CO HB1117

Allows local governments to regulate development and redevelopment to promote construction of new affordable housing units, exempting such regulations from Colorado's rent control prohibition if they provide property owners alternative options.

Prohibits local governments from exercising this authority unless they demonstrate adoption of at least one action to increase housing density or promote affordable housing, such as zoning changes, reduced fees and taxes, density bonuses, or making surplus public property available for housing development.

Specifies that regulations restricting rents on newly constructed or redeveloped housing units must offer property owners a choice of options and create alternatives to on-site affordable housing construction.

Clarifies that the bill does not authorize control of rents on existing private residential housing units and does not affect voluntary affordable housing agreements or land use regulations adopted before the bill's effective date.

Directs the Department of Local Government to offer guidance to assist local governments in implementing these provisions.