GreenCO issues statement on construction defects bill |
News |
Tuesday, March 21, 2017 03:00 AM |
GreenCO has issued a position statement on Colorado's pending construction defects legislation. Background A big hurdle to building more entry-level housing is a flaw in state law that exposes homebuilders, construction and maintenance contractors and homeowners to a high risk of expensive, time-consuming litigation. It has created a climate that has effectively stopped new construction of affordable, multi-family housing, scaring off investment in the affordable-housing market. And it is forcing would-be homebuyers to rent, instead of owning a home. The state legislature needs to enact legislation that fixes this situation. First and foremost, Colorado must have a process that allows for a quick resolution process for construction issues that is fair to homeowners who need repairs while protecting the rights of all owners in a community. This can be done by requiring mediation before a lawsuit is filed and utilizing arbitration instead of litigation and requiring disclosure to all homeowners in a community about a potential lawsuit, its costs and impact on home values. By doing this, state lawmakers can go a long way toward jump-starting new construction of condos and townhomes. GreenCO supports legislation that:
Read more in this issue of Colorado Green NOW: |