Author: Mara Kravitz
Big News: NYC REIC is in Business!

 

ATTORNEY GENERAL APPROVES NYC REIC

Happy new year! We have great news:

We now have approval from the New York State Attorney General Real Estate Bureau to collect money from members and use it for real estate investment. Here is our application and the approval. Join now so you can shape and invest in our first project. Members will be endorsing specific projects for investment at the upcoming 2018 all-member meeting.

Do you know a place we should work together to secure for community use? Suggest a project.

Board Elections of the NYC Real Estate Investment Cooperative are

Election postponed! join us on November 12

Fellow member-investors, friends and neighbors,

The diligent readers among you of our newsletters know that we recently announced our intention to hold the First Annual Election of the new Board of Directors at our upcoming Fall All-Member Meeting.

After much deliberation, the Founding Board (formerly the Steering Committee) and the Nominating Committee has decided to postpone the elections until Spring 2018.

This was not an easy decision for us to come to. The Board has been working hard to obtain the approval of the Attorney General’s Office for our capital raising plans. And our Nominating Committee has

Does It Fit Us? An activity for learning to see potential NYC REIC projects

The Draft Project Selection Criteria (version 8), created by members of our Scoping Committee, is a checklist that can be applied to potential properties to see if they fit our scope. It will only let through projects that fit our mission of investing in permanently affordable space for community, small business and cultural use in NYC.

Our goal is for all our member-investors to be able to participate in finding the right projects for us. The Draft Project Selection Criteria is like a pair of glasses: when member-investors wear them, opportunities become visible.

This brief activity was created by

RSF Social Finance’s Reimagine Money Blog: Democratic Finance for Affordable Space in NYC

RSF Social Finance Blog Post

Read the full post on the RSF Social Finance’s Reimagine Money Blog HERE.

We have received a grant of $1000 from RSF Social Finance, and would love more gifts and grants to support the incubation phase of the investment cooperative. If you would like to make a tax deductible donation, please email info@nycreic.com as we can receive tax deductible donations through Spaceworks, our fiscal sponsor.

April 8 MEMBER NEWSLETTER: All-member meeting on Thursday, April 28! NYCREIC’s 1-Year Anniversary!

Hello REIC Members!

It’s our quarterly All-Member Meeting, and our first birthday!

Our next All-Member Meeting will be held Thursday, April 28th, from 6:30-8:30pm at Middle Collegiate Church in the East Village. At this meeting, we will be hearing report-backs from our democratically-elected Steering Committee and from our four current workgroups (WGs), as we enter the second quarter of the year. We will also hear from the Community Economic Development Clinic of Fordham Law School, which is generously providing pro bono assistance to navigate challenging legal questions around incorporating and investing together. We will also hear about new committees in