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In the News
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Public News Service: NYC Bill Gives Nonprofits a Chance to Buy Apartment Buildings
A New York City bill to help tenants is poised to finally become law. The Community Opportunity to Purchase Act allows vetted nonprofits like community land trusts the first chance to buy certain multifamily buildings when a landlord decides to sell them.
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Brick Underground: City Council Passes COPA, Paving the Way For Land Trusts and Non-Profits to Get First Dibs on Failing Buildings
After six years of fighting for New York City legislation to give community land trusts and nonprofits the first shot at buying failing apartment buildings, tenant advocates finally scored a victory Thursday.
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Crain’s New York Business: Nonprofits to Get First Dibs on Buying Distressed Multifamily Housing
Starting next year, certain nonprofits and joint ventures can get a head start when bidding on distressed multifamily buildings in New York City.
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City Limits: Council Passes Bill Giving Nonprofits First Dibs in Distressed Building Sales—With Mayor’s Support
It was so close and yet, so far. But now the Community Opportunity to Purchase Act (COPA) appears to have broken through for good. The bill passed the City Council for the second time in less than a year Thursday, and will head next to the mayor’s desk.
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The Real Deal: Policy Pro: COPA’s Council sponsor boasts “win” against private sector
The Community Opportunity to Purchase Act is slated for a City Council vote this week. It’s the second time in less than a year that the Council is voting on the contentious bill that would give city-approved nonprofits and joint ventures the first opportunity to buy certain distressed multifamily properties when they go for sale.…
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Queens Ledger: COPA Inches Closer to Law as Support Builds in City Council
Speaking before her colleagues on the City Council’s Committee on Housing and Buildings on Wednesday, September 9, the Bushwick councilmember once again delivered the opening testimony for the Community Opportunity to Purchase Act (COPA) — her landmark bill that would empower trusted nonprofits to acquire distressed apartment buildings before corporate real estate can.
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City Limits: Is It Finally COPA’s Year?
The Community Opportunity to Purchase Act (COPA), which would give some tenants and community groups pathways to bid early on certain buildings that go up for sale, finally has support of Council, city housing officials, and the mayor.
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The City Reporter: East New York Residents Try Buying Back Their Neighborhood, One Lot At a Time
Debra Ack beamed with pride as she looked at the two-story brown brick warehouse on Jamaica Avenue in East New York.
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Hoodline: East New York Land Trust Buys Warehouse, Aims To Reclaim Block From Market
A century-old warehouse on Jamaica Avenue is getting a new life as the East Brooklyn Liberation Center, after the East New York Community Land Trust closed on a $2.3 million purchase of the 9,500-square-foot building this year. The two-story structure will house the land trust’s main office, space for local organizations, businesses and worker co-ops,…
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The Riverdale Press: COPA Housing Bill Draws Support and Skepticism Ahead of NYC Council Hearing
Dozens of advocates rallied Aug. 13 near City Hall for “COPA Cabana” — a beach-themed event to urge the passage of a controversial housing bill called the Community Opportunity to Purchase Act — ahead of the New York City Council’s Sept. 9 hearing.