'It's become sort of a nightmare': State launches My Safe Fla Condo program to help condo owners

Update: On the same day as this story was published, the My Safe Florida Condo Pilot Program said it's no longer accepting applications for the current funding, less than one week since the program's launch.

Florida has launched the "My Safe Florida Condo" pilot program hoping to combat the state's insurance crisis that is now coupled with crippling HOA fees for condo owners.

It's a program that St. Pete condo owner Cindy Erickson hopes will help people dealing with the dueling crises. She emailed me talking about the condo crisis in the state.

"I just felt like it's time, it's time to speak up," Erickson said. "And we definitely need your help."

Erickson lives in a building run by it's own Condo Association within the Five Towns condo complex in St. Petersburg. She says her building houses mostly women, some widowed, and many are on a single income. Erickson and her neighbor Fran Sullivan said they are being crushed by the new costs for condo owners.

Both said as insurance costs continue to rise, new state reforms passed following the Surfside condo collapse in 2021 are driving HOA fees to basically a second mortgage.

"They were about $450 when I moved in. Next year, they're going up to a little over $900," Sullivan said.

It's been enough for Erickson to reevaluate everything.

"It was our dream to live in Florida. It's become sort of a nightmare for us," Cindy said.

Florida CFO Jimmy Patronis said the new program, which allocates $30 million dollars, is a test to see if "they can move the needle." Under the My Safe Florida Condo program, each HOA can apply for up to $175,000 in state grant money.

"So this is where the state is saying, 'Hey, let's give you some incentive. Let's help you with our own dollars, make your place a little tougher, more resilient, and we'll work together on bringing your insurance costs down,'" Patronis said.

But, if you do the math, less than 160 condo associations could benefit from the program.

"We are actually through the process of the board approving, applying for this grant, and so we are on top of that," Erickson said. "However, when you look at the numbers, it's a little bit disappointing."

For his part, Governor DeSantis has pressured state lawmakers to reverse some of the Surfside reforms that must be completed by December 31.

In the case of Erickson and Sullivan's condos, it would add another $20,000 per unit in special assessments to fund new balconies and a new roof.

Both are hoping with new Legislative leadership now in Tallahassee, a possible special session could be called to help with the costs. So far, leadership hasn't shown any appetite for a special session, which leaves many condo owners facing an unknown future.