Florida Governor Ron DeSantis on Monday signed laws aimed toward easing monetary burdens tied to condominium security mandates enacted after the deadly 2021 collapse of the Champlain Towers South constructing in Surfside, which killed 98 individuals.
Talking at a press convention in Clearwater, DeSantis acknowledged rising concern over how the protection legal guidelines had been affecting apartment house owners.
“There have been loads of people that had loads of considerations about how a few of these assessments had been being finished, whether or not individuals might even afford to even keep of their items,” he stated.
The newly signed measure, Home Invoice 913, handed unanimously within the Home and Senate earlier this 12 months. It seeks to strike a steadiness between security and affordability after many apartment associations complained that earlier legal guidelines, although “effectively intentioned,” had been resulting in skyrocketing prices.
The laws extends by one 12 months — to the top of 2025 — the deadline for finishing structural integrity reserve research, that are used to find out how a lot cash should be put aside for future main repairs. It additionally permits for a brief pause in reserve funding for as much as two years following a milestone inspection and offers associations higher flexibility in assembly reserve necessities.
To assist fund repairs, the invoice permits associations to make use of strains of credit score or loans to fulfill reserve obligations, with majority approval from unit house owners.
The security legal guidelines enacted in 2022, and later up to date in 2023, launched strict necessities corresponding to milestone inspections for growing older buildings three tales or larger. Some apartment associations imposed giant assessments on house owners with a view to meet looming deadlines.
DeSantis, who made revising the apartment security legal guidelines a legislative precedence this 12 months, stated affordability wanted to be a part of the dialogue transferring ahead.
On Monday, the governor additionally signed a separate measure, Home Invoice 393, revising the My Protected Florida Condominium Pilot Program, which offers grants to assist hurricane-proof buildings.
Underneath the modifications, the variety of unit house owners required to use for a grant will drop from 100% to 75%. The invoice additionally clarifies that associations should match $1 for each $2 acquired in state grant funds.
Each legal guidelines will take impact on July 1.
