The Denver Metro Chamber of Commerce announced its position on a bill aiming to address the lack of affordable condominiums in the state.
The Chamber supports HOA Construction Defect Lawsuit Approval Timelines (SB15-177).
Summary: The bill preserves dispute resolution provisions, such as mediation or arbitration, for construction defect claims contained in a project’s original governing documents, requires all owners in a building be informed about the impacts and costs associated with a defect claim and requires that a majority of owners agree to filing a claim.
The Chamber supports SB15 – 177 because it would be a step toward encouraging builders to construct more affordable housing and it supports the growth of our state’s economy by providing diverse housing options in our communities. The Chamber has been working on this bill with a broad coalition concerned with the lack of entry-level condominium construction in Colorado compared to other parts of the country. The Chamber supports a process that allows for a quick resolution of construction issues that is fair to homeowners who need repairs, while protecting the rights of all owners in a community.
Click here to view all the Chamber’s positions this session.
Jennifer Jones is the director of public affairs for the Denver Metro Chamber of Commerce.
[Photo by: Ken Lund]
