New York’s approach to economic development desperately needs a reboot. We spend billions of dollars annually on wasteful corporate subsidies and tax giveaways – in the process diverting much-needed resources from higher education, transit, health care and other investments that would advance equity and economic opportunity in low-income neighborhoods and communities of color.
New York City’s housing and land use policies have contributed to neighborhood segregation, displacement of BIPOC New Yorkers, racial health disparities, widening wealth inequality, and a host of other inequities. New York City’s charter must be reformed to repair past harms, by giving Black and brown communities meaningful opportunities to own and control land, housing and neighborhood development.
The 20 undersigned organizations are pleased to respond to New York City’s Shared Equity Request for Information (RFI). We believe that New York City should be a beacon for cooperative economics, advancing racial and gender equity and community-led development. Our organizations include cooperatives and community land trusts, as well as grassroots and member-led groups that have developed these and other shared equity strategies in Black, brown, and immigrant communities. Also included are organizations that provide critical financing, legal assistance, training and other support to community-led initiatives.
New Economy Project and 17 partner organizations in the CLT Initiative seek $1.51 million in City Council discretionary funding in FY2022. We urge the Committee to support this funding request and ensure that CLTs continue to play a key role in stabilizing communities, combating speculation, and promoting a just recovery in Black, brown and immigrant neighborhoods. (See attached one-pager detailing activities and participating organizations.)
New Economy Project coordinates the Citywide Community Land Trust (CLT) Initiative, launched in FY2020 to strengthen and expand CLTs and permanently affordable housing, commercial and community spaces, across NYC. In less than two years, the Initiative has made major progress–helping to launch and expand CLTs in the South and Northwest Bronx, East Harlem and the Lower East Side, Jackson Heights, Brownsville, East New York, and beyond.
The City Council has passed legislation charting the course for ending New York City’s tax lien sale, and replacing it with an equitable municipal debt collection system that preserves affordable housing and stabilizes Black and brown NYC neighborhoods.
NYC needs transformative, community-led solutions to our city’s affordability crisis that advance racial equity and a just recovery. I am pleased to testify in support of Intro 1977, the Community Opportunity to Purchase Act (COPA), and Intro 118-A, to establish a municipal land bank. Passage of these bills will give communities–and the City, itself–new tools to keep New Yorkers safely housed, expand community land trusts and social housing, and curb speculation in the wake of COVID-19. We thank Council Member Rivera and Council Member Lander for their leadership and urge the Committee to advance this critical legislation.
Shelterforce — As state and local economies attempt to reopen, and eviction moratoriums expire, millions of Americans once again face losing their homes. While these moratoriums have temporarily protected renters who may be unemployed and unable to pay rent due to the COVID-19 pandemic, elected officials are waking up to the reality that additional, far-reaching legislation is necessary to prevent widespread eviction, homelessness, and another foreclosure crisis.
Gothamist — A Brooklyn state senator is drafting a bill that would give tenants priority to buy their landlord’s building should the property go up for sale.
In this episode of Let’s Be Real, we speak with Elizabeth Yeampierre, executive director of UPROSE. Founded in 1966, UPROSE is Brooklyn’s oldest Latinx community-based organization and has been deeply involved in the climate justice movement for decades. In our interview, Elizabeth discusses what it means for the organization to be community-led, how all organizing […]