A collaborative of nonprofit affordable housing organizations has announced the creation of the Interboro Community Land Trust (CLT), NYC’s first citywide CLT. With partners such as the Center for NYC Neighborhoods (CNYCN), the Habitat for Humanity New York City (Habitat NYC), the Mutual Housing Association of NY (MHANY) and the Urban Homesteading Assistance Board (UHAB), it will aim for the creation of permanently affordable housing for low-income communities to prevent economic inequalities that result in the diminishing of diversity of a city.
“The Interboro Community Land Trust provides a mechanism that will balance access to affordable homeownership for low- and moderate-income New Yorkers with opportunities for building equity that can finance future homeownership, education or other personal needs,” explained Ismene Speliotis, MHANY executive director, in the announcement.
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