The Blueprint is NOT like CLTs. The key to CLTs is its governance structure whic gives residents a key stake in how the property is regulated and governed. The Blueprint does not do this. And arguably, maybe definitely, lessens any control tenants had.. more bureaucracy..https://twitter.com/BorisSantosBK/status/1373082092825931776 …
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Replying to @ka_hackett
Several things, and I’m glad we can touch on the nuances + grateful for the added info. I’d argue 1) The default part is interesting bc the title to the deed (the land the buildings are on) should go to governance structure like 501c3-CLT so that residents can make choices, yes1/
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Replying to @BorisSantosBK @ka_hackett
The non-profit industrial complex has a lot of work to do before I personally can trust them with managing public housing. Their internal governance structures need some real democracy coming from the bottom up. Not from the unelected directors and boards.
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Agree - will weigh in on one tiny bit and more tmrw: clts = non profits. Anyone can make one. There is no requirement for democratic elex! Lots to be suspicious of in the model! More mañana !!! Me and my 6 friends could make one. It’s not inherently democratic.
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This is also true but I think there’s creative ways to address; there are bogus unions also (esp within private carting industry nyc world lol but that’s besides the pt ofc).
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I’m pretty sure there is a lot written in the blueprint to prevent foreclosure in the event of default - essentially - it’s not a mortgage, it’s a city bond. The city of NY would be liable, not the buildings. Will find bc im not sure.
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Actually we have confirmation from NYCHA that the Trust will use its leasehold interest in the buildings as collateral for debt. That means if the Trust can't pay, the prop can be foreclosed and sold to to a private landlord.
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Yes that is my fear as well and I asked someone abt it .... I’m going to dig up the answer. I could be totally wrong. Btw I don’t believe NYCHA should be privatized or financialized but I’d like to ground our opposition in facts
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