In the News

The Architect’s Newspaper — New York City has historically been a city at the front lines of housing justice and tenant activism. One of the entities at the forefront of this are Community Land Trusts (CLTs), of which there are 15 of in the city. Today, CLTs and alliances working alongside them are working hard to pass the Community Land Act (CLA), a proposed legislative package aimed to give CLTs more power (or really, level the playing field) when buying land or buildings.

A debt collector obtained a default judgment against Sharae Banks through fraud, falsely claiming that it had properly notified her when it sued her years earlier. A lower court then barred Ms. Banks from challenging the default judgment, upholding the debt collector’s blatant violations of her basic due process rights. New Economy Project has filed an appeal, joined by co-counsel and amicus NYS Attorney General Letitia James, to reverse the ruling.

The Brian Lehrer Show — As this year’s budget season comes to a close in New York City, Tousif Ahsan, Public banking campaign organizer at the New Economy Project, and James Parrott, Director of economic and fiscal policies at the Center for New York City Affairs at the New School, explain the findings of a new report that shows how holding city money in a public bank could uplift the local economy, create jobs, tackle the affordable housing crisis, and move us forward on the path for a more sustainable and economically just future.

Norwood News — At a public meeting billed as a “Boroughwide Town Hall on Public Banking,” representatives from ten Bronx-based groups joined various elected officials to push for State and City legislators to build upon efforts to promote worker-owned businesses, increase community land trusts, and facilitate access to more local credit unions as an alternative to big commercial banks.

City Limits — “Too often we think banking has nothing to do with democracy,” said State Senate Banking Committee Chair James Sanders at last week’s hearing of the New York City Banking Commission.

But banking and democracy were on full, if not always fulsome, display at the hearing as the commission decided which banks would be eligible to receive more than $100 billion in annual city agency deposits over the next two years. For the first time, the commission accepted public testimony before voting on which banks could hold city dollars.

NYN Media — With over half of New York City tenants spending nearly a third of their income on rent, affordable housing is crucial to ensuring a safe future for New Yorkers. That’s why advocates in have rallied and thrown their support behind the Community Land Act, a package of bills before the New York City Council that would provide nonprofits and community land trusts with the resources to develop permanently affordable housing. Community land trusts hold land under community control, thus guaranteeing the community derives benefits from it. Spearheading this campaign is the NYC Community Land Initiative, a coalition of housing organizations trying to expand social housing.