Funding Options for Roof, Painting, and Parking Lot Maintenance
This notice follows the discussion at the Monthly Meeting on Saturday, March 9, 2024, regarding funding for necessary property maintenance projects: roof repairs, painting, and parking lot improvements.
The Board has explored several options to cover these costs:
Assessment: Each owner would contribute $4,390.00. Further details on payment methods and timelines will be determined.
City of Sunrise Grants: Applications are due by April 1, 2024. Individual owners will need to apply online and provide the required information to qualify. Applications can be submitted to https://www.sunrisefl.gov/departments-services/finance-administrative-services/grants/grant-programs. The Association will assist owners without computers to complete the application. Important Note: If approved for a grant and you decide to sell your property before the grant period ends, you will be responsible for repaying the grant amount.
Federal Grant: The Board can apply for a grant with a deadline of July 1, 2024. This grant offers up to $850,000.00, covering 98% of the project costs. Important Restriction: If this grant is awarded, no property owner will be allowed to sell their unit for 5 years.