Florida Capital
Gov. DeSantis signed into law this week a new Florida law aimed at improving the resilience of coastal condominiums.
The My Safe Florida Homes Condominium Pilot Program, initiated by Representatives Vicki Lopez (R-Miami) and Christine Hunschofsky (D-Parkland), will commence on July 1, 2024.
The legislation, known as HB 1029, will establish a pilot program within the existing My Safe Florida Homes Program. It is designed to support condominium associations through mitigation inspections and resilience grants, focusing primarily on properties within 15 miles of the coastline. The state has allocated $30 million for the program.
The legislation came out of the town halls Hunschofsky hosted with Lopez last year.
“The idea behind the program is simple: if we have a successful program for homeowners, why not extend it to include condominium residents? This program will help condominium associations with the cost of hardening their buildings in order to help lower their insurance premiums. It is an investment in safer buildings and communities,” said Hunschofsky.
The Department of Financial Services will oversee the program’s implementation, including the creation of the application process and necessary regulations.
Hunschofsky’s district includes Coconut Creek, Parkland, Margate, and a portion of Coral Springs.
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