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Month: April 2022

Proposed federal condo act would help owners fund vital structural repairs

Proposed federal condo act would help owners fund vital structural repairs

A new bill in Congress would make it easier for condominium owners to afford special assessments for vital structural and safety repairs in their buildings. Triggered by the tragic collapse of the Champlain Towers South condo in Surfside, the bill, sponsored by U.S. Reps. Debbie Wasserman Shultz and Charlie Crist, would allow owners to obtain low-interest loans to fund repairs through two programs guaranteed by the U.S. Department of Housing and Urban Development.