News & Events

New York City is doubling down on a bold strategy to advance community ownership of land and housing in NYC’s Black, brown and immigrant communities. This year, the City Council awarded $1.5 million to support community land trust (CLT) organizing across the five boroughs—its largest allocation since launching the Citywide CLT Initiative in 2019.

New Economy Project’s Co-Director, Deyanira Del Río, testified before the U.S. House Financial Services Committee’s Subcommittee on Consumer Protection and Financial Institutions last week on the growing movement for local public banking in New York. Rep. Alexandria Ocasio-Cortez, who spoke at the hearing—one of the first on public banking in modern American history—said it was a “historic day and a day worth celebrating.” 

Briefing for Supporters

Thanks to all who attended our July 2021 briefing for supporters! Check out video from the briefing here, and stay tuned for more ways to learn about and get involved in our work.

The Nation — Even as the pandemic devastated New York City, megabanks like JPMorgan Chase and Bank of America continued to do a roaring trade. And now those financial behemoths are set to manage the funds that New York City and other municipalities will be deploying for the recovery. But financial justice advocates want to see the City move its money from the Wall Street titans to a public bank, owned and operated by the people.

Community and housing activists joined elected officials at a rally at City Hall Park today, as they called for a just budget that includes $1.51 million for the Citywide Community Land Trust (CLT) Initiative to expand community control of land and housing in NYC’s Black, brown and immigrant communities. Funding will support 14 neighborhood-based CLTs organizing across the five boroughs, as well as four citywide technical support organizations.