Underfunded Reserves? How your Condominium Association Can Qualify for a Community Association Loan (MI)

/ Owner - May 2, 2023

Nearly 2 years after the Surfside collapse, the New York Times recently reported that a 35-unit condominium in North Bay Village, Florida was ordered to be evacuated after an engineer deemed the condominium to be structurally unsound. The engineering report provided to North Bay Village officials indicated that the Majestic Isle Condominium had serious structural issues due to termites and sagging floors. The evacuation of the Majestic Isle Condominium, which was built in 1960, is not the only safety-related evacuation since the Surfside collapse, as multiple other older condominiums that have not been properly maintained have been subject to evacuation orders as well.   Read the article………………………..

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