REPS. ENGEL & ISRAEL JOIN 19 BIPARTISAN MEMBERS TO CALL ON FEMA TO MAKE CO-OPS AND CONDOS ELIGIBLE FOR STORM RECOVERY GRANTS

Washington, DC – March 20, 2013 – (RealEstateRama) — Today, Congressmen Eliot Engel (D-NY-16) and Steve Israel (D-NY-03), along with 19 bipartisan Members of Congress, called on the Federal Emergency Management Agency (FEMA) to include co-op and condo owners among those eligible for disaster aid. Presently, co-ops and condos are only eligible to receive loans and not grants because they are classified as “business associations” under FEMA assistance eligibility rules. Especially in light of the damage from Hurricane Sandy, co-ops and condos are in desperate need of the same vital assistance that other homeowners are eligible to receive.