The community land trust (CLT) movement is young but expanding rapidly. Nearly 20 community land trusts are started every year as either new nonprofits or as programs or subsidiaries of existing organizations. Fueling this proliferation is a dramatic increase in local government investment and involvement. Over the past decade, a growing number of cities and counties have chosen not only to support existing CLTs, but also to start new ones, actively guiding urban development and sponsoring affordable housing initiatives. Two key policy needs are driving increased city and county interest in CLTs, particularly in jurisdictions that put a social priority on promoting homeownership for lower-income families and a fiscal priority on protecting the public's investment in affordable housing. Long-term preservation of housing subsidies. With local governments now assuming greater responsibility for creating affordable housing, policy makers must find ways to ensure that their investments have a sustained impact. CLT ownership of the land, along with durable affordability controls over the resale of any housing built on that land, ensures that municipally subsidized homes remain available for lower-income homebuyers for generations to come. Long-term stewardship of housing. Preserving housing affordability requires long-term monitoring and enforcement, an administrative burden that local governments are neither equipped for nor generally interested in taking on. CLTs are well positioned to play this stewardship role by administering the municipality's eligibility, affordability, and occupancy controls, while also "backstopping" lower-income owners to protect subsidized homes against loss through deferred maintenance or mortgage foreclosure. Municipal support comes in a variety of forms, depending on how well established the CLT is. For example, local governments may offer administrative or financial support during the planning and startup phase, followed by donations of city-owned land and grants or low-interest loans for developing and financing projects. They may help a CLT acquire and preserve housing provided by private developers to comply with inclusionary zoning, density bonuses, and other mandates or concessions. As the CLT builds its portfolio, municipalities may provide capacity grants to help support its operations. Finally, local jurisdictions may assist CLTs by revising their tax assessment practices to ensure fair treatment of resale-restricted homes built on their lands. As welcome as their support has been, local governments may inadvertently structure CLT funding and oversight in ways that undermine the effectiveness of the very model they are attempting to support. The challenge lies in finding the most constructive ways of putting municipal resources to work in pursuit of common objectives. Based on a review of three dozen municipal programs and in-depth interviews with local officials and CLT practitioners, this report describes the mechanisms and methods that cities across the country are using to structure their investment in CLT startups, projects, and operations. In addition to describing the full range of options for providing municipal support, the report highlights specific model practices for rendering that assistance. These practices have the most potential to balance the interests of all parties by: protecting the public's investment in affordable housing; expanding and preserving access to homeownership for households excluded from the market; stabilizing neighborhoods buffeted by cycles of disinvestment or reinvestment; and ensuring accountability to funders, taxpayers, and the communities served by the CLT. The city-CLT relationship continues to evolve. This report ends with a discussion of three emerging trends: shifts in the city's role from supporter to instigator, and from participant to g

The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

A compelling case for reparations based on powerful, first-person accounts detailing both the horrors of slavery and past promises made to its survivors. Katherine Franke makes a powerful case for reparations for Black Americans by amplifying the stories of formerly enslaved people and calling for repair of the damage caused by the legacy of American slavery. Repair invites readers to explore the historical context for reparations, offering a detailed account of the circumstances that surrounded the emancipation of enslaved Black people in two unique contexts, the Sea Islands of South Carolina and Davis Bend, Mississippi, Jefferson Davis’s former plantation. Through these two critical historical examples, Franke unpacks intergenerational, systemic racism and white privilege at the heart of American society and argues that reparations for slavery are necessary, overdue and possible. Praise for Repair “Essential . . . Franke engages the original debates concerning the conditions upon which newly freed Black people would rebuild their lives after slavery. Franke powerfully illustrates the repercussions of the unfilled promise of land redistribution and other broken promises that consigned African Americans to another one hundred years of second-class citizenship. Franke passionately argues that the continuation of those vast disparities between Black and white people in U.S. society—a product of slavery itself—means that the struggle for reparations remains a relevant demand in the current movements for racial justice.” —Keeanga-Yamahtta Taylor, author of From #BlackLivesMatter to Black Liberation “Repair revisits the revolutionary era of Reconstruction . . . when the redistribution of land and wealth as recompense for unrequited toil could have secured genuine freedom for Black people rather than a future of racial inequality, exploitation, marginalization, and precarity . . . . Franke makes a persuasive case for reparations as at least a first step toward creating the conditions for genuine freedom and justice, not only for African Americans but for all of us.” —Robin D. G. Kelley, author of Freedom Dreams: The Black Radical Imagination “Katherine Franke argues for a type of Black freedom that is material and felt—freedom that is more than a poetic nod to claims of American moral comeuppance. Repair . . . is a critical text for our times that demands an honest reckoning with the consequences, and afterlife, of the sin that was chattel enslavement. It is bold call for reparations and costly atonement.” —Darnell L. Moore, author of No Ashes in the Fire: Coming of Age Black & Free in America “Katherine Franke is consistently one of the sharpest, most conscientious thinkers in progressive politics. In a time defined by crisis and conflict, Katherine is among that small number of thinkers whom I find indispensable.” —Jelani Cobb, New Yorker columnist and author of The Substance of Hope