Velázquez-Backed Cooperative Housing and Public Housing Oversight Provisions Headed to President's Desk in Landmark Housing Bill

WASHINGTON — 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. Velázquez (D-NY) to expand access to affordable housing through cooperative ownership models and tighten congressional oversight of public housing authorities operating under federal monitorship.
 
Velázquez’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 excluded from programs they qualify for.
 
“Cooperative housing remains one of the best tools we have to increase affordability and ensure working families can stay in their neighborhoods," said Velázquez. "In a city like New York, where rising costs are pushing families out, resident-owned cooperatives offer stability and a buffer against rent hikes. This bill will ensure cooperatives play a prominent role in our national affordable housing strategy.”
 
Cooperative housing supports more than 1.5 million families across the country and is a cornerstone of affordable homeownership in New York City.
 
Velázquez also secured oversight and transparency requirements aimed at public housing authorities operating under a federal monitor or receiver. The provision was developed in response to persistent maintenance failures at the New York City Housing Authority (NYCHA) and the court-appointed federal monitor's limited engagement with New York's congressional delegation. Under the new requirements, monitors and receivers must deliver annual reports and testimony to Congress. Velázquez's language will strengthen congressional oversight and help the federal government direct resources where they are needed most.
 
“For years, NYCHA residents have lived with conditions no family should have to tolerate, while the court-ordered federal monitor operated with little input from the representatives who serve those communities," said Velázquez. "This law changes that. Requiring monitors and receivers to report and testify before Congress means we can better equip NYCHA and struggling housing authorities nationwide to make repairs and improve residents' lives.”
 

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