Florida Condo Owners in Race Against Time Before Hurricane Season

Condo owners in Florida will be able to apply for funding as part of their associations to upgrade their buildings and mitigate storm damage ahead of what's expected to be an above-normal hurricane season this year.

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Eligible condo associations will be able to tap into $30 million in grant funding as of July 1 under the My Safe Florida Condominium Pilot Program, which was established by the House Bill 1029 approved by the Florida legislature in April.

The program offers condo associations hurricane mitigation inspections, which would help owners figure out how to reduce a property's vulnerability to storm damage, and mitigation grants that can be used to harden the property against hurricanes.

For every $1 spent by the condo association, the state will give back $2; it will also cover up to half the cost of roof-related projects and give up to $1,500 per unit for doors and windows. Each condo association will get a maximum grant of $175,000.

"This bill will incentivize property owners to make their buildings more resilient and safer for residents," Florida state Senator Nick DiCeglie, a Republican and Trump supporter who sponsored HB1029, wrote on X, formerly Twitter.

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Newsweek contacted DiCeglie's office for comment by phone early on Monday and left a message.

The program comes as the National Oceanic and Atmospheric Administration (NOAA) announced earlier this month that this year's Atlantic hurricane season will be particularly active—and potentially very bad for vulnerable states like Florida.

In its 2024 Atlantic hurricane season outlook, NOAA predicted an 85 percent chance of an above-normal season this year, forecasting a range of 17 to 25 total named storms, of which eight to 13 are expected to become hurricanes. Between four and seven of these could be major hurricanes of category 3, 4 or 5.

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"Hurricane season predictions are calling above average storm activity. That is not a good prediction for the insurance markets in any hurricane exposed state," Charles Nyce, department chair and a Dr. William T. Hold associate professor of risk management and insurance at Florida State University, told Newsweek.

"If and where they make landfall matters, and hopefully we can avoid significant storm losses," he added. While Nyce stressed that it's not yet known how many of the hurricanes expected by NOAA will make landfall in the country, he said that he "fully" expects "to see a landfalling storm in Florida this year."

A devastating hurricane season could destabilize the fragile Florida insurance market, which is already undergoing a crisis that has left the state's homeowners scrambling to get coverage and paying skyrocketing premiums.

"While we have had some new company formation and entry into the marketplace, the existing insurers are still suffering the ramifications of serious past losses," Nyce said.

"Some of those insurers are still in a fragile condition and severe storm losses may cause future reductions in writings or an insolvency or two. "

But while the funding offered under the My Safe Florida Condominium Pilot Program is particularly needed, condo owners are still scrambling for more information about how to apply to it.

Bay News 9 reporter Angie Angers wrote on X that, "With limited info, condo owners have been trying to figure out how to tap into the My Safe Florida condo program." She added that "many fear that [funding] will run out fast and want hardening upgrades done to reduce insurance costs."

The program's website states that "application details are being developed. As the program details are developed, we will post updates throughout the development stages." According to the website, the program applications will not be publicly available for use until fall.

This year's hurricane season officially started on Saturday, June 1.