Right of First Refusal Bill Could Chill Multifamily Development in Colorado
Date postedMay 31, 2023
The state legislature is currently considering a bill that would give “local governments,” - including every city, town and county in Colorado - a right of first refusal to buy any qualifying multifamily property before it is sold on the private market. Under the bill, if a local government acquires a property through the right of first refusal, it is required to convert it to affordable housing.