New developments, new legislation and new momentum in favor of reform.
Industry leaders refuse reform and instead blame you and me for metro district abuse. "We should have known better" before buying a home in a metro district. Listen to their own words:
https://rooneyvalleynews.com/metro-district-developers-say-its-all-your-fault/
Industry leaders finally openly explain their business model. Keep the residents off the residents' own boards until the developers can lock in as much debt as they can. Why. Because if the residents get the vote before they are locked into debt, they will cheat the developers out of what the developers claim they are owed. Eliminate the marketplace and any government accountability. Blank check for the developer. Listen to their own words:
- The League of Women Voters is taking a strong interest in the issues and advocating for reform.
- Two HOA resident groups are working together with us for reform on HOAs and Metro Districts.
- More and more residents are getting on their boards and saying "no" to developer abuse.
- Rep. Story has a bill (HB23-1065) to apply the ethics commission to metro districts
- Rep. Weissman has a bill (HB23-1090) to stop unethical self-dealing non-competitive high priced developer debt where the developer gets paid all the interest.
- The industry has a bill (SB23-110) to stop Rep. Weissman's bill and legalize the self-dealing developer debt conflict of interest.
- The industry bill is called "transparency" yet allowing self-dealing debt has nothing to do with transparency and the faux transparency provisions are either already done or counterproductive. There is a proposed an amendment with resident disclosures not developer disclosures.
Here is an analysis of SB23-110 coming up for Tuesday:
https://rooneyvalleynews.com/reasons-why-sb23-110-should-be-amended-or-opposed/
- Rep. Titone and Rep. Parenti have a bill (HB23-1105) to establish a metro district task force to address abuses and identify reforms.
There is a hearing Tuesday March 7 at 1:30 on the industry bill. Here is how to testify in person or by zoom to oppose and amend to delete section (4), the developer self dealing bond provision and to amend adding a resident disclosure instead of developer disclosures.
https://www2.leg.state.co.us/CLICS/CLICS2023A/commsumm.nsf/signIn.xsp
Here are the bills
1. Story bill to apply ethics commission to metro districts:
https://leg.colorado.gov/bills/hb23-1065
2. Weissman bill to stop self-dealing developer bond debt
https://leg.colorado.gov/bills/hb23-1090
3. Industry bill to oppose Weissman bill and legalize unethical self-dealing developer debt
https://leg.colorado.gov/bills/sb23-110
4. Titone and Parenti bill for metro district task force
https://leg.colorado.gov/bills/hb23-1105
Thank you!. Let the legislators hear your stories of abuse. They need to hear from you.
Here are the legislators who will decide on Tuesday whether the industry gets to keep abusing residents with unethical self-dealing developer debt
https://leg.colorado.gov/committees/transportation-housing-local-government/2023-regular-session