Millions of Americans are struggling to make ends meet in the midst of this pandemic. But predatory corporations continue to care about just one thing - their bottom-line. Help us fight the battle against AIG/SunAmerica to protect affordable housing in New York City and across America.

In 1999, RiseBoro Community Partnership, entered into an agreement with AIG/SunAmerica to renovate a 34 unit building on 420 Stockholm Street in Bushwick. As is standard for such agreements, it was agreed that AIG/SunAmerica would transfer its ownership stake to RiseBoro when the credit period expired.

Now, seeing dollar signs in a booming neighborhood, the corporation is claiming they never intended to sell their stake and is willing to spend countless dollars on a premiere law firm to defend its actions.

They're probably expecting us to give up rather than spend money on litigation - but they're wrong. We're taking them to court because the results of this case affects every single nonprofit developer not just in New York City, but the whole country.

If we lose, it could upend one of the best ways to finance affordable housing.

Struggling residents shouldn’t be punished just because a corporation only now sees value in their neighborhood. The Bushwick of today looks differently than it did in the 1980s, much like other cities that have gone through gentrification. But behind that shiny facade, 24% of residents live in poverty in Bushwick as the average rent skyrockets.

We MUST keep Stockholm Manor affordable for existing and future families! A win for AIG/SunAmerica could further embolden corporations to test the financial limits of their nonprofit partners.

Win or lose, our case shouldn’t be the end of the story. Federal and local government should step in to clarify the rules around right of first refusal. It would need to be reintroduced in the Senate, but The Affordable Housing Credit Improvement Act would be a great start. The Washington State Finance Commission recently adjusted their tax credit process by requiring applicants to reveal whether they have previously been involved in litigation surrounding affordable housing. Even one of these changes would make it harder for corporations to renege on their word.

This is an exhausting battle but it’s one we feel we have a moral obligation to undertake. We’re not the first nonprofit to be bullied by a corporation over affordable housing but we hope this case will make us the last.

Sign below today to show your support for the Affordable Housing Credit Improvement Act and a continued effort at all levels to prevent corporations from exploiting America's most vulnerable communities.