Innovative Housing Incentive Program (IHIP) To Be Finalized Soon!
HB22-1282 went into effect on May 20, 2022, and it establishes a $40 million Innovative Housing Incentive Program (IHIP) to incentivize the construction and installation of prefabricated homes in Colorado, e.g. modular homes and tiny homes. IHIP will be housed under the Office of Economic Development and International Trade (OEDIT). OEDIT has drafted guidelines for IHIP, received public input in response to the draft guidelines, and is currently working to finalize them by mid-November. DOH staff members are assisting OEDIT with this process along with other members of the IHIP interagency group convened to implement this program. The bill also directs OEDIT to consult with DOH in the establishment of its loan application process and to collaborate with DOH in the consideration of loan applications and the awarding of any loan funds.
