HB 393 "My Safe Florida Condominium Pilot Program" Summary

Florida Launches New Hurricane Grant Program for Condos: A Guide to HB 393

Florida has recently passed House Bill 393, a new law that establishes the "My Safe Florida Condominium Pilot Program." This initiative is designed to help condominium associations strengthen their buildings against hurricanes by providing financial grants for critical mitigation improvements. If your association is looking to improve safety and potentially lower insurance costs, here's what you need to know about this new program.

Key Highlights of HB 393:

1. Who is Eligible? The program is specifically targeted at condominium buildings that are three or more stories high. Importantly, an association cannot apply for a grant unless it is already in compliance with Florida's mandatory milestone inspection and structural integrity reserve study (SIRS) requirements. This ensures that buildings are addressing their foundational structural needs before applying for mitigation grants.

2. What Do the Grants Cover? The grants are intended for specific hurricane mitigation projects that are recommended in a hurricane mitigation inspection report. The primary goal is to fund improvements that will result in a mitigation credit, discount, or other rate reduction on the association's insurance policy.

Grant funds can be used for:

• Opening Protection: Strengthening or replacing exterior doors, garage doors, windows, and skylights.
• Roof Improvements: This includes reinforcing roof-to-wall connections, improving the strength of the roof-deck attachment, adding a secondary water barrier, and replacing the roof covering.

3. How the Funding Works The program is structured as a matching grant system to help associations afford these crucial upgrades.

• State Match: The state will provide $2 for every $1 contributed by the association.
• Grant Cap: The maximum total grant award is capped at $175,000 per association.

4. The Approval Process To participate in the program, an association must first get approval.

• Association Approval: The association's board of administration or a majority of the total voting interests must vote to participate in the pilot program.
• Unit Owner Approval for Unit Improvements: For grants that will be used to improve individual units (such as replacing windows or exterior doors), the association must receive approval from at least 75% of the unit owners who reside within the specific building being upgraded.

This new legislation provides a significant opportunity for eligible condominium associations to make their properties safer and more resilient to hurricanes. By investing in these mitigation efforts, associations can not only protect their buildings but also work towards reducing their insurance premiums.