Goldstein Hall PLLC is at the forefront of efforts in New York City to establish Community Land Trusts (“CLTs”).
Community Land Trusts are not-for-profit, community based organizations, that become stewards of the housing to ensure its long-term affordability. CLT’s are typically governed by a board of CLT residents, other community residents and public representatives. The trust acquires the land and any buildings thereon and maintains ownership of the land permanently.
The trust enters into a long-term, ground lease with a separate not-for-profit for the buildings on the land, and that not-for-profit conveys individual apartments to residents.
- Allowing clusters of buildings to pool resources;
- Protecting residents from economic downturns due to the long-term affordability;
- Creating direct participation from the community as CLT Board roles and involvement in the decision-making process of their local assets;
- CLT’s often provide educational programs, sustainability and ‘green’ energy initiatives and generate commercial or community facilities for their buildings and neighborhoods.
Goldstein Hall PLLC has been representing the Board of Directors of the East Harlem/El Barrio Community Land Trust, Inc. in its efforts to create a CLT in East Harlem to protect against the effects of rapid gentrification. Our work has included drafting bylaws, a ground lease and the Board’s 501(c)(3) application. In addition, we have been involved in all aspects of discussions with HPD and tenants to move City-owned property into the CLT. Given our expertise, other groups regularly call upon the firm for guidance about establishing CLTs.
In a precursor to the modern CLT movement, Goldstein Hall counts the Cooper Square MHA as a long-time client of the firm.