THE COMMUNITY ASSOCIATIONS INSTITUTE (CAI) SUPPORTS THE NEW FEDERAL
Falls Church, Virginia, April 25, 2022 (GLOBE NEWSWIRE) — The Community Associations Institute (CAI) congratulates U.S. Representatives Charlie Crist (D-Fla.) and Debbie Wasserman Schultz (D-Fla.) on the introduction of the Securing Access to Financing for Exterior Repairs (SAFER) in Condos Act, legislation that will make it easier for condominium owners to pay special assessments for structural and security repairs. Homeowners could get low-interest loans to fund repairs through two programs backed by the US Department of Housing and Urban Development.
“Since the tragic condominium collapse in Surfside, Florida, CAI has worked closely with federal and state legislators to introduce critical legislation that supports condominium safety for the millions of people who call these communities home,” said said Thomas M. Skiba, CAE, CAI. chief executive officer. “We are pleased that Representatives Crist and Wasserman Shultz have introduced this impactful legislation that helps us honor the memory of the 98 people who lost their lives last June and will help prevent another tragedy. We hope the bill will move forward quickly.
According to the Foundation for Community Association Research, more than 74 million Americans live and work in community associations, commonly known as condominiums, homeowners associations, and housing cooperatives. Since the collapse of the Champlain Towers South condominium on June 24, CAI has been working on behalf of our 43,000 members with local, state and federal lawmakers as well as housing stakeholders nationwide to develop good direction for the security of condominiums.
In October, after months of research and member input, CAI recommended changes to laws and best practices for the Community Association Housing Model that could help communities and legislators better address building safety, security, and safety. building maintenance and structural integrity, and reserve studies and funding. The research and recommendations can be found in CAI’s Condominium Safety Public Policy Report.
Immediately after the collapse, Crist called for a full investigation into the tragedy. Additionally, as members of the influential House Appropriations Committee, Reps. Crist and Wasserman Schultz secured funding for the National Institute of Standards and Technology to investigate building collapses like the one that shattered. is produced at Surfside. Crist was also successful in getting his amendment authorizing a study of the Surfside collapse to be included in the America COMPETES Act passed by the House of Representatives.
“As Floridians remain focused on the safety and structural integrity of their condominiums, more owners are faced with unaffordable special appraisals. When associations need to make essential repairs to keep residents safe, the special assessments that fund the repairs can be a significant financial burden, especially for seniors on fixed incomes and working Floridians,” says Rep. Crist. “Our bill, the SAFER in Condos Act, would build on a Federal Housing Administration home improvement program to provide an affordable financing option so seniors and families can stay in their condos. safely and avoid another preventable disaster.”
“While we still mourn all those we lost at Surfside, the harsh reality is that countless aging condos, just like Champlain Towers South, could face similar structural safety issues. In the months and years to come, countless Florida residents may experience an unfolding tragedy, without even being aware of it or not having the tools to stop it,” says Rep. Wasserman Shultz. “This legislation led by Congressman Charlie Crist will take significant steps to help prevent that from happening again by helping condo owners more easily afford special appraisals when costly structural and safety repairs occur.”
| Context of the SAFER in Condos law
As condominium buildings age and deteriorate, the need for costly structural and security repairs increases. These unexpected fees in the form of special appraisals can put significant financial pressure on condo owners, especially seniors and those on fixed incomes. Following the collapse of the condo in Surfside, Florida, it was revealed that the Champlain Towers South condo association had approved a special appraisal of $15 million to cover the cost of repairs required as part of the process. recertification of Miami-Dade County buildings. The SAFER in Condos Act would expand the permitted uses of two US Department of Housing and Urban Development programs to cover special appraisals. Specifically, the legislation:
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>>Download the CAI Condominium Safety Public Policy Report.
About the Institute of Community Associations
Since 1973, the Community Associations Institute (CAI) has been the leading provider of resources and information for homeowners, volunteer board leaders, professional managers and business professionals in more than 355,000 homeowner associations, condominiums and housing cooperatives in the United States and millions of communities around the world. With more than 43,000 members, CAI works in partnership with 36 Legislative Action Committees and 63 affiliate chapters in the United States, Canada, South Africa and the United Arab Emirates, as well as with housing leaders in several other countries, including Australia, Spain and the United Kingdom. A global 501(c)(6) nonprofit organization, CAI is the leading authority on community association management, governance, education and advocacy. Our mission is to inspire professionalism, effective leadership and responsible citizenship, ideals reflected in community associations that are favorite places to call home. Visit us at www.caionline.org and follow us on Twitter and Facebook @CAISOcial.