cooperatives
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Joint Statement of Principles on Shared Equity
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…
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Testimony to the New York City Council Committee on Economic Development Preliminary Budget Hearing for FY 2022
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…
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Testimony to the NYC Council Committee on Housing and Buildings, and Subcommittee on Capital Grants Preliminary Budget Hearing for FY 2022
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…
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NYC Council Lays Groundwork to Abolish Giuliani-Era Lien Sale
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.
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Testimony Before the NYC Council Committee on Housing and Buildings, Oversight Hearing on Community Land Trusts and Land Banks
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…
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Shelterforce: Giving Tenants the First Opportunity to Purchase Their Homes
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…
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Gothamist: Tenants Would Get Priority To Buy Their Landlord’s Building Under New Bill
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.
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Lets Be Real Episode 10: UPROSE
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…
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Next City: New York’s Best Kept Secret to Support Community Financial Institutions
Next City — One evening last September, at Brooklyn Cooperative Federal Credit Union’s main branch in Bed-Stuy, the credit union staff hosted a town hall to walk members through the credit union’s balance sheet — deposits, loans, other investments, capital reserves. CEO Samira Rajan emphasized the credit union’s key ratios, like its net worth ratio…
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Statement on Governor Cuomo’s “State of the State” Proposal to Expand Access to Safe and Affordable Financial Services
New Economy Project applauds Governor Cuomo’s proposal to provide $25 million in new seed funding over five years for the New York State Community Development Financial Institutions Fund (NYS CDFI Fund). By supporting the state’s robust network of 80+ cooperative and community-controlled credit unions and loan funds, New York will take a critical first step…