Millions of dollars for affordable housing efforts will become available to Colorado counties and municipalities later this year, a result of Proposition 123 passing last fall.

But to qualify for those funds, governments will need to commit to increasing their stock of affordable housing by at least 3% per year.

The ballot question asked voters to dedicate one-tenth of 1 percent of the state’s income tax revenue to fund housing programs; that’s expected to amount to about $300 million in the 2...