TAMPA, Fla. (WFLA) — The dollars have run dry for a state program designed to help condos weather the high cost of storm improvements.

The ‘My Safe Florida Condo’ pilot program stopped accepting applications within just one week.

It offers condo associations free inspections, then up to $175,000 in grant funding to make improvements to protect their buildings from hurricanes.

The ultimate goal of the program is to eventually lower insurance premiums, but some say it does little to help those living in larger buildings.

“Maybe in a small building, $175,000 means something,” said Eric Glazer, a board-certified attorney who specializes in condominium law. “However, the truth is, in a larger type of community association that might be 2% of what’s needed, and the association is still going to get hit with a large bill.”

State lawmakers allocated $30 million to the new initiative.

It’s similar to the ‘My Safe Florida Home’ program, which is also in high demand.

According to a news release from Chief Financial Officer Jimmy Patronis:

“The purpose of the pilot program is to provide free inspections to identify existing hurricane-resistant features and recommend wind mitigation improvements, and then provide grant funding to help pay for the needed improvements. Ultimately, eligible condominium associations are able to protect their properties while potentially lowering their wind insurance premiums.”

Condominium associations can receive updates about the program at:  MySafeFLCondo.com.