Despite the balanced approach of a statewide coalition of community leaders — the Homeownership Opportunity Alliance — Senate Bill 106 will not make it to the Governor’s desk for signature this year. Senate Bill 106, a strongly bipartisan housing affordability bill, received overwhelming support in the Colorado Senate, including the majority of Senate Democrats and all Senate Republicans. Unfortunately, it did not survive in the House of Representatives despite efforts by its House sponsor to find meaningful compromise with the bill’s opponents.
"I’m proud of the bi-partisan effort to address our cities’ and the state’s housing needs. Housing impacts our economy and our daily lives. And homeownership is a central part of fulfilling the American Dream,” said Colorado Springs Mayor Yemi Mobolade. “Senate Bill 106 was a balanced and modest proposal designed to diversify our housing inventory by allowing alternative methods for homeowners to resolve construction issues outside of litigation. Finding solutions to bring more housing within reach for all our residents will continue to be one of my highest priorities.”
Mayor Yemi Mobolade joined 28 Colorado mayors on Friday in sending a letter to the Colorado General Assembly to express their support for SB24-106, the Right to Remedy Construction Defects Act. The letter states the goal of the bill is to help reduce insurance costs by decreasing the magnitude and frequency of claims, provide other means to ensure consumer protection by resolving disputes faster for homeowners, helping to reduce building costs to produce attainably priced homes, and ultimately creating more opportunities to build wealth for Coloradans through homeownership.
“We want to convey our shared concerns about the housing affordability issue that we currently face,” wrote the Mayors. “There is not one city, town or community in Colorado that is immune to this challenge, and as Mayors we see the impacts firsthand. We are closest to the actual issue, as we are neighbors and friends with our residents and constituents, and we are keenly aware of how Colorado’s housing shortage and affordability crisis negatively impacts the people and businesses in our communities. We need more housing at affordable prices...and we need it now. That is why we are collectively expressing our support for SB24-106, sponsored by Senator Zenzinger, Senator Coleman, and Representative Bird.”
A copy of the letter can be found here.
The bill has gained wide support from multiple institutions:
Colorado Springs Chamber & Economic Development Corporation
Colorado Realtors: https://coloradorealtors.com/2024/02/28/call-for-action-support-sb24-106-right-to-remedy-construction-defects/
Colorado Strong Business Alliance: https://coloradostrongbusinessalliance.org/wp-content/uploads/2024/02/Colorado-SBA-statement-on-SB24-106.pdf
The HomeOwnership Opportunity Alliance: https://www.hbadenver.com/2024/02/23/cahb-advocacy-update/
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