TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: August 23, 2023
Title
RESOLUTION - URGING THE FLORIDA LEGISLATURE TO EXPLORE AVAILABLE FUNDING SOURCES AND THE FEASIBILITY OF CREATING A SPECIAL ASSESSMENT FUNDED LOW INTEREST LOAN PROGRAM IN COLLABORATION WITH PARTICIPATING LENDING AND FINANCIAL INSTITUTIONS TO PROVIDE FINANCIAL ASSISTANCE TO CERTAIN EMERGENCY AND NEED-BASED CONDOMINIUM ASSOCIATIONS AND OWNERS REQUIRING EMERGENCY STRUCTURAL REPAIRS AS A RESULT OF A 25- YEAR RECERTIFICATION INSPECTION OR AN EQUIVALENT RECERTIFICATION PROCESS IN SUBSTANTIAL ACCORDANCE WITH FLORIDA SENATE BILL (SB) 154 (CHAPTER LAW 2023-203) AND SUBSEQUENT RECERTIFICATION PROCESSES; PROVIDING FOR THE ADOPTION OF RECITALS; PROVIDING FOR INSTRUCTIONS TO THE CITY CLERK; PROVIDING FOR AN EFFECTIVE DATE.
BACKGROUND: This Resolution is requesting that the Florida Legislature identify an eligible funding source or funding sources, includes those that are specifically for housing, that can be utilized to create a low interest loan program for condominium associations and/or economically vulnerable condominium owners within Broward County (the "County") living in their condominiums full-time that are found to be in need of emergency structural repairs at the time of their 25- year recertification inspection and which do have the funds necessary to make such repairs.
RECOMMENDATION: For approval.
FISCAL IMPACT: None
CONTACT PERSON: Cale Curtis, City Manager