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RE: LeoThread 2025-03-16 19:23

in LeoFinance7 days ago

Part 3/8:

The roots of this crisis can be traced back to the tragic collapse of the Champlain Towers South in Miami in 2021, which claimed the lives of 93 individuals. In response, state lawmakers introduced stringent requirements for condo inspections, mandating that buildings three stories or taller, particularly those older than 30 years (or 25 years if located within three miles of a coastline), undergo rigorous Milestone inspections and structural integrity reserve studies by December 31, 2024. The deadline has sparked panic among condo associations as they scramble to comply with these regulations.

Compliance Issues and Financial Burdens