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Intergovernmental Agreement <br />Establishing Regional Affordable Homeownership and <br />Rental Compliance Program Services <br />This Intergovernmental Agreement ("IGA") establishing a regional affordable <br />homeownership and rental compliance program is entered into by and among the City of <br />Louisville, a Colorado home rule city, ("City of Louisville") and the City of Boulder, a Colorado <br />home rule city, ("City of Boulder"), effective this day of 2024 (the "Effective Date"). <br />RECITALS <br />A. The Parties are authorized to enter into this IGA pursuant to C.R.S. § 29-1-203; <br />and <br />B. Boulder County and areas of Weld County are in a housing crisis resulting in <br />home prices and rents that are unaffordable; and <br />C. The housing crisis is, in part, a manifestation of racial inequity, following similar <br />national trends on racial disparities for homeownership, rental opportunities, affordability, and <br />adequate housing; and <br />D. The affordable housing challenge is regional and is shared by each jurisdiction in <br />Boulder County, and a few in Weld County; and <br />E. Regional cooperation and action are needed to produce equitable solutions to the <br />challenge to produce an adequate amount of affordable housing and distribute it across the area; <br />and <br />F. Boulder County communities and residents are committed to and have made <br />strong investments in affordable housing; and <br />G. In 2017, Boulder County communities agreed to a goal of ensuring a minimum of <br />12% of the housing inventory will be permanently affordable to low, moderate, and middle - <br />income households by 2035; and <br />H. Boulder County communities created the Boulder County Regional Housing <br />Partnership ("BCRHP") to address regional housing challenges and through the BCRHP agreed <br />to establish a centralized compliance program for rental and homeownership services and <br />dedicate the resources needed to address the housing needs of the community; and <br />I. For over two decades, the City of Boulder has operated a Rental and <br />Homeownership Program ("Rental Compliance Program") that includes administrative and <br />compliance processes. The Rental Compliance Program includes resources to market affordable <br />homes and process applications, verify eligibility of applicants, and provide monitoring and <br />record -keeping. The Rental Compliance Program focuses on training, technical assistance, <br />monitoring, record keeping, and does not act as a property manager; and <br />