Colorado Revised Statutes Title 29. Government Local § 29-4-1106. Additional powers--affordable workforce housing projects

(a) To acquire, construct, rehabilitate, own, operate, and finance affordable rental housing projects;

(b) To consult with a qualified nonprofit organization, county, municipality, housing authority, school district, or other relevant entity as determined by the authority to identify gaps in affordable housing capacity, disproportionately impacted communities, or other communities or localities in need of workforce housing to guide the authority in its selection of project proposals to fund;

(c) To exercise general control and supervision of affordable rental housing projects and the land they are located on and exercise plenary power to adopt all bylaws and regulations pertaining to the acquisition, financing, development, use, and operation of affordable rental housing projects in order to advance the state interest in the provision of affordable rental workforce housing pursuant to this part 11, not in conflict with the law, as the board may deem necessary to secure the successful operation of the authority and promote the purposes of this part 11;

(d) To enter into a public-private partnership;

(e) To contract with experienced real estate professionals with a proven track record in developing and operating projects of similar scale and complexity for the development and operation of affordable rental housing projects and to employ its own personnel or contract with public or private entities, or both, for other services necessary or convenient to the conduct of all of the authority's other activities. The authority shall hire full-time staff who are full-time employees of the authority and are responsible for compliance with public meeting laws and open records requests, affordable rental housing project proposal solicitation and review, and reporting.

(f) To provide housing assistance to a tenant in a rental unit of an affordable rental housing project in order for the tenant to transition to home ownership on affordable terms, provided that:

(g) In order to isolate operating risk on a project-by-project basis, to establish, or adopt a resolution approving the establishment of, one or more controlled entities on a per-project basis for the duration of the affordable rental housing project unless the controlled entity must oversee more than one affordable rental housing project as demonstrated by an applicant for funding to the authority, provided that: