The East Harlem/El Barrio Community Land Trust/Mutual Housing Association was recently awarded a $500,000 grant through Enterprise’s new Community Land Trusts Capacity Building Initiative. The grant will provide funding to meet affordable housing development and neighborhood revitalization goals, including one to support affordable homeownership. Funding for the initiative comes from a bank settlement negotiated by New York State Attorney General Eric T. Schneiderman.
The East Harlem / El Barrio CLT has received technical support from affordable housing developers Banana Kelly Community Improvement Association and CATCH (Community Assisted Tenant Controlled Housing, Inc.), and CLT expertise from the Cooper Square Committee. We have also been working with Banana Kelly to acquire and rehabilitate a group of buildings for low-income rental housing in East Harlem that would be owned and operated as a CLT. The project will empower residents by providing them with community control over land.
Tenants will be trained to undertake the operation of the Mutual Housing Association (MHA), which is the ownership entity for the buildings in the CLT. All residents will be members of the MHA, along with being members of the CLT. Residents will be taught budgeting, corporate governance, legal rights and obligations of members and the MHA corporation, as well as being trained in how to fill vacancies, interview employee and housing applicants, prepare and manage budgets, oversee property management operations, review and act on asset management reports, and more. This leadership base will complement and assist in the local expansion of the East Harlem/El Barrio Community Land Trust/Mutual Housing Association.
Renovations are expected to begin in 2019.