What is East Bay Permanent Real Estate Cooperative (EBPREC)?
EBPREC is a people-of-color-led multi-stakeholder co-operative that supports Black, brown, and allied communities to cooperatively organize, finance, co-steward, and long-term asset manage land and housing in Oakland and the East Bay.
What is the short term vision of EBPREC?
Our short-term goal is to bring in non-extractive capital that supports affordable and sustainable project outcomes. Non-extractive capital is not over-determined by donor interests, and it is deployed at non-extractive rates that are well below the typical six percent and above rates frequently offered to grassroots and community based projects.
We then offer that capital to community members as stake in a collective ownership of land and housing for Black and brown Oaklanders. We offer the owners technical assistance to get their cooperatives running, build their governance systems, and plan and manage their housing and mixed use acquisitions.
What has bloomed out of that modest goal has been a very wide range of possibilities. It’s become clear that EBPREC is not only effective, but it is a critical design for community development, land sovereignty, and economic solidarity among underserved communities.
Read the rest at Inequality.org
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