Margate City Commission Looks For Ways to Help Condominium Associations and Owners

Margate City Commission.

By Bryan Boggiano

The Margate City Commission may pass two resolutions urging Broward County and the State of Florida to help condominium associations and owners ahead of their recertification inspections.

The vote takes place at their Wed., August 23 meeting, beginning at 7 p.m.

The development follows the passage of Senate Bill 154 and its companion, House Bill 1395.

Under the new legislation, buildings that turned 25 years old by July 1, 2023, need their initial milestone inspection completed by December 30, 2024—those who are not 25 years old need to have their inspections completed by December 31, 2025.

According to the resolutions, reserve funds can be set aside for certain purposes, such as repairs. However, associations cannot approve a budget with no or less reserves than required unless there is an alternative funding method.

The first resolution requests the Broward County Commission to identify eligible funding sources for a low-interest loan program for condominium associations.

Economically vulnerable condominium owners living in their units full time who need structural repairs during their 25-year recertification or related recertification would also be eligible.

The resolution states that although the county’s funding sources are limited, they can collaborate with lending and financial institutions to assist their residents and those in need.

If passed, the city clerk would forward the resolution to the Broward County Commission, Florida League of Cities, Broward Delegation, condominium associations throughout Margate, other Broward municipalities, and other people in need.

The second resolution is similar but encourages the Florida Legislature to identify funding sources for condominium owners approaching their 25- and 30-year inspection and needing structural repairs.

According to this resolution, through a low-interest loan program, the state can set aside some of its projected surplus in the next three fiscal years for condominium associations and economically vulnerable condominium owners.

To qualify, owners must be in coastal cities, need emergency structural repairs during their 25-year recertification or other certification process, and not have funds to make repairs.

If passed, the resolution would go to the Speaker of the State House, Florida Senate President, Margate’s state legislators, Florida League of Cities, Broward League of Cities, other Broward municipalities, and other interested and eligible people.

Since the resolutions are part of the consent agenda, commissioners will not specifically discuss them unless one comments or pulls them.

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