|Posted:||February 18, 2019 09:14 PM|
|From:||Representative Stephen Barrar|
|To:||All House members|
|Subject:||Loan/Grant Program for Stucco Issues After the Statute of Repose Has Expired|
|Colleagues, please join me in sponsoring this consumer-friendly legislation. Some years ago in my region of the state, homebuilders began using a modern stucco system for the exterior walls of many, many new homes. Installation, however, often resulted in significant gaps in the moisture and water barriers which are designed, if installed properly, to keep water from intruding behind or underneath the stucco exterior. Rot of the internal walls and even mold could and did result.
Thousands of homes around my region developed this condition, and costs to remove the exterior walls and redo the entire house can run as high as $200,000 per house. This is not covered by insurance, and often the builders have closed up the single purpose companies set up to build any given group of homes, rendering the builder judgment proof at some level. Sometimes the problems do not even manifest themselves until after the statute of repose, or clock, has run for bringing a lawsuit against a builder. It is true that some builders try to remedy the problems if the claim is made in the warranty period.
There are already bills to extend the statute of repose. I think we also need to set up a program of some kind to help these thousands of homeowners deal with their problem where they have discovered the problem after the statute has run. I have crafted a low interest loan/grant program with general fund dollars for those homeowners who have no legal claim because they have discovered their problem after the clock ran out. Precisely how this will be funded, or from what source, is in my mind negotiable, but it is a terrible and real problem in my region and our communities need some help to solve it. I would like this to be a start of a new conversation on this subject and I am open to amending the bill in any number of ways to achieve some relief for this very large group of our constituents.
Please consider signing on this consumer-friendly legislation.