This course will address how aged infrastructure, insurance costs, maintenance costs, budgeting and reserve requirements, and real estate values have caused incremental changes in the Condominium Act and in attitudes towards making condominium termination more available. The course will include discussion aimed at setting practical expectations as to when and how a condominium termination might arise. The course will also cover how governing documents influence termination options and how amendments addressing condominium termination may be beneficial.

Participant Objectives:

• Learn how the Florida condominium building boom of the 1960s through the 1980s has set the stage for a wave of redevelopment.
  Learn how routine and compulsory inspections, maintenance requirements, reserve and budgeting obligations, and insurance availability can tip the scales in favor of condominium termination and redevelopment.

• Learn about the important changes to Fla. Stat. §718.117 from pre-2007 to the present and also how governing documents still remain very significant in condominium terminations.

• Learn about why waiting or holding out too long before terminating an aged condominium can present problems.

• Learn how new ideas are being circulated to try to make it possible for condominium associations to interface with the redevelopment market.

• Learn about how attitudes in response to SB4D are influencing termination discussions.