Greenwood Village Initiates Asbestos Program That Could Be Costly To Property Values
Da Vinci Remodeling News Alert
December 30, 2009
Earlier this month we received a letter (addressed to licensed contractors) from the city of Greenwood Village, CO.
The following are parts of the letter we feel are important to Greenwood Village homeowners.
"... beginning January 1, 2010."
"All permit applications that meet the requirement of the State of Colorado Air Quality Control Commission Regulation No. 8 Part-B-Asbestos will be required to provide an inspection report prior to the issuance of a permit."
"Examples of renovation work include replacement or repair of mechanical ventilation systems, pipes, ceilings, walls, flooring (including floor tiles) and insulating materials."
"... Buildings, or those portions therof, that were constructed after October 12, 1988 shall be exempt from this inspection requirement if an architect or project engineer responsible for the construction of the building, or a state certified inspector, signs a statement that no ACM was specified as a building material... or no ACM was used as a building material in the building."
Our analysis of this is as follows:
1. Although this is state law, we are not aware of any other jurisdiction that has tied the asbestos inspection to the issuance of a residential remodeling permit.
2. The inspection fee for a simple kitchen or bath remodel is estimated at $750.00. This inspection is also invasive (samples must be removed for testing) and the holes made during the inspection will need to be repaired, should you decide not to proceed with the remodel.
3. Should the inspection identify the presence of asbestos, whether you proceed with the remodel or not, you will need to disclose this information at the sale of the property. Simply put, a possitive asbestos inspection, could be the "kiss of death" for your property value.
4. The cost of asbestos abatement could exceed the cost of the remodeling project. Even if you decide to abate the asbestos and complete the remodel, you will still be required to disclose this information at the sale of the property (if it was found in one area of the house, it may well exist throughout the house).
5. Because of items 2, 3, and 4 many (most) homeowners will decide not to risk a positive result and not remodel. This could possibly lead to a city full of outdated (possibly delapidated) homes that (due to fear of items 2, 3 and 4)cannot be remodeled by a future homeowner.
6. If you have a home built after October 12, 1988, we would recommend that you track down the original architect, engineer and/or state certified asbestos inspector, and obtain a signed statement that no asbestos containing material was used in the construction of your home.
The actual letter can be read in its entirety on the link below.