Article and Video Courtesy of  Bay News 9        Joan Cunnison-Jahnke has lived in a modest, two-story condo that was built in 1963 for many years. The home at Sarasota Harbor West is surrounded by multimillion-dollar high rises. "It's in great shape," said Cunnison-Jahnke. "Built like a fortress. It's withheld a lot of storms." However, Cunnison-Jahnke and some of her neighbors, like Renate Mamula, are worried a proposed condo-teardown law could lead to the demolition of her waterfront building. The state law would lower the number of condo owners required for approval to tear down a building.

Watch VIDEO   Published June 25, 2007           If the legislation passes, some may not be able to afford new waterfront homes.

"It will affect thousands of condos up and down the coast," said Mamula.

The proposed law states, "Unless the declaration provides for a lower percentage," an 80 percent vote would be all that is needed to terminate a Florida condominium agreement.

There are more than one million condo owners in Florida.

"For average middle class that is fortunate enough to live on waterfront property, they will not be able to anymore," said Mamula.

The proposed law would also make it easier to address hurricane-related damage quickly. One hundred percent approval by condo residents would not be needed to tear down damaged property or to make repairs.

Cunnison-Jahnke's neighbor, Ed Mongillo, supports the proposal.

"If a new developer came in and they would rebuild to new codes and that would be strong, I would say yes," said Mongillo. "I would sell for a million dollars. Sure."

Gov. Charlie Crist has until Thursday to veto or sign the bill.

"It's fundamental fairness to people who live in condominiums, so it looks pretty good to me," said Crist.

Some condo owners say even if they were fairly compensated, they still wouldn't be able to afford taxes, insurance and maintenance for a new waterfront condo. Some have already been offered $1 million.