F. Commissioner Item
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
ADD - ON
Meeting Date: Tues., March 21, 2006
Division: BOCC
Bulk Item: Yes
No XX
Department: Commissioner David Rice, District 4
Staff Contact Person: Tamara Lundstrom
AGENDA ITEM WORDING: Approve Resolution setting forth recommendations to include in
proposed legislation on windstorm insurance rates, provisions to protect affordable rental
housing (non-homesteaded) properties.
ITEM BACKGROUND: Legislation has recently been introduced into the State Senate and
House of Representatives to provide protections to homesteaded properties against huge
windstorm premium increases. The critical shortage of affordable rental housing will be further
impacted by the legislation, resulting in even higher residential rental rates, unless this segment
of housing is also protected.
PREVIOUS RELEVANT BOCC ACTION:
CONTRACT/AGREEMENT CHANGES:
STAFF RECOMMENDA TIONS:
TOTAL COST:
BUDGETED: Yes
No
COST TO COUNTY:
SOURCE OF FUNDS:
REVENUE PRODUCING: Yes
No
AMOUNTPERMONTH_ Year
APPROVED BY: County Atty _ OMB/Purchasing _ Risk Management_
DIVISION DIRECTOR APPROVAL:
1)aoid ;Y. !Rice
(David P. Rice, Commissioner)
DOCUMENTATION:
Included XX
Not Required_
DISPOSITION:
AGENDA ITEM #
F.
Revised 2/05
Coll'l.DU8aioaerRice
RESOLUTION NO.
A RESOLUTION OF THB BOARD OF COUNTY
COMIQSSIONE1tS OF MONROE COUNTY SETTING FORTH
RECOMMENDATIONS TO INCLUDE IN PROPOSED
LEGISLATION ON WJNDSTORMll($UUNCE RATES
PROVISIONS TO PRO't~T AFFORDABLE RENTAL HOUSING
(NON-HOMESTEADED) PROPERTIES.
WHEREAS, legislation has recently been introduced into the State
Senate and House of Representatives to provide protection to homesteaded
properties against huge windstorm premium increases; and
WHEREAs, the legislation proposes to restructure Citizens to remove the
subsidy from any properties other than primary residences of Florida residents;
and
WHEREAS, the legislation proposes to retain the three existing Citizens
accounts (commercial- residential, persona1lines, and high-risk), but limit
eligibility for coverage under these accounts (single family homes, condo units,
and certain condo associations) to those qualified as homestead property as
defined by law, and condominium association policies only if at least 50% of
the units in the association are qualified as homesteads; and
WHEREAS, the legislation proposes to retain existing requirements for
Citizens rates and to add a provision stating that rates vllill be deemed to be
inadequate if they are not sufficient to generate the funding (through cash flow,
interest earnings, Cat Fund coverage, private reinsurance, and other funds) to
enable Citizens to sustain a 50-year Probable Maximum Loss event in any year
without creating a deficit in any Citizens account covering homestead property;
and
WHEREAS, the legislation proposes to create a ne\v Citizens
account for non-homestead properties for windstorm-only policies
(residential, commercial-residential, and commercial-commercial) in the
Citizens high-risk area for full personal lines residtmtial policies in the
rest of the state; and
WHEREAS, there is an affordable housing crisis in the State in
general, and especially in the Florida Keys, and a shortage of affordable
rental housing, and any increase in \vindstorm premiums no doubt will
be passed-on by landlords to their tenants resulting in even higher
residential rental rates;
Protect Affordable Rental housing/Windstorm 1
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF MONROE COUNTY, that:
1. The Board of County Commissioner$ requests that the Florid~
.l"eglslaLure reVise the proposed legislation WhiCh IS proposed to protect
homesteaded properties from huge increases in windstorm insurance
premiums to also provide for affordable rental housing to be treated the same
as homesteaded properties.
2. The Clerk shall send a copy of this resolution to the Honorable Jeb Bush,
the Honorable Charlie Crist, the Honorable Tom Gallagher, the Honorable
Charles H. Bronson, State Senators Larcenia Bullard and Rudy Garcia, and
State Representatives Ken Sorensen and Dennis Ross.
3. This Resolution shall become effective on the date adopted.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe
County, Florida, at a meeting of said Board held on the t\venty-first day of
March, A.D. 2006.
Mayor Charles "'Sonny" McCoy
Mayor Pro Tern Mu.rray Nelson
Commissioner George Neugent
Commissioner David Rice
Commissioner Dixie Spehar
(Seal}
Attest: DANNY L. KOLHAGE, Clerk
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
By:
-._~-,~. ""<~~-,..,.,-,.,.,.-"_.,._.,..
By: ~""~"~_"
Mayor I Chairman
Deputy Clerk
IF. ;
" ... .;S&13T^1- A !j L::pORNE\
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Protect Affordable Rental housing/Wind&lmm 2