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Sponsor Proposes Study of Condominium Reserve Shortfalls After Local Presidents and Condo Owners Flag Aging Buildings
Summary
Delegate Rosenberg proposed study language to evaluate condominium reserve shortfalls and household vulnerability after local condo owners described heavy special assessments and low reserve funds; affordable housing and aging advocates supported a study before pursuing a dedicated fund.
Delegate Del. Rosemary Rosenberg (transcript label: Rosenberg) introduced a bill proposing a state response to insufficient condominium reserve accounts after testimony about older condominium buildings that face special assessments owners cannot afford. Rosenberg said many older condo owners are fixed‑income seniors who cannot cover large assessments and argued the…
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