New pilot program to help condos pay for safety

A new pilot program just signed into law could provide critical help for the village’s condominiums.

The new law provides condo associations with inspections recommending mitigation improvements and the opportunity to apply for improvement grants.

The Safe Florida Condo Pilot Program, which becomes effective next month, is an initiative aimed at enhancing the structural safety and integrity of condominium buildings throughout Florida. This program was developed in response to the tragic collapse of the Champlain Towers South in Surfside, Florida, in June 2021, which resulted in the loss of 98 lives and brought to light significant concerns about the maintenance and safety of older residential buildings in the state.

The primary objective of the Safe Florida Condo Pilot Program is to prevent similar tragedies by ensuring that condominium buildings, particularly older ones, are structurally sound and well-maintained. The program specifically targets buildings that are over 30 years old.  Century Village East just recently celebrated its 50th anniversary.

The goal is to identify any signs of deterioration, corrosion, or other issues that could compromise the building's integrity.

Recognizing that the cost of inspections and repairs can be substantial, the Safe Florida Condo Pilot Program includes provisions for financial assistance. This assistance may come in the form of grants, low-interest loans, or other funding mechanisms designed to help condominium associations cover these expenses.

The bill places specific limits on grant awards. The limit for roof-related projects is set at $11 per square foot times the square feet of the replacement roof, limited to $1,000 per unit, and the maximum grant contribution is limited to 50 percent of the project. The limit for opening protection-related projects grant contribution is a maximum of $750 per replacement window, not to exceed $1,500 per unit, and a maximum grant contribution of 50 percent of the project. The bill provides that an association may receive grant funds for both roof-related and opening protection-related projects, but the maximum grant contribution is limited to $175,000 per association.