Save the date!: Saturday, February 6th, 2:30pm

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Dear NYC REIC Members,

The NYC REIC has elected a Steering Committee!

Members are (L to R): David Glick, Joe Rinehart, K. Samuels, Adele Eisenstein, Mara Kravitz, Todd Arena, Sam Gray, and Oksana Mironova (elected in absentia).

The first meeting of the Steering Committee will be held on Saturday, February 6, at 2:30 p.m., location TBD - please check the REIC calendar. As stated in the Charter, all REIC members are invited to attend monthly Steering Committee meetings and to share their questions and concerns at a designated time period during the meeting.

A Meet the Candidates meeting was held on January 14th, where final nominations were made and accepted - 11 nominations - and each candidate had a chance to introduce themselves. The final draft of the Charter was also presented and discussed.

At the All-Member REIC Meeting on January 28th, first statements were made by the out-going Interim Facilitation members, then workgroup report-backs were given - from Public Buildings Inventory Group, Project Scoping Group, Case Studies/REIC U, and then a longer presentation from the Governance Workgroup about the Charter and the Election process. Following that, Steering Committee nominees (10) once again introduced themselves and gave brief statements, and then the polls were open for all current REIC members to vote for up to 7 candidates.

Once the votes were tallied, there were 6 candidates who had received the highest number of votes, and a tie for 7th place. There was a discussion among members who were still in the room, and it was decided unanimously to include both of the two candidates who had tied in the Steering Committee and therefore have a total of 8 members.

The NYC REIC now enters phase II!

(Tallying the votes. Photo: Robert Chin)

Read on for ways to get involved as we build our cooperative and formalize our structure.


Scroll down for opportunities to help by facilitating upcoming meetings, making calls to remind members about upcoming events, helping with our member data management and joining workgroups.


You will be an active member once you have done these three things:

(1) Read and signed the member agreement (in person or online);

(2) Contributed a membership fee of $10 (in person); and

(3) Attending a quarterly All-Member NYC REIC meeting (next chance: April 2016!).

You will then be expected to conduct yourself in accordance with the principles of cooperation. Active members only can participate in Workgroups and the Steering Committee and make nominations, as described below.


REIC U (the Case Studies Workgroup) is doing incredible research into best practices that can be applied to your nascent social justice-driven real estate investment projects as well. Scroll down for a detailed report-back.




Arts & Media designed the ballot and created the Steering Committee Charter-At-A-Glance (read it here!) for last week's Steering Committee election.

Why are you an REIC member? We want to know! If you are interested in participating in this oral history project, contact Doron Shiffer-Sebba, your fellow REIC member (  

Do you know of any upcoming grants that Arts & Media could apply for to cover the costs of a short film about small shop owners and other at-risk-due-to-crazy-real-estate businesses/organizations represented within REIC membership? If so, please contact Caroline ( or Lise (

REIC’s blog: Please contact Leland at to post on a topic specific to your workgroup or anything else related to the REIC.

Check the calendar for our next meeting as it has not yet been scheduled.


Can you help enter new member data? We need you. Email with the subject PHONE TREE if this is you!



The Scoping Workgroup has had an energetic and productive few weeks! We produced a map of REIC member locations to further understand what communities the REIC might decide to locate a project in. We created a tentative schedule, including fundraising, building acquisition, tenant acquisition, and design/renovation, to project what the long-term scope and timeline of a project might be. We also ran a series of internal workshops to come up with three central questions that we believe should be answered to help the REIC and the Steering Committee move forward.

Our three questions are: 1) What specific stages of the project will the REIC be responsible for?  2) Is the REIC an investor, landlord, project manager (of a tenant), or participant? 3) Is the REIC primarily reflective of member needs, or responding to other issues?
REIC member map (as of Jan 28, 2016)



Tentative project schedule


If you’re interested, see the full report we gave at the all-member meeting on January 28th.
We’re also always looking for new members. If you are interested in scoping/project logistics, and helping the REIC find action steps for moving forward with a project, email us at: !


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(Meet the Candidates meeting. Photo: Robert Chin)

The Governance Workgroup met multiple times over the winter holidays to synthesize feedback we received from REIC members during the December 14th meeting on the proposed rights and responsibilities of the Steering Committee. Based on that feedback, we wrote a draft of a Charter that would empower the Steering Committee and sent it out to the membership on January 5th to receive final comments, and the period to nominate REIC members to the Steering Committee was then opened. A subset of the Governance WG formed an elections monitoring committee, in charge of creating the online nomination form and notifying members who had been nominated. On January 14th, we held an all-member meeting to take final nominations and to allow members who accepted their nominations to introduce themselves. There were a total of 11 accepted nominations. At this meeting, we also presented the final draft of the Charter and received final feedback. Through a show of support by members at the meeting, the Charter was put into place. See the full Charter here.

The election monitoring committee, within the Governance WG, then helped coordinate the elections for the meeting on the 28th, including designing the election process and making proxy forms available for those members who could not attend in person. We tallied the votes after the meeting was over, and we are excited and proud to see the newly elected Steering Committee finally in place!
Feel free to contact us at



In late December, Case Studies split reading material up between group members, allowing individuals to focus on topics like Perpetual Affordability, Social Justice, and Governance. On January 7th the group met to discuss what members had learned. New models for the structure of the REIC emerged, such as nesting a series of neighborhood community land trusts (CLTs) within a larger community development financial institution (CDFI) or other umbrella organization.

(Case Studies / REIC-U meeting January 7, 2016. Photo: David Glick)

Members also discussed how best to serve the Steering Committee once it was formed later in the month, and came up with a goal of giving the committee a set of best practices based on the research that has been conducted so far. The formation of REIC-U, a group dedicated to helping REIC and community members become more informed about cooperative structures, also received mention, and will be a larger focus in the months ahead as the REIC membership starts to make decisions regarding the location and structure of our cooperative venture.

As always, new members are welcome to join the group!

To reach Case Studies Workgroup by email:


PBIG (Public Buildings Inventory Group & Community Outreach)

PBIG held a meeting on January 12th at Momenta Art in Bushwick, where we discussed a number of MTA properties no longer in use, especially one in the South Bronx that is also of potential interest to Spaceworks. We discussed possible cooperation with Spaceworks ED Paul Parkhill, also a member of the REIC.

We also planned upcoming joint meetings with the Case Studies workgroup, as well as possibly with Arts & Media, and maybe a revival of the Project Vetting workgroup.
Just prior to the All-Member REIC Meeting on January 28th, we got word that the decision on landmarking the Coney Island Pumping Station should come at the end of February.

With regard to the former Health Center in Jamaica, a round-table is planned at the nearby church to discuss questions of land use and alternative structures, Gentrification, Displacement and Land, on February 17th at 7 p.m.

If you would like to attend, the church is: Holy Ghost Upper Room Filling Station Ministry, Inc., headed by Pastor Johnson, and located at 145-59 105th Ave., Jamaica NY 11435.

If you need further information, you can reach out directly to: Rafael Jose:

Please check the REIC calendar for the next PBIG meeting.

If you would like to get involved, you can also always email us at:

One more note:

A shout-out and a big thank-you are due to Urban Cartographies for a generous donation to Spaceworks, Inc. to support the expenses incurred by the NYC REIC in its incubation!


Become a Member of NYC REIC
There are 4 requirements for active membership in NYC REIC:

(1) Reading and signing the member agreement;

(2) Contributing a membership fee of $10;

(3) Attending a quarterly All-Member NYC REIC meeting (next chance: April 2016!);

(4) Endeavoring to conduct membership in accordance with the principles of cooperation.

Check out our Calendar:
We maintain a Google Calendar with all workgroup meetings. Please add this to your gCal, or look at to stay updated with our meeting times:  

Please Help Cover our Current Operating Expenses!
You can support REIC’s development by making a charitable donation during this incubation period for very basic expenses, like the monthly charges that must be paid to circulate this e-newsletter. Please contact us at if you’d like to make a charitable contribution (not an investment) during the incubation period of the NYC REIC. 

REIC Learn and Share

What the REIC? Check Out Our Video:

Please take a minute, literally, to check out this amazing video that NYC REIC members produced to explain the REIC in under 60 seconds, and share widely.


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In Cooperation,  

New York City Real Estate Investment Cooperative

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