Victims of Contractor Fraud: Go to the Florida Homeowners Construction Recovery Fund

We are all hearing about the dozens of cases of alleged fraud in our area where contractors have been accused of taking money from clients then subsequently never completing the work.  Or doing part of the work and not finishing.  Or never even starting.  And when refunds are requested, they are not given.

Some folks are out tens of thousands of dollars.  Some even more.

Now, one such contractor has gone bankrupt and has been arrested.

Another is facing allegations and loss of his license.

Meanwhile, the victims (which are growing exponentially) are wondering how they are to be repaid.

One mechanism that is available is the Florida Homeowner's Construction Recovery Fund.

From the Bar Journal article describing this fund:

"The Florida Homeowners’ Construction Recovery Fund (Fund) was established in 1993 in order “to compensate consumers who suffer monetary damages as a result of certain violations by licensed contractors.”1 The Fund’s legislative purpose is to “compensate an aggrieved claimant who contracted for the construction or improvement of the homeowner’s residence2 located within this state and who has obtained a final judgment in a court of competent jurisdiction, was awarded restitution by the Florida Construction Industry Licensing Board (CILB), or received an award in arbitration against a licensee based on specified acts.”3 The CILB is a professional licensing board within the Department of Business and Professional Regulation (DBPR).4 The Fund provides a remedy for claimants that becomes available once the claimant has exhausted diligent efforts to seek reimbursement from the contractor.5"

Florida  I am told there is a cap for recovery from this fund of $25,000.00.  I'm also told there is significant documentation/paperwork requirements to qualify.

But if you are out tens of thousands of dollars--it may be well worthwhile to go through the paperwork requirements to try and collect some of your money.

Download the claim form here

About the Contractor Competency Issue....

A number of citizens have rightly expressed concerns about a couple of licensed contractors in the County who have not finished work and who have accepted large up front fees for such work and not paid customers back the money.

It's been all over the press and Facebook.  Folks are angry and upset.

After speaking with staff today on this issue particularly, I am told that if restitution in the amount of $62,052.42 is not proved to have been paid back to customers by Banks Construction, Inc., by August 10th--Wednesday--this firm's license will be immediately suspended and this company will not be able to any work which requires this license--- nor will they be able to pull any additional permits.  In addition to this restitution, I'm told this firm owes fines in the amountof $16,379.56 that must be paid by 9-1-2022.

There are additional customer complaints on this particular firm--this $62,052.42 represents the first group of complaints..

I am told there is one more firm who also has had a number of complaints for non-performance and non-payment and this firm must also pay restitution or have their license suspended.  I will be getting more information on that company tomorrow, and I will post that here.