FAIR (Florida Association for Insurance Reform) is seeking a low to moderate income condominium community to benefit from a Residential Construction Mitigation Program (RCMP) grant from the Florida Division of Emergency Management. The $194,000 grant will be used to supplement the cost of wind mitigation improvements that increase community safety and reduce insurance premiums and energy costs. Senior communities receive preference.
Funding must be used for a systemic approach to wind mitigation that involves the entire residential structure; for example, replacing roof coverings as well as installing wind-resistant windows and doors. Grant money will be awarded to residents with the most financial need. PACE (Property Assessed Clean Energy), grant assessments, or other financing, can be used to finance the balance of the project costs.
FAIR will use the grant-funded project as a case study to present options and strategies for wind mitigation, creating a blueprint for community associations throughout Florida on how to plan and execute similar wind mitigation projects using a combination of PACE financing, grant money, and other funds to finance the improvements. Actual insurance and energy savings will be documented to provide better guidance on cost benefits and payback periods.
If your condominium association is a senior (55+) and/or low to moderate income community in Florida and is interested in this grant funding, please contact FAIR at (754) 200-4538, mdeen@floridainsurancereform.org. The deadline is Monday, December 12, 2016.
Before applying for the grant, please be sure that your Board has a clear understanding as to whether there are any requirements for an owner vote for alterations to the roofs, windows, and doors. Contact your association attorney if you have any questions.
Originally posted on Florida Condo and HOA Law Blog