Summarize the paragraph below . This legislation, along with the Colorado Supreme Court's decision in Vallagio at Inverness Residential Condo. Ass'n...

Summarize the paragraph below .

This legislation, along with the Colorado Supreme Court's decision in Vallagio at Inverness Residential Condo. Ass'n v. Metro. Homes, Inc., are significant developments in Colorado construction defect litigation. In Vallagio, a clause in the homeowner association's declaration required arbitration of construction defect claims. This clause could not be amended without consent of the developer/declarant. The homeowner association voted to amend the declaration to delete the arbitration provision and filed a civil lawsuit against the developer. The trial court found the vote was valid, but the Court of Appeals reversed. The Supreme Court affirmed the Court of Appeals decision, holding that the consent-to-amend provision is consistent with the Colorado Common Interest Ownership Act (CCIOA), and that the Colorado Consumer Protection Act (CCPA) does not preclude an agreement to arbitrate CCPA claims against a declarant.

These two advances lend greater certainty to the development community and will hopefully make developers more willing to build in Colorado, which is currently facing a shortage of affordable housing. The General Assembly put forth several bills in the last few years to encourage such growth, but HB 17-1279 was the only bill passed in 2017 that addresses the construction of affordable multifamily housing. The population boom in Colorado is slightly cooling off with more Coloradans moving out. Individuals moving away cite unaffordable housing and high cost of living as reasons for leaving the Centennial State.