(1) Legislative declaration. The general assembly hereby finds and declares that: (a) Transit ridership, land use development patterns, affordability and availability of housing, roads, and greenhouse gas emissions from the transportation sector are interconnected issues that have impacts and concerns well beyond the borders of a single local community; (b) Colorado has an interest in ensuring a stable quantity and quality of housing in alignment with population growth and ensuring that shared resources, investments, and goals such as roads, infrastructure, transit, air quality, water, and greenhouse gas mitigation are protected in the process; and (c) Increasing housing density in transit-oriented communities is a matter of mixed statewide and local concern that requires statewide cooperation. (2) Housing opportunity goal calculation. A transit-oriented community shall calculate its housing opportunity goal by multiplying the total area of the transit areas, as defined in the transit areas map created pursuant to section 29-35-207 (1), within the local government's jurisdiction, exclusive of the exempt parcels in those transit areas, by forty dwelling units per acre. (3) Preliminary transit-oriented community assessment report. (a) On or before June 30, 2025, a transit-oriented community shall, in a form and manner determined by the department, submit a preliminary transit-oriented community assessment report that includes: (I) The transit-oriented community's housing opportunity goal and the data and method the transit-oriented community used to calculate its housing opportunity goal; and (II) A map of existing zoning districts within the transit-oriented community that may qualify as transit centers and preliminary evidence for this qualification, including the standards applicable to these zoning districts. (b) If applicable, a transit-oriented community may include in the report described in subsection (3)(a) of this section any affordability or displacement strategies that the transit- oriented community has implemented. (c) The department shall review a preliminary transit-oriented community assessment report submitted by a transit-oriented community pursuant to this subsection (3) and either provide written notice approving the report or provide direction for amending and resubmitting the report. (4) Housing opportunity goal compliance. On or before December 31, 2027, a transit- oriented community shall satisfy the following criteria, which must be satisfied to qualify as a certified transit-oriented community. A transit-oriented community shall: (a) Designate areas within the transit-oriented community as transit centers and ensure that those areas satisfy the requirements in section 29-35-205; (b) Ensure that the total zoning capacity for all transit centers within the transit-oriented community is greater than or equal to the transit-oriented community's housing opportunity goal; (c) Submit a housing opportunity goal report and have the report approved by the department pursuant to subsection (8) of this section; and (d) Three years after submitting a housing opportunity goal report pursuant to subsection (8) of this section, and every three years thereafter, submit a status report pursuant to subsection (9) of this section that is approved by the department. (5) Insufficient water supplies for meeting a housing opportunity goal. (a) On or before December 31, 2026, and every three years thereafter, a transit-oriented community may submit a notice, in a form and manner determined by the department, that the supply of water from all water supply entities, as defined in section 29-20-302 (2), that serve the transit-oriented community is insufficient during the next three-year period to provide the domestic water service necessary to meet the transit-oriented community's housing opportunity goal. The water supply entities shall provide information and assistance as necessary to complete the notice allowed by this subsection (5). The notice allowed by this subsection (5) must include, but is not limited to: (I) An analysis of water demand based on: (A) Projected housing and population growth, as estimated by the state demography office or a relevant metropolitan planning organization; and (B) A reasonable zoning capacity buffer, as estimated based on relevant local, regional, or state data. (II) Any data, professional opinions, or other information used to create the analysis in subsection (5)(a)(I) of this section; (III) Documentation demonstrating both an up-to-date water supply plan that complies with section 29-20-304 (3) and an up-to-date water efficiency plan that complies with section 37-60-126 (1) to (5); and (IV) A proposal that may include: (A) Evidence that the water supply entity lacks adequate water supply to provide the amount of water identified in subsection (5)(a)(I) of this section; and (B) A request for a modification of the housing opportunity goal during the next three- year period based on the analysis of water demand identified in subsection (5)(a)(I) of this section. (b) Upon receiving the notice described in subsection (5)(a) of this section, the department shall review the notice and determine whether to accept, provide comment on, or deny the proposal described in subsection (5)(a)(IV) of this section. (6) Affordability strategies. (a) On or before December 31, 2026, a transit-oriented community shall identify affordability strategies that it will implement or has already implemented while meeting its housing opportunity goal. In so doing, the transit-oriented community shall identify affordability strategies based on the demonstrated housing needs within the transit-oriented community, including for-sale and rental housing needs and the housing needs of low-, moderate-, and medium-income households, as designated by the United States department of housing and urban development. (b) (I) On or before December 31, 2026, a transit-oriented community shall include the following in its housing opportunity goal report submitted pursuant to subsection (8)(a)(IV) of this section: (A) At least two strategies included in the standard affordability strategies menu described in section 29-35-208 (1) that the transit-oriented community identified pursuant to subsection (6)(a) of this section and intends to implement; (B) At least one strategy included in the long-term affordability strategies menu described in section 29-35-208 (2) that the transit-oriented community identified pursuant to subsection (6)(a) of this section and intends to implement; and (C) An implementation plan describing how the transit-oriented community has or will implement the affordability strategies identified pursuant to subsections (6)(b)(I)(A) and (6)(b)(I)(B) of this section. (II) For purposes of satisfying the requirements of this subsection (6)(b), a transit- oriented community shall not: (A) Count one or both of the strategies described in sections 29-35-208 (1)(e) and (2)(c) toward satisfying the requirements of both subsections (6)(b)(I)(A) and (6)(b)(I)(B) of this section; or (B) Count any strategy described in section 29-35-208 that is otherwise required by state law. (7) Displacement mitigation strategies. On or before December 31, 2026, a transit- oriented community shall include the following in its housing opportunity goal report, pursuant to subsection (8)(a)(V) of this section: (a) Two displacement mitigation strategies that the transit-oriented community has adopted or will adopt from the long-term displacement mitigation strategies menu developed by the department pursuant to section 29-35-209 (3) to mitigate displacement risks while meeting its housing opportunity goal; and (b) An implementation plan describing how the transit-oriented community will implement the displacement mitigation strategies it identifies pursuant to subsection (7)(a) of this section. (8) Housing opportunity goal report. (a) On or before December 31, 2026, a transit- oriented community shall submit a housing opportunity goal report to the department in a form and manner determined by the department. If a transit-oriented community cannot include any of the following items in its housing opportunity goal report on or before December 31, 2026, the transit-oriented community shall indicate why it cannot do so and its progress toward being able to include those items in its housing opportunity goal report. The report must include the following, along with any other elements identified by the department: (I) The transit-oriented community's housing opportunity goal; (II) Evidence that the transit-oriented community has met its housing opportunity goal pursuant to subsection (4)(b) of this section; (III) A map that identifies the boundaries of any transit centers within the transit- oriented community and evidence that those areas satisfy the requirements in section 29-35-205; (IV) Affordability strategies identified pursuant to subsections (6)(b)(I)(A) and (6)(b)(I)(B) of this section and the implementation plan described pursuant to subsection (6)(b)(I)(C) of this section; (V) Displacement mitigation strategies identified pursuant to subsection (7)(a) of this section and the implementation plan described pursuant to subsection (7)(b) of this section; (VI) A description of community engagement that the transit-oriented community conducted in the process of meeting its housing opportunity goal, identifying affordability strategies pursuant to subsections (6)(b)(I)(A) and (6)(b)(I)(B) of this section and identifying displacement mitigation strategies pursuant to subsection (7)(a) of this section; and (VII) If applicable, and if the transit-oriented community so chooses, evidence that the transit-oriented community has satisfied the requirements of subsection (5) of this section. (b) The department shall review a housing opportunity goal report submitted by a transit-oriented community pursuant to subsection (8)(a) of this section and provide written notice that either: (I) Approves the report and affirms that the transit-oriented community has satisfied the relevant requirements of this section and is therefore considered a certified transit-oriented community; or (II) Provides direction for amending and resubmitting the report and requires that the transit-oriented community resubmit the report within ninety days of receiving the written notice. (c) If the department has not approved a transit-oriented community's housing opportunity goal report on or before December 31, 2027, the department shall provide the transit-oriented community written notice that the transit-oriented community is in non- compliance with this part 2 and is not a certified transit-oriented community. (d) (I) The department shall identify certified transit-oriented communities for the purpose of establishing eligibility for state grant and incentive programs. (II) Pursuant to section 29-35-210 (6), a certified transit-oriented community is eligible for the award of a transit-oriented communities infrastructure grant program grant. (III) The department shall identify certified transit-oriented communities, including compliance with the requirements for affordability strategies in subsection (8)(a)(IV) of this section and displacement mitigation strategies in subsection (8)(a)(V) of this section, for the purposes of establishing eligibility for the Colorado affordable housing in transit-oriented communities income tax credit in part 54 of article 22 of title 39. (9) Status report. (a) Every three years after submitting a housing opportunity goal report pursuant to subsection (8)(a) of this section, a transit-oriented community shall submit a status report to the department in a form and manner determined by the department that confirms that the transit-oriented community is still a certified transit-oriented community. (b) The department shall review a status report submitted by a transit-oriented community pursuant to subsection (9)(a) of this section and provide written notice that either: (I) Approves the report and affirms that the transit-oriented community has satisfied the relevant requirements of this section and is therefore considered a certified transit-oriented community; or (II) Provides direction for amending and resubmitting the report and requires that the transit-oriented community resubmit the report within ninety days of receiving the written notice. (c) If a transit-oriented community fails to submit a status report to the department pursuant to subsection (9)(a) of this section or fails to submit an amended status report pursuant to subsection (9)(b)(II) of this section, the department shall provide the transit-oriented community written notice stating that the transit-oriented community will not be deemed a certified transit-oriented community.
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