Bill To Promote Condo Construction Goes To Governor
DENVER (AP) — Colorado's Legislature has passed a measure to address pent-up demand for more housing by promoting condominium construction.
The Senate on Thursday unanimously passed the bill , which makes it harder for homeowners associations to sue builders over alleged faulty construction.
Developers blame skyrocketing insurance costs to defend such lawsuits for a dramatic slowdown in condo construction in Colorado.
The bill would require homeowners to discuss any problems with developers before any legal action. It also would require condo owners' approval before any homeowners association can file suit on their behalf.
The bill heads to the governor's desk.
In the absence of state action, some 17 Colorado municipalities had adopted their own measures on homebuilder liability.
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