ccltnyc-blog

[ccltnyc-blog]

[ccltnyc-blog]

Cultural spaces are a key element of public life in New York City. They provide places for all kinds of New Yorkers to come together, play, learn, perform, and grow in creative ways. Without them, our city just wouldn’t be the same.

Most cultural spaces in NYC are non-profit organizations, driven by a mission to foster creative culture instead of pursuing profits. That’s part of what makes them so special - but it also makes them particularly vulnerable to the pressures of real estate speculation and gentrification.

The City of New York has contributed public funds to purchase the buildings in which some cultural institutions are located, allowing these organizations to remain in place and serving their local communities long-term. Unfortunately, the restrictive covenants which accompany the dispersal of such public funds expire after 30 years, the length of a municipal bond. After 30 years, those properties can be sold on the private market, threatening the public benefit of our cultural spaces, enriching private interests, and paving the way for real estate speculation.

Public money invested in non-profit cultural institutions can and should serve the public in perpetuity.

A citywide cultural community land trust (CLT) can protect and preserve cultural spaces in NYC.

A CLT is a mechanism for community control of land resources. Public money invested in non-profit cultural institutions can create permanent community assets by protecting their spaces through a CLT, ensuring that those institutions will remain accessible for New Yorkers. A citywide cultural community land trust will create a platform for preserving the spaces associated with these crucial institutions, allowing them to continue to serve our communities and enrich the city as a center of arts and culture for generations to come.