In January 2021, in response to advocacy the Abolish the NYC Tax Lien Sale Coalition, the NYC City Council passed legislation charting the course for ending New York City’s tax lien sale (Local Law 24 of 2021).
If the owner still could not pay back the lien, Segal said, they could “decide that they want to transfer the value of their land to the community land trust as a way of resolving the debt.”
TakeRoot provides legal and technical support to grassroots organizations creating Community Land Tursts in order to preserve long-term affordability and economic investment in their communities.
The latest city budget includes $750,000 to grow an underutilized housing model that creates affordable homes in rapidly gentrifying communities—a major win for housing advocates. The funds will go toward incubating community land trusts (CLTs).