Last month we shared with you the work Colorado Concern has been doing with the Metro Mayors Caucus, the affordable housing community, like-minded business groups and the development community to craft a solution focused on addressing a lack of multifamily, for-sale development (condominiums) in our state.
You may recall that current state law is written in such a fashion that class-action litigation over construction defects is the norm, not the exception. As a result, the costs of condominiums rise out of the reach of many entry-level buyers - including young families with children. And that's if the condominiums are built at all. This is a market that builders would like to serve, but they simply cannot afford to shoulder the risk. And so, today, multifamily projects are being built as "for rent" properties, which serve an important segment of our population, but do not meet the needs of all. Like you, we prefer that the market - not the legal environment - shapes Colorado's housing inventory. And we believe there are reasonable common sense remedies included in Sen. Jesse Ulibarri's Homeownership Opportunity Act of 2014.
Politics, not good policy, is now driving the debate on this issue. With the legislative session ending on May 7, the clock is ticking. Both Senate President Morgan Carroll and Speaker of the House Mark Ferrandino have voiced concerns with the proposal, and to-date the President has not taken the necessary steps to read the legislation across the desk and assign it for committee hearing(s). We believe that must occur - and now.
Add your voice to those of others in Colorado Concern, the broader business community, affordable housing advocates and municipal leaders by taking action through our ENGAGE System. Click here
to begin the process. A prepared message on the issue is available, and by typing in your home address the program will target the message to legislative leaders and your personal representative in the Colorado House and Senate.
Thank you for your action.
Should you have questions about this proposal, or any other legislative measure, please do not hesitate to contact me at [email protected].
Warmly,
Tamra
Colorado Concern Legislative Tracking
Click hereto find out what legislation Colorado Concern is tracking. The report includes links to bill text, sponsors, Colorado Concern's positions, bill status, and additional notes.
Click here to download the Colorado Concern At a Glance Status Sheet for quick tracking of Colorado Concern's bills of interest.
Below is information on upcoming Colorado Concern events.
Click herefor more information or to register to attend events.
May 22: Membership Networking Breakfast Hosted by John Ikard and Featuring Ken Lund
7:30 to 9:00 a.m., Colorado Concern, 140 East 19th Avenue, Suite 400
June 18: Membership Networking Lunch Hosted by Steve Farber
11:30 a.m. to 1:00 p.m., Colorado Concern, 140 East 19th Avenue, Suite 400
Join Colorado Concern for a Membership Networking Breakfast May 22 hosted by John Ikard and featuring Ken Lund, Executive Director of the Colorado Office of Economic Development and International Trade. Click herefor details and to register. ___________