HB 1220 Relating to Affordable Housing in Mountain Communities Signed by Governor
On April 22, 2009, Governor Ritter signed House Bill 09-1220. This bill relates to affordable housing in certain mountain common interest communities. Specifically, the bill only applies to counties with populations of less than 100,000 and that have a licensed ski lift. Also, Declarant-controlled communities are exempt from this bill.
The bill adds a new section to the Colorado Common Interest Ownership Act, at Section 38-33.3-106.5. Essentially, the bill requires associations to permit owners to promote affordable housing through deed restrictions. Under the bill, an association may not prohibit a unit owner from:
(i) restricting the permissible sale price, rental rate, or lease rate of their unit, or
(ii) subjecting their unit to occupancy or other requirements designed to promote affordable or workforce housing.
Only the unit owner may occupy a unit that is under a restriction described above.
In addition, a future owner who purchases a unit under a restriction described above may lift the restriction as long as a similar unit in the same common interest community replaces the unit from which the restriction is lifted.
HB 09-1220 takes effect on August 5, 2009.