Staten Island Reporter

U.S. Reps. Nicole Malliotakis and Grace Meng have introduced bipartisan legislation aimed at expanding housing benefits for veterans in New York City. The Fair Access to Co-Ops for Veterans Act (H.R.7703) seeks to make it easier for veterans to purchase co-ops by including them in the Veterans Home Loan Guarantee program.

Congresswoman Malliotakis emphasized the importance of providing access to co-ops for veterans, stating, "With co-ops accounting for roughly a quarter of the housing market in New York City, it’s critically important that we ensure access to these properties for our veterans who’ve sacrificed so much for our nation."

Rep. Meng highlighted the need to expand affordable housing options for veterans, stating, "Let’s give veterans and servicemembers access to co-ops."

Raymond Aalbue, Executive Director of the United Military Veterans of Kings County, expressed support for the legislation, noting that it will enhance the quality of life for veterans in New York City, where the cost of living is high.

Vietnam Veteran Sgt. Michael Sulsona, who currently serves as a Veterans Service Officer, emphasized the importance of providing veterans with the support they deserve, stating, "To properly care for those who gave their all, we as a nation can only insure our veterans receive no less than what they have given us."

Kristina Keenan from the Veterans of Foreign Wars (VFW) and Marquis Barefield from Disabled Veterans of America (DAV) also expressed support for the bill, highlighting the importance of extending VA home loans to include co-ops in order to provide long-term housing stability for veterans.

The Veterans Home Loan Guarantee program, which the legislation seeks to expand, helps veterans, service members, and eligible surviving spouses become homeowners by providing loans with the VA guaranteeing up to 50 percent, allowing for more favorable terms.