ESTES PARK — Gov. Jared Polis, the Business and Funding Incentives division of the Colorado Office of Economic Development and International Trade and the Colorado Housing and Finance Authority announced a program offering cash back and equity benefits to renters living in properties financed through the Proposition 123 Equity program.
In Brief:
- Colorado launches Prop 123 Renter Rewards cash back and equity program
- Program rewards renters for on-time payments in eligible housing properties
- Fall River Village in Estes Park is first development to join initiative
- Program aims to help renters build savings and long-term financial stability
The Colorado Renter Rewards program allows eligible renters to earn cash back for on-time rent payments and receive equity distributions tied to property performance over time. Officials said the program is the first statewide tenant equity initiative in the country.
“By helping renters save the money needed to make a down payment on a home, more Colorado families will be able to build wealth and security,” Polis said. “Home ownership is a major pathway to financial security, and now more Coloradans will be able to realize the dream of owning a home. The Proposition 123 Colorado Renter Rewards initiative is the first statewide tenant equity strategy in the nation, helping create more opportunities for Coloradans to live close to jobs, schools and in the communities we love while saving money and helping renters build equity.”…