Description
Title: Presentation on Preservation Ordinance Policy
Summary
The 2026 Housing Preservation Ordinance, discussed by the Denver City Council's Budget & Policy Committee, aims to enhance the preservation of affordable housing in Denver. This legislation updates the existing ordinance, originally adopted in 2000 and amended in 2019, to ensure that affordable housing units are maintained amid rising housing costs. Key changes include extending the affordability period from 60 to 99 years and introducing a Right of First Offer (ROFO) for certain market-rate properties. The ordinance impacts affordable housing owners, potential buyers, and residents by providing clearer processes for preserving housing affordability and ensuring that existing affordable units remain protected against market pressures. This legislation is significant for the city's efforts to maintain affordable housing stock as it navigates changing economic conditions.