Gov. Jared Polis vetoed a bill that would have given local governments first crack at buying for-sale apartment buildings, a setback for frustrated housing advocates who questioned how the governor planned to address the affordability crisis in Colorado.
In a letter explaining his decision, Polis said he was concerned about title insurance and what he described as ambiguous language in the bill.
In a joint statement early Tuesday evening, Boesenecker and the bill’s other sponsors — Democrats Rep. Emily Sirota and Sens. Faith Winter and Sonya Jaquez Lewis — accused Polis of siding “with the interests of private equity, hedge funds, and their powerful corporate lobbyists” over the affordability needs of Coloradans, and in spite of Polis’ own “rhetorical commitment” to address those needs.
In his letter, Polis said he was “deeply disappointed” that certain, unnamed stakeholders “chose not to engage” with legislators and instead raised issues with him after the bill had passed. Still, he said, he had a duty to listen to those concerns. The bill would’ve made Colorado the first state in the country to give local governments a right of first refusal on certain housing units. Under the measure, a city could agree to match the purchase price negotiated between two private buyers and snap up the property first.
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