https://news.yahoo.com/surfside-collapse-aging-condos-called-202238005.html
Mentions me and some of the other things that are being said on this issue.
Wednesday, July 07, 2021
Are Chicago condos safe from structural failure?
https://news.wttw.com/2021/07/06/after-florida-collapse-look-condo-building-safety-chicago
This is a panel discussion on the state of play for Chicago condos. I am one of the three guests.
Climate change could cost condos billions--and they aren't ready for it.
This is the piece by me that has attracted quite a bit of attention. It's great that the news media are covering the issue of condo associations and the challenges they face with property maintenance, but it's awful that it took this tragedy to make that happen. I hope state and federal legislators enact laws that put in place the right kind of oversight. I will writing more about that but it would include:
1. Making developers establish large reserve funds and set assessments at the proper level, as determined by independent experts on reserve requirements.
2. Mandatory reserve studies and updates every three years.
3. Publishing reserve studies on a government web site
4. Publishing on government and industry web sites of a rating -- what percent funded is the association's reserve account, when compared with the reserve study.
5. Free training for all association members, directors, and officers--at public expense.
This is a start. There is more that I will talk about later.
Bloomberg Businessweek: Aging condos are a ticking time bomb
This article has some quotes by me and also one of the best international scholars on this subject, Prof. Amnon Lehavi of IDC Herzliya Law School in Israel.
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