Chapter 1 - § 1.2 • LEGISLATIVE INTENT

• Jurisdiction: Colorado

§ 1.2 • LEGISLATIVE INTENT

The Colorado General Assembly added a statement of legislative intent to the CCIOA that says that it finds it is in the best interests of the state to establish a clear, comprehensive, and uniform framework for the creation and operation of common interest communities and that the continuation of Colorado's economic prosperity is dependent on strengthening homeowners' associations in common interest communities financially by setting budget guidelines, creating statutory assessment liens, granting six months' lien priority, facilitating borrowing, empowering associations to sue on behalf of owners, and enhancing the financial stability of associations by increasing their powers to collect delinquent assessments, late charges, fines, and enforcement costs. The statement sets forth three state policies: (1) giving developers flexible development rights with specific obligations; (2) promoting effective and efficient property management; and (3) promoting availability of funds for financing development of homeowners' associations by enabling lenders to extend financial services to a greater market on a safer, more predictable basis.¹¹³

The 2008 legislature added language, effective July 1, 2008, that...