The Florida Division of Florida Condominiums, Cooperatives and Timeshares has posted the form (which they have titled Building Report) which must be submitted by all Florida condominiums and cooperative associations with buildings that are three stories or higher.
This information must be submitted ON OR BEFORE January 1, 2023.
This program is not eligible for CEU credit or certificate of completion.
SB 4D includes significant obligations relating to building inspections and reserve funding and boards are required to comply with the 2022 law by the statutory deadlines. Yet SB 4D is somewhat complicated and will need to be studied, digested and fully understood.
Join Becker attorneys, Donna DiMaggio Berger, Steven Mezer, and Robert Caves for a panel discussion that will address these nuanced issues and answer directors’ and managers’ questions including:
- We had an engineering report performed in the last two years. Will this count as our milestone inspection?
- Can members still waive reserves for painting and paving?
- Can we no longer have pooled reserves?
- What if the reserve company we have doesn’t have an engineer or architect on staff?
- We have a monetary cap in our governing documents on how much we can increase our budget. What now?
- What if all these costs increase our assessments by more than 15% of the prior year’s assessments?
- What if our members simply cannot pay to fund these new reserves or the repairs outlined in the Milestone Inspection?
- What are the potential penalties under this 2022 law for being in breach of one’s fiduciary duties?
This is the first in a series of programs Becker will host on this important topic. We will break it down into several components and bring in the foremost industry experts to help associations comply with the 2022 law by the statutory deadlines.
Donna DiMaggio Berger
Steven H. Mezer
James Robert Caves, III