Preserve, protect, revitalize, and maintain the quality and attainability of the community's existing housing stock. In summary, this goal aims to achieve the following.
Increase the amount of housing produced in Cortez and encourage a diverse mix of housing types to improve housing availability and options for residents to best meet their needs.
Focus new housing on the full range of incomes in need and for various life stages with priority placed on entry level rentals, first-time homeownership, missing middle, and supportive housing.
How will the City of Cortez achieve it's goals?
Education & Outreach
Housing Rehabilitation & Weatherization
Vacant Land Inventory
Attract Funds from Outside Cortez
Targeting Developer Engagement
Density & Use by Right
Common Housing Words & Acronyms
Word or Acronym
Definition & Description
"Area Median Income" refers to the median (middle) income of a county. It is a common unit of measurement when discussion affordable housing. AMI is published annually by the Department for Housing & Urban Development.
The area median income for Montezuma County can be found on page 20 of the Housing Action Plan.
Affordable Housing can mean a lot of different thing. In many Colorado state initiatives an "affordable" house for purchase is at or under 30% of the annual income for a person at 100% AMI. An affordable house for rent would mean 30% of the annual income, divided by 12 months, for a person at or below 60% AMI.
In Cortez, these data points can be interpreted as a house for sale being below $220,000 or $1,000 for rent.
Attainable Housing Workforce Housing
These are both buzz-words that housing advocates use to describe "affordable housing." Sometimes, affordable housing can be equated with low-income housing. While this is an important feature of affordable housing policy, words like "workforce" or "attainable" reinforce the fact that affordable housing policy also concerns the "missing-middle" and housing for ALL residents.