Wednesday, June 3, 2026

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Rep. Israel Renews Push to Make Condos, Co-ops, and Certain Common Interest Communities Eligible...

Three years after Superstorm Sandy hit New York, Congressman Steve Israel (D –NY) renewed his push and announced legislation that would make co-ops, condo associations, and certain common interest communities eligible for the same vital assistance from the Federal Emergency Management Agency (FEMA) available to other homeowners. Currently, co-ops, condo associations, and common interest communities are only eligible to receive loans and not grants. Following Superstorm Sandy, Rep. Israel wrote a letter and urged FEMA to make co-op and condo associations eligible for storm recovery grants.

Recent Gov & Nonprofit Real Estate Press Releases

Carey, Panetta Introduce the Affordable Housing Credit Carryback Act

Last week, U.S. Reps. Mike Carey (R-OH-15) and Jimmy Panetta (D-CA-19) introduced H.R. 9012, the Affordable Housing Credit Carryback Act to strengthen the Low-Income Housing Tax Credit (LIHTC). This legislation will change the LIHTC carryback period from one year to five years, which will increase the uptake of these important credits and spur more investment in affordable housing production.