On July 17, Governor Jared Polis announced that housing and rental assistance due to the COVID-19 pandemic would be coming through a Property Owner Preservation (POP) Program after working with the Department of Local Affairs.
“This has been an incredibly challenging time for many Coloradans,” Polis said. “I want to thank the legislators who worked on this bill and applaud them for their efforts.
This legislation allocates almost $20 million in federal CARES Act funding to those who have been financially impacted by the pandemic. This money goes to the Housing Development Grant Fund within the DOLA housing division.
These funds will provide housing assistance to Colorado residents in need of rental or mortgage assistance and guidance on how to access other provided services.
There are thousands of households that have been unable to make rent and mortgage payments due to the economic impacts of the pandemic, said Rick Garcia, executive director of DOLA.
“The POP program will allow for landlords to apply for assistance on behalf of tenants and help with Colorado’s housing stability,” Garcia said.
Lawmakers from across the state are excited for Colorado residents to be able to pay their rent or mortgages. They encourage anyone in need of assistance to talk to their landlords or visit the Division of Housing’s website to get more information.
“Even before COVID hit, Coloradans struggled to find affordable housing. But now with so many out of work and federal assistance dwindling, people are utterly desperate for relief,” said Senator Julie Gonzales, D-Denver. “That’s why this new program is so critically important.
Coloradans can learn more about the program on the DOLA website. There, both renters and landlords can find more information about how to qualify for assistance.
“This pandemic is far from over, and we will continue working to do everything we can to help provide some relief to those who have been significantly impacted,” Polis said. “We are all in this together and we will get through this together.”
If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
