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Anti-growth measures ( various , including Lakewood Question 200 )
Some of the legal changes are as straightforward as outlawing building housing units altogether . Lakewood ’ s limitation that growth in new residential units cannot exceed 1 % annually means less housing units . The resulting cost of housing is not only greater in Lakewood , but in all the surrounding communities that are commutable to and from Lakewood .
Development Fees
( various , including Castle Rock Ordinance 2021-014 )
Many local governments have direct and transparent taxes and fees on building new housing units . The most recent example is the pending Castle Rock requirement of a $ 7 per square foot fee on all new residential housing .
Source of Income Discrimination
( HB 20-1332 )
The Federal Housing Choice Voucher Program ( formerly called Section 8 ) is a voluntary program where people below certain income levels can get the federal government to pay that portion of their rent which would exceed 30 % of their income . For a housing provider , the program is glitchy , expensive to administer and full of opportunities to lose money on the lease transactions . Consequently , many housing providers had elected not to participate in the program . Colorado now requires that landlords participate in the normally voluntary program . The cost of this program , like any operating cost , is ultimately paid by all Colorado renters , whether they ’ re in the subsidy program or not .
Affordable Housing Requirements
( HB 21-1117 )
Local governments have been authorized to require that a percentage of newly constructed rental housing be rented at below market rates to individuals who make less than average income levels . A typical formula is a requirement that 20 % of the new units be offered at a 40 % discount to people making less than 60 % of average income . By artificially limiting the rent revenue that can be earned by a new rental community , fewer communities are built . The development will only become viable after inflationary pressures build up to make the rent 10 % higher on the unsubsidized units ( to offset the 40 % discount given on 20 % of the units ). 80 % of the renters end up paying 10 % more rent to subsidize the rent of the poor . The real tragedy of these ordinances is that the residents paying higher rent are not particularly rich themselves .
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