SB 2727 Summary

• Enables residential condominiums with six or more units to participate in commercial property assessed clean energy and resiliency (C-PACER) financing for capital improvements including fire safety, energy efficiency, renewable energy, and water conservation measures.

• Defines condominium associations as the "property owner" for C-PACER purposes, with non-ad valorem special tax assessments levied on the condominium project rather than individual unit owners.

• Allows condominiums to finance fire safety upgrades and other qualifying improvements through C-PACER at more favorable rates and terms than conventional financing, with repayment terms matching the useful life of installed equipment.

• Requires condominium associations to obtain written consent from creditors with recorded mortgages or UCC financing statements before entering into C-PACER contracts.

• Treats C-PACER special assessments as common expenses of the condominium project, collected alongside regular assessments with 50% unit owner consent required for approval.