Florida lawmakers have advanced a measure providing relief to condominium owners facing financial strain from strict safety regulations imposed after a deadly collapse. Following the Surfside tragedy, a law mandated that older buildings undergo regular inspections and fully fund repair reserves, leading to significant resident distress as costs soared. Lawmakers, responding to public outcry, have agreed on a compromise bill to extend compliance deadlines and allow associations to access loans for necessary repairs, aiming to balance safety and affordability.
The bill, which now goes to governor for a signature, pushes back the deadline for completing a structural integrity inspection and allows condo associations a two-year grace period in fully funding reserves.
We have tried to reach that delicate balance between the safety of our constituents as well as understanding the incredible financial impact that sometimes these particular bills that we passed have.
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