VELAZQUEZ-BACKED COOPERATIVE HOUSING AND PUBLIC HOUSING OVERSIGHT PROVISIONS HEADED TO PRESIDENT'S DESK IN LANDMARK HOUSING BILL

Washington, June 23 -- Congresswoman Nydia M. Velazquez issued the following press release:

Today, the House of Representatives voted on final passage of the 21st Century ROAD to Housing Act, sending the most significant federal housing legislation in a generation to the President's desk. The final bill includes provisions authored by Congresswoman Nydia M. Velazquez (D-NY) to expand access to affordable housing through cooperative ownership models and tighten congressional oversight of public housing authorities operating under federal monitorship. Velazquez's provision explicitly authorizes housing cooperatives as eligible participants in federal housing programs, fixing vague statutory language that had left co-ops at risk of being ex...