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The proposed citywide CLT initiative will allow groups to build upon exciting progress at a critical moment of opportunity. The initiative will support essential CLT community education and organizing, board and member training, and other start-up costs; build capacity through legal, financial, and technical assistance; and promote coordination among CLTs so they reach a sustainable scale.

I’m pleased to present testimony on behalf of Public Bank NYC, a broad-based coalition New Economy project co-founded and coordinates. Public Bank NYC is made up of community, civil rights, environmental, and economic justice groups fighting for the creation of a municipal public bank – chartered to serve the public interest, accountable to New Yorkers, and rooted in principles of racial and economic justice.