Florida Legislators Endorse Expansion of Wind-Mitigation Program
An expanded measure named “My Safe Florida Home” has received approval from Florida’s lawmakers, opening up avenues for a broader range of residents, from both high and low-income groups, to qualify for grants aimed at fortifying their homes.
This development has materialized through the endorsement of House Bill 881, which, once enacted into law, will elevate the maximum wind-mitigation grant available for financially constrained homeowners in Florida from $5,000 to $10,000, aligning it with the aid accessible to more prosperous citizens. In addition, the bill will accommodate mitigation financing for residences insured up to $700,000, a substantial increase from the previous cap of $500,000. Garnering unanimous approval in the Florida House of Representatives and state Senate, the bill awaits enactment.
Florida’s chief financial officer, Jimmy Patronis, conveyed his support for the bill, emphasizing its timely arrival with the 2023 hurricane season looming. He noted the potential of the ‘My Safe Florida Home’ program to safeguard homes from damage and alleviate insurance costs for Floridians. A proposal for an additional $100 million funding allocation for the program in the 2023-2024 state budget is on Patronis’s agenda.
The program, initially introduced in 2006, was subsequently abandoned due to controversies and burgeoning waiting lists. It was resurrected in 2022, aided by a one-time appropriation of $150 million by lawmakers. The program grants assist in the procurement of storm shutters, sturdier roof-to-frame connectors, and fortified roofing systems.
HB 881 mandates that prior to sanctioning the home improvements, free assessments must be conducted by trained evaluators. The new legislation aims to remove geographic restrictions on the program, making it accessible to homes across the state and not merely those in designated wind-borne debris areas.
Under the revised program, low-income citizens, whose annual income is less than 80% of the state’s median income, will be eligible for grants up to $10,000, a marked improvement from the previous $5,000 limit. However, homeowners will be required to match the grants, contributing $1 for every $2 received from the program.
Despite past criticisms of the program’s sluggish implementation, between May 2022 and February 2023, the program completed 16,724 mitigation inspections and approved 2,979 grant applications. Sales-tax exemptions have also been extended until June 2024 for materials used in home reinforcement.
While the Department of Financial Services has not provided explicit data on how these retrofitting initiatives might affect homeowner insurance premiums, examples suggest significant potential savings. For instance, a Pensacola home saw its annual insurance premium plunge from roughly $6,600 to approximately $2,500 post-mitigation work in 2007.
Other Southeast states have also initiated similar schemes in recent years. Alabama’s Safe Alabama Homes program, launched in 2011, has facilitated retrofitting for approximately 6,000 homes, and North Carolina’s Strengthen Your Roof grant program has also assisted thousands of homes since 2019.
