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Recovery Fund Frozen

September 24th, 2008 by flanews

People ripped off by construction companies will have to wait on state help to cover their losses. A slowdown in development has depleted Floridas Homeowners Construction Recovery Fund. The fund is financed through building permit fees. The money is used to pay people who have been ripped off by state licensed contractors. Director of Floridas Department of Business and Professional Regulation Jenn Meale said even though payouts have been suspended, victims should still file claims.

People who are currently making claims with the recovery fund will have their claims processed up until the point of completion and then on a quarterly basis the department will review the revenue thats been generated by the surcharge and schedule claims to be heard. So claims will still be processed with the department, said Meale.

Theres only $4,464 left in the fund.

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