Election 2019: Voters favor tax increase for Boulder housing program

BOULDER — A measure that would help pay for the creation of a housing down-payment assistance program for middle-income buyers appears popular with Boulder voters.

As of 1:20 p.m., when 100,250 of the anticipated 104,000 Boulder County votes had been counted, 68.30 percent of votes cast were in favor of Boulder Ballot Issue 2I.

The measure authorizes the city to take on as much as $15 million in debt to fund a program that helps middle-income home buyers afford down payments. Middle-income buyers earn between 80 percent and 120 percent of the area median income, which is about $76,000.

The program, which has yet to be fully fleshed out or approved by council, is meant to bridge the gap for buyers who qualify for a loan amount lower than most Boulder home prices. Buyers would pay back the down payment assistance over a period of years.