CS/CS/SB 1702 (Bradley) does the following:

•Creates a statewide structural inspection program for aging multifamily residential buildings

•Defines the term "milestone inspection" to mean a structural inspection of a building by a licensed architect or engineer authorized to practice in this state for the purposes of attesting to the life safety and adequacy of the structural components

•Makes known that the cost associated with the inspections are the responsibility of the condominium owner or association

•Requires multifamily residential buildings that are greater than three stories in height to have a milestone inspection performed by December 31 of the year in which the building reaches 30 years of age and every ten years thereafter

•Requires multifamily residential buildings located within 3 miles of a coastline and are greater than three stories in height to have a milestone inspection performed by December 31 of the year in which the building reaches 20 years of age and every seven years thereafter

•Requires any multifamily residential building whose certificate of occupancy was issued on or before July 1, 1992, to have their initial milestone inspection performed before December 31, 2024

•Requires the architect or engineer who performed the inspection to submit a sealed copy of the report to each condominium unit owner and to the building official of the local government of jurisdiction

•Allows the local enforcement agency the ability to prescribe timelines and penalties with respect to compliance with the above section

•Requires the Florida Building Commission to develop comprehensive structural and life safety standards for maintaining and inspecting all building types and structures by December 31, 2022

•Requires condominium and cooperative associations with a residential building that is three stories or more in height to conduct a reserve study at least once every three years

•Requires unit developer and non-developer unit owners to give prospective buyers of a unit a copy of the most recent reserve study and milestone inspection report before the applicable voidability period

•Expands unit owner access to records and provides additional disclosures relating to the funding of reserves. (Branch)