Colorado Association of Realtors Legislative Update

SB 220 “Construction Defects” 220 (House sponsors Singer and DelGrosso) CAR position: Support. This bill was introduced in the waning days of the session. It would have protected condominium and townhome owners from unexpected, costly and burdensome litigation that has caused construction of attainably-priced condos and townhomes to grind to a halt. The bill would have stopped the current practice that allows a minuscule number of owners within a condominium or townhome project to enter into legal action without the knowledge or authorization of the rest of the homeowners. Condo and townhome owners have attempted to sell or refinance their homes and been told to their surprise that they can’t because legal action places a cloud on the title. Unfortunately the bill was assigned to multiple committees by Senator President Carroll as a stall tactic. This allowed legislators to use the excuse that there wasn’t enough time to get it through the legislature and the bill was killed.

HB-1375 “Modifications to Urban Renewal” CAR Position: Oppose
This bill requires county representation on the governing board for an URA and adds additional restrictions and requirements to the disbursement of the TIF revenues. It adds another layer of complication to the already complex negotiations involved in creating a URA and as such the bill was opposed by the Colorado Municipal League and economic development organizations.
In the Senate an attempt was made to modify the bill and turn it into a study but that amendment was stripped and it was approved in its original form.

This entry was posted in Gov't Affairs, Govt - CO Assoc. of Realtors® and tagged , , , . Bookmark the permalink.

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