Public Comments

February

2023

23

Testimony to the New York City Council Committee on Housing and Buildings, in Support of the Community Land Act

The Community Land Act is a bold legislative package that will give CLTs and other nonprofits tools to acquire land for permanently affordable social housing, affordable commercial and community spaces, and other critical needs. We urge the Committee and Council to pass the Community Opportunity to Purchase Act, or COPA (Int. 196), Public Land for Public Good (Int. 637), and Resolution 38 in support of the NYS Tenant Opportunity to Purchase Act, or TOPA.

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March

2022

28

Letter to NYC Public Banking Commission Calling for De-Designation of Wells Fargo

We, the undersigned 25 organizations, including members of the Public Bank NYC coalition, write to you in your roles as members of the NYC Banking Commission (“the Commission”) regarding the recent Bloomberg Businessweek investigation into Wells Fargo’s discriminatory mortgage lending practices.1 For the reasons outlined below, we call on the Commission to revoke unconditionally Wells Fargo’s designation to hold City deposits.

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March

2022

14

Testimony to NYC Council Committee on Housing & Buildings, Preliminary Budget Hearing for FY2023

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.

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March

2022

1

Testimony Before NYS Senate Standing Committees on Banks, Finance, and Environmental Conservation, Joint Public Hearing to Explore Financial Risks on Banking Posed by Climate Change

As you know, climate scientists for decades have warned that fossil fuels are wreaking havoc on our environment and that bold, concerted action is needed to address the climate crisis. Yet, in the six years since the Paris Agreement, banks have poured over $3.8 trillion into the fossil fuel industry, according to the Rainforest Action Network.i Banks’ funding of fossil fuels is accelerating the climate crisis, which is becoming deadlier each year.

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February

2022

16

Testimony Before Joint Legislative Hearing on Economic Development and the Fiscal Year (FY) 2022-23 Executive Budget Proposal

As low-income communities and communities of color across the state continue to reel from the economic devastation caused by COVID-19, this year’s budget presents an historic opportunity to make bold investments that will drive equitable local economic development for years, and even decades, to come. We urge both houses of the Legislature to allocate $100 million for the NYS CDFI Fund and $100 million in matching funds to help local governments capitalize public banks, and to adopt, as part of the budget, the NY Public Banking Act (S1762A/A8290), which creates a safe and appropriate regulatory framework for local public banks in New York.

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January

2022

19

Statement from NYS Community Equity Agenda Coalition: Hochul’s Budget Proposal Squanders Historic Opportunity to Invest In Communities

With yesterday’s Executive Budget proposal, Governor Hochul had the opportunity to present a bold community economic development agenda that addresses long-standing racial and economic inequality that the pandemic has exacerbated. Unfortunately, with few exceptions, this budget proposal offers more of the same.

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January

2022

14

Testimony Before NYS Senate Committees, on Effective Economic Development Strategies

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.

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November

2021

24

Sign-On Letter to NYC Racial Justice Commission in Support of Public Land for Public Good

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.

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