Editor:

This is in response to the Sept. 19 Colorado Statesman article “Denver Metro Chamber of Commerce looks ahead after tough year at statehouse”

Low-Income Housing Tax Credits should be decoupled from the debate around construction defects. For the past 30 years, federal housing credits have been the single most successful tool for producing affordable housing — not only in Colorado but across the nation. Since the housing credit was established in 1986, it has aided in the creation of nearly 3 million affordable rental homes in the United States. In Colorado alone, housing credit have financed the development or preservation of more than 30,000 homes and generated $1.6 billion in tax revenue and over $4 billion in local income. The housing credit is one of the most successful government programs because it leverages billions of dollars of private capital and places the risk of non-performance on the private sector.It is because of this success that the Colorado Legislature established a Colorado housing credit to further accelerate housing development and preservation as demand continues to outpace supply. The wise decision by the Legislature to fund the state housing credit program through 2016 not only makes economic sense, it also shows a commitment to take a multi-faceted approach to tackle the growing affordable housing crisis in Colorado. Housing credits are not — and should not be viewed as — a response to construction defects issues, but rather, as one of the most valuable tools we have to preserve and produce affordable housing. They were a valuable tool well before (and hopefully will be well after) the fairly recent elevation of construction-defect litigation as a barrier to housing construction.

Colorado has seen an explosion of new residents, and many are unable to afford the rapidly rising rental prices in our state. Far too many families are housing insecure, paying more than 50 percent of their income on housing, including 160,000 in our state alone.

Embracing all avenues in the production of safe, affordable and desirable housing is what will keep our state strong, vibrant and a lovely place to live for current and future generations.

Tiana PattersonState and Local Policy program officerEnterprise Community PartnersDenver