It’s no secret that Colorado has a housing crisis. According to the state demographer, Colorado needs 175,000 more housing units to restore its historic population-to-housing ratio. This shortage is creating a supply-and-demand issue which exacerbates Colorado’s affordability challenge, resulting in average home prices in places like Denver at $684,700.
Creating more attainable housing is complex, but utilizing local governments like metro districts is one way to keep the costs down. Through transparent, public processes, cities and counties work with landowners to determine what infrastructure is needed within a community and the associated costs. Local governments then put safeguards in place through an approved service plan. Development is required to pay its own way by taking on the up-front financial burden that cities and counties cannot bear and spreading those costs over time to the residents within the community.
Metro districts are a critical tool for addressing the attainable housing challenge. Lately, however, a lot of ink has been dedicated to cast doubt on their efficacy. And rarely are all facts presented so readers can make informed decisions. Sadly, that is the case with a recent article about a local metro district. Without getting into the details of any specific district, it is important that readers understand the facts and laws that protect residents from these types of stories.