Florida
Florida Condo Owners Brace for New Inspection, Reserve Requirements
Rental house owners in Florida, already getting squeezed by rising insurance coverage prices, additionally may get hit quickly by increased month-to-month charges from new state laws on structural inspections and reserve funds.
Gov.
Ron DeSantis
in Could signed the legislation in response to the 2021 tragic collapse of Champlain Towers South in Surfside, Fla., that killed 98 folks. Below the brand new legislation, new structural inspections are required of most apartment buildings over 30 years outdated, or 25 years outdated if inside 3 miles of the coast.
Reviews of the inspections should be turned over to apartment house owners, apartment associations and native municipalities. If the inspections reveal main structural issues, native enforcement companies and apartment associations will decide the best way to transfer ahead with apartment residents having to foot the invoice.
Even when structural repairs aren’t wanted instantly, the invoice has different main provisions involving reserve necessities which may turn into an enormous monetary headache for a lot of apartment house owners.
In Florida it had been a typical follow for associations to easily waive their reserves 12 months after 12 months, in response to Suzanne Hollander, a real-estate lawyer and professor at Florida Worldwide College’s Hollo Faculty of Actual Property. Homeowners at Champlain Towers South postpone paying for repairs partly as a result of house owners fought over paying for them.
However below the brand new legislation, condos can now not waive reserves for constructing elements deemed vital to structural soundness. Many apartment associations must make up reserves waived in prior years and supply new reserves not beforehand required for sure structural points.
About two-thirds of buildings within the Miami space are older than 30 years. Many will in all probability go a visible inspection that received’t be too expensive. “If buildings have been doing common repairs, they shouldn’t have an issue,” stated Michael Liu, director of the Miami-Dade Division of Public Housing and Neighborhood Improvement.
However buildings which have deferred upkeep for many years may not go the visible inspection. In that case a extra in depth inspection could be required. The brand new legislation additionally offers native governments powers to penalize apartment associations that don’t tackle wanted repairs.
Restoring reserves as required by the brand new legislation may create a hardship for residents, particularly these on mounted incomes, Ms. Hollander stated. “This legislation is throwing a curveball to the retiree,” she added.
Condos are scrambling to adjust to these new laws at a time when insurance coverage charges are doubling and excessive rates of interest have put a pall on the gross sales market. Up till earlier this 12 months, the apartment market within the Miami space was booming.
Actual-estate attorneys, undertaking managers and builders count on these costs to lower subsequent 12 months as apartment house owners grapple with the elevated prices of possession. These results have began in sure submarkets, together with Miami Seashore and Surfside, the place the constructing collapse occurred.
Statistics aren’t obtainable for the variety of buildings that don’t meet the brand new reserve necessities. However real-estate companies estimate that it might vary into the 1000’s.
“The variety of buildings up and down the seashore which can be going to be hit by that is vital. It’s going to place folks in a extremely, actually tight spot,” stated Greg Most important-Baillie, government managing director of Colliers’s Actual Property Improvement division, who focuses on undertaking administration.
One of many condominiums he’s working with has a median evaluation of $125,000 per unit to cope with structural points. That constructing, at 500 models, is trying within the open marketplace for one massive mortgage to assist with renovations. One other constructing he’s serving to has condos priced at round $400,000 with particular assessments of $150,000. That constructing is requiring residents to fend for themselves and discover their very own particular person loans.
“Only a few apartment boards have an understanding of the impact of the brand new legislation over the following 24 months,” stated Mr. Most important-Baillie. “You’re going to see an exodus of oldsters, and worth results.”
Suzanne Stonbely, a resident on a set revenue who lives along with her 21-year-old daughter at Brickell Place Condominium, has already been hit with a $34,776 particular evaluation to renovate their pool, roof, parking deck and different structural parts of the constructing. In all, it provides as much as one other $414 a month for the following seven years, on prime of the $853 she pays in month-to-month upkeep charges.
“It’s truly unattainable to maintain our dwelling,” stated Ms. Stonbely, who canceled her insurance coverage as a result of she couldn’t afford it.
At a latest assembly, Ms. Stonbely and different residents had been knowledgeable that the reserves had been fully depleted. The quantity that she and fellow residents must pay to totally fund their reserves by the top of 2024 has but to be decided.
To assist provide some reduction, Miami-Dade County has earmarked about $9 million to supply zero curiosity loans to apartment house owners who make lower than 140% of space median revenue. To this point the county has solely seen about 50 purposes and is working to unfold the phrase about this system.
“We don’t know actually what number of of those buildings are going to be impacted in a approach that can trigger extreme burdens on the unit house owners,” stated Mr. Liu, who helped put this system collectively. “Hopefully it’s going to be in a minority of circumstances.”
Write to Deborah Acosta at deborah.acosta@wsj.com
Copyright ©2022 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Florida
In-Game Updates: Ole Miss Football Continues Playoff Quest vs. Florida in Gainesville
The No. 9 Ole Miss Rebels have reinserted themselves into the College Football Playoff conversation, but in order to remain there, they have to win their final two regular season games, beginning on Saturday against the Florida Gators.
The Rebels (8-2, 4-2 SEC) have won three straight games since their overtime loss to LSU in Baton Rouge on Oct. 12, and after a bye week that followed a huge win over the Georgia Bulldogs, Ole Miss appears to be as healthy as it’s been all season entering this game against the Gators.
Running back Logan Diggs (who looked like he might see his first action as a Rebel this week after suffering an ACL injury last season with LSU) will not suit up in this game, but wide receiver Tre Harris is returning, and the Ole Miss defensive line appears to have a clean bill of health, according to the latest injury report from the Southeastern Conference.
According to the current betting odds at FanDuel Sportsbook, Ole Miss is a 12.5-point favorite in Saturday’s game against Florida. Can the Rebels pull off the road win and remain in the CFP hunt? Follow along below for in-game updates from the contest in Gainesville set to kick off at 11 a.m. CT.
Game odds refresh periodically and are subject to change.
If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.
PREGAME
As noted above, Ole Miss is rather healthy entering this contest, outside of the running back position. Wide receiver Izaiah Hartrup and running backs Henry Parrish Jr., Logan Diggs and Rashad Amos are listed as “out” in this contest, but no other Rebel made the latest injury report. That’s a good sign for Lane Kiffin’s team as it enters a hostile road environment.
It was also announced on Thursday night that Ole Miss will be using one of its road uniform combinations for the third time this season: powder blue helmets, white jerseys and white pants. This particular combination with the new white jerseys has only been worn twice all-time (both of which resulted in wins during the 2024 campaign).
You can view the uniform below modeled by cornerback Trey Amos.
Florida
Who is Brady Singer? Reds’ new pitcher was Jonathan India’s Florida Gators teammate
Terry Francona joins the Reds as their new Manager
Terry Francona joins the Reds as their new Manager.
Brady Singer, the right-handed starting pitcher the Cincinnati Reds acquired Friday in a trade of Jonathan India and Joey Wiemer to the Kansas City Royals, was India’s teammate with the University of Florida Gators from 2016 to 2018.
Singer and India were separated by just 13 picks in the 2018 MLB draft, with the Reds selecting India fifth overall and the Royals taking Singer 18th.
Together they helped the Gators to the 2017 College World Series championship. Singer started and won two games in the CWS. India was a key contributor for the 2017 team despite an injury, and he earned SEC Player of the Year honors as a 2018 All-American, lifting Florida to a 2018 CWS win in an elimination game with an RBI single and three-run homer against Texas.
Singer was the Royals’ first-round pick in 2018.
The Baltimore Orioles’ Grayson Rodriguez (11th overall) and the Seattle Mariners’ Logan Gilbert (14th), among the top pitchers in the American League last season, were two of the players selected between India at fifth overall and Singer at 18th.
Later in the first round, the Royals also took Jackson Kowar, a Florida teammate of India and Singer, 33rd overall.
At Florida, Singer posted a 23-10 record and 3.22 ERA. In his final college season, Singer was named Baseball America National Player of the Year, and won the Dick Howser Trophy as the National Collegiate Baseball Writers Association’s top college baseball player.
Singer’s high school, Florida’s Eustis HS, produced another former Reds draft pick.
Catcher Chris Okey starred at Eustis, a couple of years before Singer. He played three seasons at Clemson before the Reds made him their second-round pick in the 2016 MLB draft. Okey had two hits in 13 plate appearances for the Reds in 2022.
Singer played at Tavares High School and transferred to Eustis before his senior season. He was drafted by the Toronto Blue Jays in the second round of the 2015 MLB draft, but opted instead to pitch for the Gators.
Singer pitched six shutout innings at GABP in the Royals’ win against the Reds in August.
Singer scattered five hits and walked one while striking out six in Kansas City’s 8-1 win. India had one of those five hits.
It was the only start out of 10 Singer made in August and September that he won.
Singer’s only other career start against the Reds came in July 2021. He allowed one run on five hits and a walk while striking out six over six innings in a no-decision. India walked and singled off of Singer.
Singer struck out the only batter he faced in the 2024 postseason.
In Game 3 of the American League Division Series against the New York Yankees, Singer entered a 2-2 game in the top of the 7th inning and struck out American League MVP Aaron Judge to end the inning.
One inning later, the Royals’ Kris Bubic gave up a solo home run to Giancarlo Stanton, which proved to be the difference in a 3-2 win.
Florida
ACC v FSU Update: 11 States Join Florida, File Brief To Protect Sovereign Immunity
More than 10 states have joined the State of Florida in an amicus brief to support its fight over state’s rights after a North Carolina judge ruled Florida State University (a public university) waived its “sovereign immunity” by voluntarily dealing with the Atlantic Coast Conference
READ MORE: Former FBS Coach With Ties To Mike Norvell Spotted At Florida State’s Practice
Earlier this year, Florida Attorney General Ashley Moody sued the ACC after it failed to provide the details of the Grant of Rights agreement between the Conference and ESPN, which has been one of the focal points of both lawsuits.
Mecklenburg County (North Carolina) Judge Louis A. Bledsoe ruled that Florida State waived its sovereign immunity by being a member of the Conference, making the secrecy of the agreement between the ACC and ESPN legitimate.
The ACC has since released the (heavily redacted) details of the Grant of Rights agreement.
AG Moody claims the agreement is public record under Florida law, but the ACC – and Mecklenburg County Judge Louis A. Bledsoe – disagrees.
AG Moody’s argument in the lawsuit is that it does not matter if Florida State does business with the ACC outside of state lines, all records – due to Florida law – are public records.
The states alongside Florida involved in the amicus brief supporting the FSU Board of Trustees include Alabama, Arkansas, Idaho, Kentucky, Louisiana, Mississippi, Ohio, Oklahoma, South Carolina, South Dakota, and Utah.
Part of the amicus brief states:
“Each of the fifty states enjoys immunity under the U.S. Constitution from lawsuits to which they have not consented. Embracing a long history of sovereign immunity, the Constitution requires a state’s consent before a federal court or another state’s court can exercise jurisdiction over that state. The States have an interest in preserving the rights secured to them and their constituent institutions by the U.S. Constitution, including the immunity of their public universities from suit in other states’ courts without the States’ clear and unequivocal consent.”
In short, the states believe the ruling from Judge Bledsoe – should it become precedent – threatens the authority of each individual state guaranteed by the Constitution.
It is uncertain how this brief will affect the ongoing competing lawsuits between FSU and the Atlantic Coast Conference, but it could result in the case being thrown out and solidify a precedent protecting state’s rights.
READ MORE: Kickoff Time, TV Info Announced For FSU’s Rivalry Game Against Florida Gators
Stick with NoleGameday for more FREE coverage of Florida State Football throughout the 2024 Season
• Could Florida State Debut Its Turquoise Uniforms This Weekend?
• FSU Assistant Coach Reportedly Interviews For Southern Miss Head Coach Opening
• FSU Head Coach Mike Norvell Provides Ideal Timeline For Coaching Hires
• Florida State Running Back Could Return For Season-Finale Against Florida Gators
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