Federal Disaster Assistance for Condominium Associations and Cooperatives May be on the Horizon

In the wake of Hurricane Sandy, many communities throughout the tri-state area suffered severe and catastrophic damage. Community associations, much similar to single family homeowners, turned to the Federal Emergency Management Agency (FEMA) for financial assistance, only to be turned away. Surprisingly, federal law does not currently permit FEMA to provide financial assistance directly to cooperatives, condominiums or homeowners associations to repair essential common elements    Read more…….

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