As this year’s corporate-sponsored “Climate Week NYC” sputters on, New Economy Project and the Public Bank NYC coalition released an analysis estimating that NYC’s financial investments and cash deposits in big banks generate 757 kilotons of greenhouse gas emissions (GHG)* annually. This previously unreported figure would represent the second largest source of GHG emissions by sector in city government, if accounted for in the City’s GHG inventory, according to the analysis.
City & State NY — Over the past decade in New York City, a housing shortage, increased investor activity and quickly rising home prices have exacerbated the affordable housing crisis. Today, there are almost no apartments with a monthly rent below $1,500 in the city. Housing advocates and policymakers have been pushing the city to invest in different housing models that prioritize affordability over profit.
Housing Notebook — Our CLT Campaign Organizer Elise Goldin joins Claudia Waterton, a Bronx tenant association president, and host Scott Sommer to discuss tenant-controlled housing and the Tenant Opportunity to Purchase Act (TOPA).
New Economy Project and co-counsel at The Law Office of Ahmad Keshavarz filed a federal lawsuit this month, on behalf of Bronx resident Jose Crespo, against Gutman, Mintz, Baker, and Sonnenfeldt (GMBS), a Long Island-based debt collection law firm that has for years engaged in predatory and unlawful practices that harm low-income New Yorkers.
City Limits — New York City community land trusts and nonprofit developers could get the first crack at securing publicly-owned land for affordable housing under a new bill introduced by Brooklyn Councilmember Lincoln Restler Thursday.
Meet longtime supporter Celeste Day Moore, who shares her story of why she donates monthly to New Economy Project.
Thanks to all who joined us for our 2022 Summer Briefing for Supporters. Check out video from the event here.
Brownstoner — “We demand — we ain’t asking no more — we demand that HPD turn this big, gigantic lot over to the community. Give it to the East New York Community Land Trust, let us build on it what the community needs, not free parking for the NYPD.”
In her State of the City address last week, Council Speaker Adrienne Adams called for $4 billion in next year’s City budget for affordable housing, nearly tripling Mayor Eric Adams’s proposed investment.
A new report from Demos and New Economy Project calls on New York City to establish a public bank to divest city dollars from Wall Street and channel capital to Black and brown communities to promote racial equity and a just recovery.