Vote NO on Super Majority Amendment

The Sarasota Association of Realtors opposes the super majority amendment for the following reasons:

The super majority amendment clashes with America's founding principles of representative democracy, which is to conduct the will of the majority (not the super majority), while protecting the rights of the minority.

The super majority places too much power in the hands of one or two elected officials. They can use the super majority to stop ideas and plans that benefit the entire community.

Our economy and employers are dependent on our workforce. This proposal would arguably push that workforce farther from the site of employment, creating more sprawl, higher home prices, and less viable public transit options and more traffic congestion.

With the super majority amendment it will be almost impossible to receive approval for developments or projects that will benefit our economy. The super majority amendment will hurt our economy and our local business owners.

Please vote NO on Super Majority Amendment.

CONDOMINIUM INSURANCE

Florida Condo Owners Consider Self-Insurance

Some Florida condominium owners are turning to self-insurance to avoid high rates.The Palm Beach Windstorm Self Insurance Fund is seeking state regulatory approval to insure 50 condominium buildings in Palm Beach County.The fund will operate as a nonprofit, mutual company. It will collect premiums from the condo owners, hold them in reserve and use them to buy reinsurance. The mutual company’s rates will be about 25 percent less than those of the state insurer of last resort, Citizens Property Insurance Corp.The fund will insure only condos at the lowest risk of major damage: buildings of concrete and steel. Condos also will have to agree to a 5 percent deductible.

In other parts of the state, the Continental Group, which manages 1,200 Florida buildings, has also developed a self-insurance fund and is hoping to launch soon.

Source: The Palm Beach Post, Randy Diamond (10/11/2007)