HomeMy Public PortalAboutRES 09/01ARESOLUTION No. 009 -1 A
A RESOLUTION OF THE TOWN COMMISSION OF THE TOWN OF
GULF STREAM,PALM BEACH COUNTY, FLORIDA, SUPPORTING
AMENDMENTS TO THE FLORIDA STATUTES TO INCREASE
MORTGAGE HOLDERS' RESPONSIBILITY FOR DELINQUENT
CONDOMINIUM, CO- OPERATIVE, AND HOMEOWNER
ASSOCIATIONS FEES, REGULAR ASSESSMENTS AND SPECIAL
ASSESSMENTS ON UNITS IN FORECLOSURE AND ON
FORECLOSED UNITS; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, due to current economic conditions which
include a housing market crisis, South Florida, in
particular, is experiencing a significant increase in
foreclosure suits filed; and
WHEREAS, under present Florida law, mortgage holders
are only responsible for unpaid condominium association fees
that are the lesser of to of the original mortgage amount or
six months of unpaid maintenance fees and regular
assessments at the time of foreclosure; and
WHEREAS, under the foregoing formula, condominium
association fees often accumulate in excess of what the
mortgage holder is responsible for resulting in such fees
becoming the responsibility of the remaining association
members who must pay, in many cases, exorbitant special
assessments to cover the maintenance expenses and all
special assessments of the building, while units in
foreclosure proceedings and foreclosed units continue to
benefit at no additional expense to the mortgage holder; and
WHEREAS, in order to provide a disincentive for
mortgage lenders to delay foreclosure actions in order to
avoid the payment of escalating condominium fees, and to
fairly place responsibility on the party that has the most
to benefit from the continued receipt of maintenance
services on units in foreclosure proceedings and foreclosed
units, the Florida Statutes should be amended.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COMMISSION
OF THE TOWN OF GULF STREAM, FLORIDA, THAT:
Section 1. The Town Commission hereby supports
amendments to the Florida Statutes to increase mortgage
holders' responsibility for delinquent condominium, co-
operative, and homeowner association fees, regular
assessments and special assessments on units in foreclosure
and on foreclosed units.
Section 2. This Resolution shall take effect
immediately upon passage.
PASSED AND ADOPTED THIS
1
MAYOR
(SEAL)
ATTEST:
T-4 1,1,f L
2L
TOWN CLERK %
9th day of January , 2009.
Resolution No. 009 -1
CO M ISSIONER
COMMISSIONER
COM ISSIONER