ST. PETERSBURG, Fla. — Tampa Bay is a dream location for people looking to live closer to water or retire, but some say their dream is becoming a nightmare.
“I think a lot of community is over 55, they’re on fixed income and their fees go from $400/month to $1,400/month. That now becomes so much of their income they can't afford it,” said Ken Edwards, a condo owner.
The state leads the nation in terms of rising insurance rates.
“Floridians today are paying the highest average premium in the U.S. at $6,000/year,” said Mark Friedlander with the Florida Insurance Institute.
Condo owners said they're hoping these rate increases are addressed in the upcoming legislative session.
“I know that there's going to be bills that are introduced that are looking at homeowners’ association fees, that are looking at ways that we can support condo owners,” said Rep. Lindsay Cross, D-St. Petersburg.
Cross introduced House Bill 1143 to address homeowners' concerns about storm damage.
“As we experienced Hurricane Idalia earlier this summer, neighborhoods in my community including Shore Acres, Snell Isle, Rivera Bay had significant flooding,” Cross said.
Cross says many Floridians rely on the My Safe Florida Home program for grants to make hurricane-hardening improvements to their home. Right now, that doesn't include flooding. She hopes to change that.
“These would be improvements like flood barriers in front of garage doors or entry doors,” Cross said. She added that these changes will have a huge impact here on families living on the coast.
The legislative session begins Jan. 9th.