Colorado: A Year Ahead of Schedule, the Town of Silverton is the First Jurisdiction to Fulfill its Proposition 123 Commitment

STATEWIDE – The Colorado Department of Local Affairs (DOLA) announced that the Town of Silverton is the first local government to fully meet its Proposition 123 commitment. Silverton met this milestone through a coordinated approach that leveraged multiple housing programs and strong local partnerships to advance affordable homeownership while also working to implement a fast track permit or expedited review process. The deadline for local governments to fulfill their commitments is December 31, 2026.

While Silverton is leading the way, local governments statewide are achieving their own Proposition 123 successes. Many communities have been motivated to adopt the Prop 123 fast track requirement one year before the statutory deadline, after DOLA announced that incentive funding of up to $50,000 if the process was in place and verified by the end of 2025. DOLA has so far verified 91 local governments that met the fast track requirements by December 31, 2025 (55 jurisdictions have incentive awards pending, to be awarded by June 30, 2026). DOLA is tracking at least 34 jurisdictions that we expect to achieve early adoption of fast track by June 30, 2026 that will also qualify for incentive funding.

To meet its Proposition 123 commitment, Silverton, a town with an estimated population of 724 people, added 10 affordable housing units and implemented an expedited review process for qualifying affordable housing developments through amendments to their land use code to provide clearer and faster approval pathways. Silverton was just awarded an additional $50,000 of Prop 123 funding that will support future housing efforts.

Silverton's success serves as a roadmap for how communities can navigate the entire housing development lifecycle. The town utilized a Local Planning Capacity (LPC) grant through DOLA's Division of Local Government to hire a dedicated Director of Housing. This critical early investment provided the leadership needed to manage pre-development work, pursue funding, and forge key partnerships. As projects moved from blueprints to building sites, the Division of Housing (DOH) stepped in with vital construction funding and down payment assistance, ensuring that new houses weren't just built, but were affordable for current and future residents of Silverton.

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"In Colorado we invest in our communities' success. 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. We are continuing to break down barriers to housing in every corner of our state, and I look forward to seeing what is next for Silverton," said Governor Polis.

"It goes without saying that Proposition 123 is a gamechanger when it comes to affordable housing in our state. We have the possibility of adding almost 23,000 affordable homes across Colorado thanks to this funding," said Maria De Cambra, Executive Director of the Colorado Department of Local Affairs. "This is why we've been working so closely with local governments and incentivized early adoption of the fast track requirements to speed up the results that Coloradans can see. With each additional affordable home built, we move closer to our ultimate goal of a home that every Coloradan can afford."

"We are grateful for the State's unwavering support over the past couple of years," said Mayor Dayna Kranker. "Without this funding, and the support of DOLA Staff, we would not be celebrating this achievement today!"

Housing Coordinator, Anne Chase, shared, "For Silverton, 10 new affordable homes represent real progress toward housing stability and community sustainability. We are grateful for DOLA's investment in rural communities like Silverton, and look forward to building on this momentum to continue on our state and local housing goals in the years ahead."

Project Highlights: Silverton

• Anvil Townhomes, a mixed-income townhome development led by the Silverton Housing Authority and constructed by Fading West using modular manufacturing construction. The project received Proposition 123 Affordable Homeownership (AHOP) funding through the Division of Housing and expands affordable homeownership opportunities for local workforce households through energy-efficient, resilient, and sustainably built homes.
• Newly constructed single-family home funded through the Division of Housing's Housing Development Grant (HDG), with the San Juan Development Association as the grantee and the Silverton Housing Authority responsible for buyer selection and ongoing monitoring.
• Down Payment Assistance programs provided by HomesFund, including assistance funded in part through a Proposition 123 AHOP award executed by the Division of Housing, supporting income-qualifying households and advancing long-term affordable homeownership in Silverton.
• Early adoption of Fast Track, codified in the Town's land use code qualified Silverton for $50,000 of planning capacity funding through the Division of Local Government.

Local governments can still qualify for an early adoption incentive award by adopting an effective fast track process by June 30, 2026, ahead of the statutory deadline of December 31, 2026. DOLA continues to support communities statewide with implementation guidance and technical assistance, including courtesy reviews of draft policies.

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Together, these efforts demonstrate how local governments can leverage state housing resources and community partnerships to expand affordable homeownership. To remain eligible for the next three (3) year Proposition 123 funding cycle, local governments must meet their commitment for an increase in affordable housing units and demonstrate/codify an expedited/fast track review process by December 31, 2026.

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