In a continued effort to preserve and create affordable housing in Colorado, the General Assembly passed House Bill 24-1175 on the final day of the 2024 legislative session. Now in effect, this law grants local governments – defined as a city, city and county or town – a right of first refusal on the sale of certain affordable properties and a right of first offer on certain market-rate properties before those properties can be sold to private buyers. Together, these tools aim to address the state’s affordable housing dilemma by empowering local governments to intervene in the market in ways intended to support long-term affordability in their communities.
