New York, NY. Nixon Peabody LLP advised in the founding of Interboro Community Land Trust, a collaboration with New York City nonprofits Habitat for Humanity New York City, Center for NYC Neighborhoods, MHANY Management Inc., and the Urban Homesteading Assistance Board.
Interboro CLT also received a $1M investment towards its Growth Fund from corporate partner Citi Community Development to help make the community land trust one of the nation’s largest. Community land trusts are a key resource for cities across the U.S. in creating permanent homeownership opportunities for lower-income households.
Erica F. Buckley, partner in Nixon Peabody’s Real Estate and Affordable Housing practices, served as counsel to Interboro CLT and will continue to provide guidance to the four founding nonprofits.
For further information, please see the press release: Citywide Collaborative and Citi Community Development Announce the Creation of the Interboro Community Land Trust and a $1MM Interboro CLT Growth Fund.