The FAIR Foundation is administering a Residential Construction Mitigation Program (RCMP) grant on behalf of a 55+ residential condominium community in Clearwater, Florida.
Funded by the Florida Hurricane Catastrophe Trust Fund, RCMP grants are awarded to improve the wind resistance of Florida homes. Awarded in 2016, the grant funds a wind mitigation project through procuring and installing impact-resistant hurricane shutters for all building window and door openings. The FAIR Foundation is breaking new ground by administering the first grant applicable to a multi-tenant residential property.
When complete, the grant will harden and protect all 57 condominium homes against catastrophic wind damage without the need for additional assessments from property owners. In addition to reducing overall property and personal risk, these property improvements will provide for a reduction in insurance rates for both the condominium association and individual condominium owners.
The Residential Construction Mitigation Program (RCMP) receives $7 million annually from the Florida Hurricane Catastrophe Trust Fund. Each year, up to $3.4 million of these funds are to be used to improve the wind resistance of residences through loans, subsidies, grants, demonstration projects, direct assistance, and cooperative programs with local and federal governments. The program is developed in coordination with Advisory Council whose members consist of representatives from the Florida Association of Counties, the Florida Department of Insurance, the Federation of Manufactured Home Owners, the Florida Manufactured Housing Association, the Florida Insurance Council, and the Florida Home Builders Association.