Featured stories
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City Limits: As COPA Makes a Comeback, What Does it Mean for Land to be Communally Owned?
The Community Opportunity to Purchase Act (COPA) has risen from the ashes, and aims to give a boost to nonprofit organizations that promote community ownership—including community land trusts, which allow land to be directly owned by members.
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Brick Underground: Community Opportunity to Purchase Act has a Good Chance of Passing Under Mamdani
Last month, New York City Council Member Sandy Nurse revived legislation that would allow certain nonprofits and community land trusts a first shot at buying struggling multifamily properties—and this time, the mayor is in favor of the bill.
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Next City: A Community Land Trust Is Purchasing Commercial Property in NYC for the First Time
New York City’s growing community land trust movement will hit a new milestone next month, as the East New York Community Land Trust is set to become the first in city history to purchase a commercial property off the private market.
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Wired: AI Is Taking Over the Most Cursed Job in the World
She introduced herself as Eve, but Ben knew right away that the voice on the other end of the line was a bot. Eve knew his name. She also knew how much money he’d owed a former landlord ($266). She didn’t seem to know that he’d settled with a collection agency five months prior. Eve…
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COPA Reaches Majority Support in City Council Just One Week After Reintroduction
On Thursday, the Community Opportunity to Purchase Act (COPA) secured majority support in the New York City Council only one week after its reintroduction, reaching 26 sponsors—enough support to pass the legislation.
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Council Member Nurse, Tenants, and Community Groups Announce Reintroduction of COPA with Rally at City Hall
Tenants, affordable housing organizations, and elected officials gathered at City Hall on Thursday with NYC Council Member Sandy Nurse to announce the reintroduction of the Community Opportunity to Purchase Act (COPA), landmark legislation aimed at combating displacement, preserving affordable housing, and expanding community ownership amid New York City’s deepening housing crisis.
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Spring into Solidarity!
In our latest newsletter, we share a new national profile of our work advancing community ownership; highlights from the annual “Worst Banks Awards;” our new Fintech Paycheck Extraction Clock; and a major housing victory for low-income tenants and homeowners.
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New Economy Project Advances Community Ownership in New York
New Economy Project was featured in the latest case study in the Center for Community Investment’s Ecosystem Stewardship: Building the Infrastructure for Shared Ownership series.
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Shelterforce: How Public Banks Can Meet Public Needs
What could your community do if your city or state owned its own bank? In 2020, the nonprofit organization Action Center on Race & the Economy published a study showing that state and local governments pay $160 billion in annual interest on the money they borrow.
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Federal Judge Deals Major Blow to Predatory Fintech, Says “Earned Wage Access” Advances Are Payday Loans
Last week, a second federal court in New York joined a growing number of courts rejecting the fintech industry’s tired claim that so-called “earned wage access” (EWA) cash advances aren’t loans. In Freeman v. Bridge It, active-duty service members sued EWA company “Brigit” for making high-cost loans in violation of the federal Truth In Lending…