A new law in Colorado will allow cities to require the construction of more affordable housing, but it still includes some limits on their powers.
Signed by Gov. Jared Polis last week, HB21-1117 says that municipalities can specifically require that new developments include a certain number of units that will have more affordable rents, though the law doesn’t define what is “affordable.”
Municipalities can decide whether to use this new power, also known as inclusionary zoning. If they do, there’s a catch: They also must provide at least one other option to the developer. For example, instead of building affordable units, a developer might be allowed to pay a fee instead. And cities that want to require new affordable units also have to embrace other policies that make it easier to build housing.
Are you having problems paying rent, especially since you recently lost your job or have no source of income during this pandemic? The government is willing to support you by paying up to 13 months of your rental!