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Solving Miami Condo Special Assessment Woes: A Look at the New Assistance Program

Updated: Apr 6, 2023

Are you a condominium owner in Miami-Dade County struggling to cover the cost of special assessments for necessary building repairs? Look no further than the Condominium Special Assessment Program, a new initiative to provide financial assistance to eligible condo owners. The program has been created to specifically address the needs of those requiring rehabilitation and repairs due to building integrity recertification requirements. Read on to discover how this program works and if you may qualify for its benefits.

In this article:

About the program

Miami-Dade County has recently introduced a program to assist owner-occupied condominium homeowners with limited finances in addressing special assessment requirements associated with rehabilitation and repairs as a result of applicable building integrity recertification requirements. The program is funded by surtax funds and is designed to provide loans to families and individual homeowners. The loan amount is up to $50,000.00 with a repayment term of 40 years. However, investment owners are not eligible for program assistance.

The program will assist with physical damage to the condominium and is available to Condominium Properties throughout the County. To be eligible for the program, the homeowner must reside in the unit and be their primary residence and homestead. Additionally, the monthly payment will be $50.00 for low-income families, with the remaining balance due at the Maturity Date. The monthly payment for moderate-income families will be calculated at 0.00% interest rate for 40 years.

It is worth noting that any cash assets exceeding $50,000.00 must be used for a down payment of up to 10% of the loan amount. Moreover, the loan balance becomes due and payable if the owner sells the property, cash out refinance, or ceases to use the home as their primary residence. Similarly, upon the death of the owner, the loan shall become due and payable in full unless ownership of the property passes to the heirs of the owner and those heirs meet the following criteria:

  1. Live in the property.

  2. Earn no more than the maximum percentage of AMI funding activity at the time of transfer.

  3. Execute appropriate documents as required by Miami-Dade County.

The rehabilitation funds will be payable to the Condominium Association. The Condominium Budget and Condo Questioner will be required and reviewed. Mortgage payments and HOA/Maintenance fees must be current, and a description of the work to be done and the Scope of Work will be required to determine the loan's assistance. Additionally, semi-annual reports from the Condominium Association will be required.

How to qualify

To qualify for this assistance, you must own a condominium in Miami-Dade County and have an income that is less than 140% of the area median income (AMI). If you meet these requirements, you may be eligible to receive up to $50,000 in assistance to cover special assessment costs.

Here are the income limits for this program:

  • Individuals earning less than $95,620

  • Couples making less than $109,200

  • Three-person households earning less than $122,920

  • Households of four making less than $136,500





































The median income in Miami-Dade County is $68,300

What condo owners need to provide

When applying for special assessment assistance in Miami-Dade, there are several required documents that you will need to provide to be considered. These documents include the following:

  1. Valid Florida driver's license or State ID card for adults

  2. Warranty Deed, Quit Claim Deed or other evidence of ownership of the property

  3. Last four paystubs, unemployment compensation, valid social security award letter, and evidence of pensions, child support/alimony payments; if applicable

  4. Copy of social security cards for applicant and co-applicant only

  5. Proof of US citizenship or current permanent legal residency

  6. Most current three months' bank statements for all accounts; must reflect monthly balances

  7. Mortgage payment must be current, and provide a copy of the current mortgage statement. (No Coupons accepted) Copy of current HOA Fees

  8. Birth certificates for all household members, regardless of age. No birth cards accepted

  9. Last 2 years' Federal Income Tax Returns, including W-2s, all pages, and schedules

  10. Current SSA-1099 form

  11. Proof of hazard insurance, flood insurance; if applicable

  12. Copy of last utility bills (electric and water bill)

  13. Copy of Discharged Bankruptcy, including all schedules and pages; if applicable

  14. Divorce Decree and/or Death Certificate; if applicable

By providing these required documents, you can ensure that your application for Miami's special assessment assistance is processed quickly and accurately.

About the loan terms

The loan terms for the Condominium Special Assessment Program are as follows:

  • The loan amount is up to $50,000, with a repayment term of 40 years.

  • Low-income families (below 80% AMI) may pay a monthly installment of $50, with the remaining balance due at the Maturity Date.

  • Moderate-income families (above 80% AMI) will have their monthly payment calculated at a 0% interest rate for 40 years.

  • Any cash assets exceeding $50,000 must be used for a down payment, which can be up to 10% of the loan amount.

These loan terms are designed to mitigate the financial burden on families while ensuring compliance with the program's guidelines. It is important to note that failure to adhere to the loan terms may result in penalties. The terms of the loan may be different for different cases. Don't hesitate to contact Shawn Topps at 786-469-2209 for information regarding the loan process and terms.

How to apply

If you believe that you qualify for the Condominium Special Assessment Program and would like to apply, here is how you can get started:

  1. Gather all required documents: Before applying for the program, ensure you have all the documents outlined in the previous section.

  2. Download the application

  3. Submit your application: Applications are processed in the order they are received. Please complete the forms and mail them or deliver them in person to 701 NW 1st Court, 16th Floor, Miami, FL 33136. E-mailed applications aren't accepted.


This program will be especially beneficial to those who need help to afford the cost of special assessments in Miami condos. Therefore, if you are a homeowner and require assistance, it is advised that you refer to the Miami-Dade County website for the most up to date information about the program's details and how to apply for it.

For more information regarding the program, please get in touch with PHCD Shawn Topps at 786-469-2209.


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