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While the crisis looms large, Florida lawmakers are beginning to discuss potential assistance strategies for condo owners. Proposed initiatives include low-interest loans to cover assessment costs, extensions for payment plans to ease immediate financial stress, and perhaps even exemptions for buildings below certain heights. Miami has already initiated a program designed to assist low-income, owner-occupied condominiums, providing zero-interest loans up to $50,000 to help bear assessment costs.
In addition, new legislative proposals seek to impose stricter penalties on condo associations that fail to complete required inspections by certain deadlines. A renewed focus on safety measures underscores the urgent need for accountability within condominium governance.