Former Hempstead Town Jon Kaiman, a candidate for Congress, hosted a Co-op Roundtable Discussion with Co-Op board presidents and leading professionals who, combined, represent over 8,000 units of co-op housing in the Third Congressional District.
Co-op leaders and Kaiman discussed solutions for the unique nature of the cooperative form of home ownership and the role that government can play to make the lives of Co-op shareholders easier.
Among the solutions Kaiman proposed-
• Amending the Stafford Act so that Coops are eligible for storm recovery monies. At present, Coops are classified as “commercial entities” and are not eligible for disaster relief.
• Amendment of Fannie Mae Guidelines in order to make it easier to obtain loans for Cooperative apartments and increase mortgage competition to keep interest rates more competitive.
• Tackling quality of life issues, such as airplane noise and the need for greater aging in place assistance for our seniors who live in coops.
• A sensible approach to real estate taxes and property tax cap options to avoid excessive tax increases for coop owners.