On his way out the door, Eric Adams did the bidding of the real estate lobby and vetoed the Community Opportunity to Purchase Act (COPA), a bill that would give New Yorkers a powerful new tool to stabilize and protect existing affordable housing. Council Speaker Julie Menin now has 30 days to hold a vote that would allow the Council to defend its institutional integrity, override Adams’ lame-duck veto, and enact COPA.  

Village Preservation is part of a citywide coalition supporting COPA. It would give community land trusts and other qualified nonprofits a first right to buy multifamily buildings when a landlord decides to sell. The bill is modeled on similar legislation enacted in other cities and credited with preserving tens of thousands of affordable homes. It would help keep predatory interests away from our housing, stem the terrible loss of existing affordable housing we see throughout our city and neighborhoods, and help protect older building stock from speculative demolition. 

COPA was passed by an overwhelming majority at the City Council in December. Join us in calling on Speaker Menin to bring Adams’ veto to vote so that the Council can override it on behalf of the communities it represents.

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