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DENVER, CO - Governor Polis today signed into law a bill that will create more housing options Coloradans can afford by allowing more homeowners to build Accessory Dwelling Units (ADUs).
“Coloradans are relying on us to pass effective legislation to tackle the housing crisis, and this law gives homeowners the tools to create more housing opportunities,” said Rep. Judy Amabile, D-Boulder, sponsor of HB24-1152. “From housing aging relatives to renting out extra space, ADUs offer alternative housing options that can save Coloradans money on housing and legalize alternative home-care placements. This is an important bipartisan law that makes it easier for Coloradans to live near their jobs, schools, and loved ones.”
“Colorado families and communities are desperate for solutions to help address the housing crisis and build more homes for working Coloradans,” said Senator Kyle Mullica, D-Thornton, sponsor of HB24-1152. “Our bill will give more Coloradans the freedom and support they need to build ADUs on their property, allow more older Coloradans to age in place, and create more affordable housing options in our communities.”
“Everyone deserves a safe and comfortable place to live, but too many families are struggling to afford the cost of housing in our state,” Senator Tony Exum, Sr., D-Colorado Springs, sponsor of HB24-1313 said. “By giving folks the flexibility to build ADUs on their property, as well as providing grant funding to help cover construction costs, we can bring down housing prices and keep more Coloradans in the communities they call home.
HB24-1152, also sponsored by Representative Ron Weinberg, R-Loveland, allows homeowners in subject jurisdictions to build an ADU with fewer obstacles and creates a new $5 million state grant program to help local governments implement policies to promote and streamline the construction of ADUs.
The grant program would enable local governments to support lower and middle-income Coloradans building an ADU, property owners renting their ADU at an affordable rate, and the construction of accessible ADUs.
Finally, HB24-1152 provides $8 million in funding through the Colorado Housing and Finance Authority to directly help homeowners in ADU-supportive jurisdictions build ADUs, including with down payment assistance, affordable loans, and buying down interest rates on loans for the conversion or construction of ADUs.
Recent polling found that 78 percent of Colorado voters support a law that allows ADUs to be built on single-family home properties.