019s projected to \u201cfacilitate homeownership\u201d for in the next two years will impact counties differently, the release said.<\/p>\n

Seventeen of the 42 will be secured in the \u201crural resort communities\u201d of La Plata, Archuleta and San Juan counties, and the remaining 25 households will benefit prospective homeowners in the \u201crural communities\u201d of Montezuma and Dolores counties, the news release said.<\/p>\n

The money helps this jurisdiction \u2013 made up of Cortez, Mancos, Dolores, Montezuma County and the Ute Mountain Ute Tribe \u2013 meet its baseline requirement of \u201cincreasing the stock of affordable units by 3% each year for three consecutive years,\u201d which was a requirement when it first opted into Prop 123 in 2023, according to the city of Cortez\u2019s website<\/a>.<\/p>\n

To meet such requirements over those three years, then, the affordable housing \u201cstock\u201d in Cortez is supposed to increase by 89 units. In Mancos, 14; Dolores, 26; Montezuma County, 28; and the Ute Mountain Ute Tribe, 5.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s one of five counties in Southwest Colorado that will divvy up the award<\/p>\n","protected":false},"author":1,"featured_media":24212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[21,44,28,475,83,60,29],"naviga_topic":[],"class_list":["post-24211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-cortez","tag-dolores","tag-headlines","tag-la-plata-county-colorado","tag-mancos","tag-montezuma-county","tag-newsletter"],"acf":[],"author_name":"dh_admin","_links":{"self":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/24211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/comments?post=24211"}],"version-history":[{"count":1,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/24211\/revisions"}],"predecessor-version":[{"id":78442,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/24211\/revisions\/78442"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media\/24212"}],"wp:attachment":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media?parent=24211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/categories?post=24211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/tags?post=24211"},{"taxonomy":"naviga_topic","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/naviga_topic?post=24211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}