Colorado

Colorado

HB 1017 "Voluntary Agreement Affecting Rent on Private Residential Properties"
would expand the scope of voluntary agreements between municipalities and private developers for affordable housing units. The LPC voted to oppose this bill in February. According to current legislation, a governmental entity can control any property in which it has an interest through a housing authority or similar agency. This bill attempts to define "interest" so that the local government can impose a rent control restriction through a deed restriction or covenant, or similar instrument. This would provide a local government considerable leverage over the owner/developer to sign a deed restriction with a rent control provision when approving a project and give the government the power to enforce that restriction. If so, that deed restriction would be exempt from the rent control prohibition. The deed restriction or covenant would run with the property and can never be altered without the written express consent of the government agency and an owner. The bill sponsors are concentrating on mountain area concerns; however, the bill affects the statewide prohibition concerning rent control. Additionally, this bill allows changes to existing contracts to retroactive applications. The LPC believes the process already in place today works. The bill passed out of the House and is headed to the Senate.

HB 1288 "Commercial Real Estate Brokers' Commission Security Act"
is one of the two bills CAR has introduced this session. It would permit a broker involved in a commercial lease transaction to place a lien on the property when there is a written agreement between the broker and property owner or owner's agent. CAR has faced a lot of pressure from some of its former allies who do not want to see this bill passed. In response, CAR has hired the services of an additional lobbyist using Issues Mobilization funds. A Call to Action has been issued on this bill. If you haven’t responded, you can do so here: http://takeaction.realtoractioncenter.com/campaign/supporthb1288_clone_clone