This is a big week for Colorado.  The first committee hearing for Senate Bill 177, the construction defects reform legislation, is set for Wednesday, and it most likely will be a contentious hearing.  We all know who opposes this legislation and what they plan to say at the Capitol.  We need your voice to also be heard to ensure that this significant legislation receives the broadest support possible as it makes its way through the process.

As you know, a big hurdle to building condos and townhomes across our state is the defect in Colorado law that exposes homebuilders and homeowners to a high risk of expensive litigation.  This situation no doubt will have a serious impact on Colorado's economy.  Right now, rent increases in the metro Denver area are outpacing those in all other U.S. cities, including San Francisco and New York.  Denver's median home price of $329,000 is the highest of any major city not on a coast, and $114,000 higher than that of Phoenix.

This situation is not good for Colorado's economy, housing market or families.  That's why Colorado Concern has been a leading organization on this issue and is part of the Homeownership Opportunity Alliance's drive to pass meaningful legislation to fix the defect in state law.

This issue is being noticed statewide.  The cities of Durango and Fort Collins in recent months have focused on the lack of affordable housing in their communities - and both have noted the impact of construction defects on their housing markets.  It is also a major focus of news media across our state. Just last week, the Boulder Daily Camera signaled its support for Senate Bill 177, noting:

"... we do believe in making this less fertile ground for trial lawyers and their hefty contingency fees.  Requiring a majority vote of an HOA's members rather than merely its board, and requiring it to resort to mediation and arbitration before or instead of court, strike us as fair ways to address the problem."

The Camera's editorial joins similar calls to action from The Denver Post, Colorado Springs Gazette, Longmont Times-Call and Loveland Reporter-Herald.  It also joins 50 statewide organizations and more than 30 mayors across the state.

Please take a moment to send a letter to your state senator by clicking here. Every voice counts in this debate.

We will be certain to keep you updated on Senate Bill 177 as it continues through the legislative process.  If you have any question, please do not hesitate to contact me at tamra@coloradoconcern.com.

Warmly,