DENVER – Talks over issues “critical” to a proposed bipartisan construction defects bill have pushed back a hearing on the bill.
Supporters of HB1279 hope it will resolve complaints by builders that Colorado laws make it too easy for condo associations to file class action lawsuits against them that have led fewer affordable condos being built in a tight housing market.
“So many of the projects that have the opportunity to be built aren’t being built because insurance rates are so high,” Kathy Barstar of the Home Ownership Opportunity Alliance told Nicole Brady on this week’s Politics Unplugged. “They are often finding that their insurance costs are so high that they [developers] can’t make it work unless they are doing it at that significantly higher price point which you see in Cherry Creek and various other places.”
Lakewood mayor Adam Paul says whatever changes are made, homeowners still need to be protected.
“Let’s get it taken care of. Let’s make sure that all of the owners have the opportunity to understand what the issue might be. Let them all weigh-in, get it fixed,” Paul told Brady. “Lets keep it out of litigation. Let’s keep it out of court. And we’re certainly here to make sure on the city’s end that they’re being built right through our codes and our rules and regulations.”