The Town of Silverton, in a noteworthy stride for affordable housing, has earned the distinction of being the first local government in Colorado to fully meet its Proposition 123 commitment, a whole year in advance of the deadline. This achievement has been highlighted by the Colorado Department of Local Affairs (DOLA), showcasing Silverton's use of a myriad of housing programs and formidable local partnerships that have fostered not only affordable homeownership but also expedited permitting processes, according to the Colorado Governor's Office.
Under the fast track requirement, which came with an incentive of up to $50,000 for early adoption, DOLA has acknowledged that 91 local governments have met the fast track requirements by December 31, 2025. Meanwhile, 55 jurisdictions are awaiting incentive awards, which should be doled out by June 30, and at least 34 other jurisdictions are expected to adopt the fast track process by the same date.
Silverton, a town with roughly 724 inhabitants, notched up 10 affordable housing units to its name while streamlining the approval process for certain affordable housing projects. As outlined by the original article, these efforts merited an additional reward, $50,000 of Proposition 123 funding to fuel future housing endeavors.
The success of Silverton can be largely attributed to its hiring of a Director of Housing, backed by a Local Planning Capacity (LPC) grant from DOLA's Division of Local Government. This pivotal move galvanized the pre-development phase, acquisition of funds, and rallying of crucial alliances. Governor Polis lauded the town's accomplishment, stating, "This is a major milestone for Silverton that will help expand opportunities for residents to become homeowners, and increase the housing supply in rural Colorado," as per the Colorado Governor's Office. Meanwhile, Mayor Dayna Kranker expressed gratitude for the continuous support from the state.
