Smart Florida HOA Financing for Structural Repairs

Interview with: J.C. Perrin

Across Florida, condo and homeowner associations are under pressure to fund critical repairs to aging infrastructure. From hurricanes to legislative changes, these communities are facing more urgency and scrutiny than ever before.

We sat down with J.C. Perrin, EVP and Market President for Palm Beach County at Seacoast Bank, to explore how community associations can strategically finance these projects, what boards should be thinking about and how Seacoast's local expertise is helping communities build safer, more financially resilient futures.

Q: Natural disasters, accidents and legislative changes have put new burdens on condo associations and HOAs. What financing options are available to HOAs that need to fund large-scale repairs?

Associations have several financing options, including term loans, lines of credit and assessment-backed loans secured by future dues. These are effective for funding urgent repairs without draining reserves. At Seacoast, we provide customized lending solutions to help communities fund necessary repairs without placing undue burden on the residents. Our flexible financing structures ensure that HOAs can access funds quickly while aligning with their long-term planning needs.

Q: How can HOAs balance the need for repairs with residents' financial concerns?

It starts with transparent communication. Residents need to understand what repairs are needed, why they matter and how financing can help spread costs over time. That means open dialogue between a board and homeowners is essential. At Seacoast, we often help boards explore ways to phase in repairs or combine reserve funds with financing to ease the impact. Being proactive, rather than waiting until problems escalate, ultimately saves both the association and residents money.

Q: What role do community banks play in helping HOAs finance critical structural repairs?

A community bank, especially Seacoast, has local contacts. We're relationship-focused. We know good attorneys, good contractors and good inspectors. We live in communities with HOAs, and that local perspective, along with our relationships, provides service and insights. Unlike national banks, we take the time to understand each association's unique needs and act quickly.

Q: Can you provide examples of how Seacoast Bank has provided financing for structural repairs to condo buildings?

We’ve financed everything from roof replacements and seawall repairs to street paving, concrete restoration and lake erosion projects. In every case, our local expertise and understanding of Florida’s regulations have helped HOAs avoid deferred maintenance and costly special assessments, while delivering fast, responsible financing when it matters most.

Q: How can HOAs properly explain the need for repairs and financing options to residents?

There should be clear communication between the board and residents. Once there’s alignment and a plan is in place, Seacoast can step in as a consultative partner — attending board or town hall meetings and working with association attorneys to explain financing options. We also recommend regular updates and written communications to keep residents informed and confident in the process.

Q: How can Seacoast's local expertise benefit HOAs in handling financing for structural repairs?

Many of our bankers live in the communities we're talking to. We have good local contacts with the various vendors — contractors, inspectors, attorneys and so on. Having that local connection lets us ensure that the HOA gets the best solution to meet its needs. We understand Florida's unique insurance environment, building codes and financial regulations. That local knowledge allows us to structure financing that complies with state reserve laws and supports a community's long-term plan — not just the immediate project.

Q: What financing solutions does Seacoast Bank offer for HOA structural repair projects?

We offer term loans, lines of credit, and flexible assessment-backed financing, which allows associations to fund large-scale repairs and repay them over time using future assessment income. We aim to align repayment structures with the HOA’s financial strategy and the residents’ ability to manage costs. We customize our solution based on each community’s needs, board authority and legal parameters.

Q: How can HOAs use reserve funds and other options to reduce the burden on residents?

It's critical that the HOA is reserving correctly and doing their reserve studies. Having the proper reserves now will save the residents from higher expenses in the long run. The bank can provide consultation to partner with the reserve studies to ensure that adequate funding is accounted for. When reserves fall short, Seacoast can use financing to spread costs over time — minimizing the impact on residents while supporting long-term planning.

Q: How important is it for an HOA to have a plan to pay for ongoing repairs and maintenance?

It’s critical that the HOA keeps “money in the bank” for a rainy day. Paying now when issues arise and being proactive will save the association and its residents money in the long run. A forward-thinking financial strategy helps avoid deferred maintenance, preserves property values and builds trust in the board’s leadership.

Q: How can Seacoast assist HOAs in creating a financial plan for future maintenance needs?

Seacoast takes a consultative approach — we’re not here to sell but to help HOAs find the best solution for their residents. We support reserve planning, build financial roadmaps and offer flexible lending tools so associations can plan confidently for today and the future.

Florida’s HOAs are being called to lead — not only in maintaining buildings but also in securing their communities' future. At Seacoast Bank, we’re proud to walk alongside them, offering financial guidance, local knowledge and a long-term commitment to helping Florida’s neighborhoods prosper. By combining a personalized approach with deep regional insight, we help HOA boards take control of their community’s future — and build a more stable, secure tomorrow.