Big News from the Big Apple 🍎🗽🌃
V.2, N.03
“Start spreading the news…,” the Frank Sinatra song goes… “I want to be part of it, New York, New York.” In this issue, we have four stories of how the Bronx and Brooklyn are leading the way for amazing things happening right now in Gotham City.
First, the Bronx Community Land Trust is one of eighteen land trusts in the City acquiring abandoned properties to create affordable housing. The City itself is still resolute to sell its properties to high-end developers rather than nonprofit homeownership organizations. But the Bronx Community Land Trust is pushing back and about to make its first acquisition. All the land trusts in the City are lobbying together to make affordable housing projects the priority for fire-sale properties – similar to what’s happening across the river in New Jersey. (See our last issue).
Our second New York story is about a new program by the Center for NYC Neighborhoods to educate black households in the North Bronx and Central Brooklyn on how to retain wealth through better home-ownership strategies. The need is urgent. A recent study found that black homebuyers pay $7,000 more in closing costs and higher interest rates, yet still have declining home-ownership rates in the city.
A third story is about how two of Brooklyn’s biggest health care systems have just committed to buying at least 10% of their supplies from local minority- and women-run small businesses. And a fourth is about a black-led, worker-owned food cooperative in Brooklyn.
As the song goes, “If I can make it there, I'll make it anywhere. It’s up to you….”
– Michael Shuman, Publisher, The Main Street Journal
NEWS
A Community Land Trust Takes Root In The Bronx, The Riverdale Press (July 15)
Building Black Intergenerational Wealth Through Estate Planning in New York, Next City (July 14)
Leveraging Health Care Spending To Build Community Wealth In Brooklyn, Gotham Gazette (July 14)
A Vision For A Community-Based Micro Food Hub In Brooklyn, Civil Eats (July 11)
PARTNER VOICES
Transforming Low-Wage Healthcare: The Promise of Worker Ownership, Nonprofit Quarterly (July 18)
Closing The Wealth Gap Via Entrepreneurship Through Acquisition, New Majority Capital (July 11)
$6 Million+ In Capital For Our Clients, Prospera Partners (July 19)
EVENTS
ImpactPHL Sustainable Fashion X Impact Investing – Webinar. Tuesday, August 9, 1-2pm ET. Hear from two sustainable fashion founders from the Greater Philadelphia region. Register here.
SuperCrowd22 – Online Conference. September 15-16. National Coalition for Community Capital (NC3) is co-hosting the biggest impact crowdfunding conference of the year. Use the discount code NC3friend to get $50 off the $199 registration price. If you’re an NC3 member, you can access the conference for just $75.
Raise Capital On Your Own Terms: Build It, Fund It, Grow It! – Webinar. November 2-4. Gain invaluable insights around raising capital for your business without compromising your vision or values. In three days, you’ll learn how to design an effective investment offer, identify values-aligned investors, and build the confidence and resources to enable your business to grow and thrive. Early bird ticket sales end August 15, 2022.
ICYMI
Electric Co-ops Are Well Situated To Lead The Green Energy Transition, Shareable (May 31)
Addressing Land Insecurity For Small Farms, Schumacher Center for a New Economics (May 27)
JOBS BOARD
Mission Driven Finance is seeking a Salesforce & Technology Administrator.
BECOME A MAIN STREET CHAMPION
Have you always wanted to start a local investment club? A website of local investment offerings in your community? A local investment study group? Whatever your interest or ambition, we invite you to “go public” to help others in your region find you, scheme with you, and start a local investment movement in your community. Our goal is to identify dozens, then hundreds, then thousands of Main Street Champions like you across America. We already have Main Street Champions across the U.S., from San Luis Obispo, CA to Providence, RI, and even Australia! Together, we can move our hard-earned savings from Wall Street back into our communities. Fill out the intake survey below to join this first cohort!
SOME OF MSJ’s VINTAGE ISSUES
About The Main Street Journal
The Main Street Journal aims to catalyze the movement of $50 trillion from Wall Street to Main Street to facilitate economic development and economic justice. It’s sponsored by the National Coalition for Community Capital, with a grant from the Heron Foundation. We welcome feedback about everything, from our design to content. And we welcome suggestions of other groups to involve as partners, and other information to include. Please send ideas to Sophia Leswing at sophia@main-street-journal.com.
PARTNERS
We welcome any nonprofit or for-profit committed to local investment as a partner. If your organization is interested, please contact Sophia Leswing at sophia@main-street-journal.com.