community land trusts

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.

Community and housing activists joined Council Member Carlina Rivera and Council Member Sandy Nurse, Comptroller Brad Lander, and other elected officials at a rally at City Hall to call for increased support for community land trusts (CLTs), to shield land and housing from speculation in the wake of the pandemic. Groups called for strong public investment in CLTs and policymaking to stabilize housing and promote a just recovery in Black and brown neighborhoods hardest-hit by the COVID-19 crisis.

I’m pleased to testify today about community land trusts (CLTs), and to urge the Committee to support $3 million in FY2023 funding for the Citywide CLT Initiative. New Economy Project further urges the Committee to advance legislation to strengthen CLTs and expand non-speculative, community- and tenant-controlled housing. In the wake of the pandemic, public investment in CLTs and other forms of social housing will be critical to stabilize housing, combat speculation, and promote a just recovery in low income and Black and brown neighborhoods hardest-hit by the COVID-19 crisis.

Harlem World — Today, activists and elected advocates gathered on the steps of City Hall to celebrate the end of the Rudy Giuliani-created Lien Sale program. Since 1996, New York City has been selling the right to collect delinquent property tax and water debt at a discount to a privately administered hedge fund-backed Lien Trust.