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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

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Speaker 1: aliens have been arrested. If you are here illegally, your

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Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,

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Speaker 1: and deported.

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Speaker 2: You will never return.

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Speaker 1: But if you register using our CBP home app and

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Speaker 1: leave now, you could be allowed to return legally.

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will.

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Speaker 3: Be protected sponsored by the United States Department of Homeland Security.

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Speaker 4: So let me ask you this, because but you're still

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Speaker 4: a business man and you're in it to make money, right,

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Speaker 4: So when you're doing these projects and fifty of the

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Speaker 4: housing is going to low or middle income or you

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Speaker 4: just talked about where you can buy and it is

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Speaker 4: based off of your income, So how are you making

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Speaker 4: money off of this? The city gives you subsidies to

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Speaker 4: subsidize the price. So like if somebody should be paying

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Speaker 4: four thousand but they're only paying one thousand, is the

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Speaker 4: city subsidized three thousand dollars?

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Speaker 5: Absolutely?

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Speaker 3: So what will happened is there's two types of substis

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Speaker 3: capital subsidy and there's rental subsidy. So so capital subsidy

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Speaker 3: works like this, like, you know, we're doing the development

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Speaker 3: and it costs ten million to do the development, right,

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Speaker 3: but that development can only support six million of debt

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Speaker 3: or six million of capital because of the depressed costs.

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Speaker 5: The city's going to put in the additional subsidy. It's

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Speaker 5: a very simplistic way to look at it.

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Speaker 3: That's kind of how it works and how we get

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Speaker 3: paid is when you create that that budget, our fee

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Speaker 3: is part of the budget. So it's like it's right,

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Speaker 3: it's baked right in.

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Speaker 4: So it's like a building costs ten million, you have

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Speaker 4: six million. The city will put the other four million

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Speaker 4: in for you. But for them pointing four million in

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Speaker 4: for you, they're gonna say we need thirty percent of

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Speaker 4: the market rate. So then the math it works out.

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Speaker 4: It's kind of like an even exchange all lost. That's right, right,

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Speaker 4: right right.

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Speaker 5: They subsidized the city has to subsidize.

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Speaker 3: The building and the operations of affordable housing because otherwise

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Speaker 3: it wouldn't work.

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Speaker 4: What's the what how much do you need to have

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Speaker 4: an affordable housing building? Like like a percentage?

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Speaker 5: I mean, we do some.

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Speaker 3: We have a building that we're bringing to market right

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Speaker 3: now in the Bronx on Union Avenues, to ninety five

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Speaker 3: unit building.

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Speaker 5: It's one hundred percent affordable.

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Speaker 3: But that was done from the genesis with the city

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Speaker 3: with the intention of doing an affordable housing building. And

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Speaker 3: by the way, that's also a joint venture with the church,

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Speaker 3: where we did a deal.

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Speaker 5: With the church.

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Speaker 3: They owned the land and they had aspirations. I mean,

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Speaker 3: it's a really good, really nice church. They had aspirations

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Speaker 3: to stay there.

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Speaker 5: They wanted a new church facility.

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Speaker 3: And you know a lot of their members have passed

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Speaker 3: away or retired, moved away, and the congregation dwindled. So

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Speaker 3: when we were introduced to them, we had an idea, Listen,

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Speaker 3: let's work out an affordable housing deal. We brought them

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Speaker 3: into the partnership where they are thirty percent owner as well,

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Speaker 3: and they get a new church facility. But all that

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Speaker 3: was done under one budget that includes a developer fee.

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Speaker 3: So we're able to do you know, do good help

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Speaker 3: this church create affordable housing, but we made money by

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Speaker 3: doing it too.

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Speaker 5: That literally is what's happened to my church in the Michelle.

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Speaker 6: We're going to be on the bottom floor, there'll be

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Speaker 6: retail space, but they you know, there's going to be

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Speaker 6: a tower above it. You said something about, yeah, we

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Speaker 6: will sleep for a while, but now we need to

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Speaker 6: be woken. Part of it is seeing people like you,

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Speaker 6: but we need to see more people like you. And

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Speaker 6: I know you're on the board for the New York

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Speaker 6: Real Estate direct So can you talk about your role

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Speaker 6: and the importance that that organization plays in that process

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Speaker 6: of developing more developers that look like us?

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Speaker 3: Yeah, I mean so, NYREK is the New York Real

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Speaker 3: Estate Chamber. It is the leading advocacy group for all

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Speaker 3: the diverse developers in New York State. So if you're

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Speaker 3: you know, anyone doing any project of scale, and note

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Speaker 3: that's a black or brown developer. Female developers is a

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Speaker 3: member of this organization, and you know, thirty years ago

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Speaker 3: you wouldn't see anybody like us doing real estate right.

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Speaker 3: It has just been a very undiverse industry, no diversity.

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Speaker 3: And so I'm on the board. I'm actually chairman of

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Speaker 3: the board. Cheryl McKissick is a board member with me.

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Speaker 3: Don Peeples is a board member with me. But we

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Speaker 3: have a bunch of other board members and developers that

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Speaker 3: are for profit and not for profits, but we all

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Speaker 3: work towards the same thing, to increase access to economic

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Speaker 3: opportunity and capital for diverse developers. And we've been making

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Speaker 3: a lot.

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Speaker 6: Erners.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.

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Speaker 2: Have been arrested.

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Speaker 1: If you are here illegally, your next you will be

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Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.

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Speaker 2: You will never return.

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Speaker 1: But if you register using our CBP home app and

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Speaker 1: leave now, you could be allowed to return legally.

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security, We've

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Speaker 3: been i think achieving a lot of success. We are

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Speaker 3: looking to recruit and bring as many folks who are

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Speaker 3: interested in real estate development into the fold as possible

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Speaker 3: because of the knowledge that we have has to be shared.

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Speaker 3: It's the only way we're going to grow our ranks, right,

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Speaker 3: and I like to borrow, you know, rubric from our

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Speaker 3: Jewish brothers and sisters. I see so much collaboration in synagogues.

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Speaker 3: You go to any Synegague unit, see five or ten

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Speaker 3: businessmen who work together. And we try and do the

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Speaker 3: same thing. Don Peebles always says, you know, when he

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Speaker 3: sees another black developer, he doesn't see a competitor, he

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Speaker 3: sees a potential partner. And that's how you know, we

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Speaker 3: look at it. In Iraq, we are doing a lot

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Speaker 3: of deals that are larger because we collaborate with each other,

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Speaker 3: like Affirmation Tower, you know, the People's Organization, my company,

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Speaker 3: the Bolstero in Atlanta and Third and Urban one an

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Speaker 3: RFP last month to develop a huge site next to

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Speaker 3: Microsoft's ninety acre campus.

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Speaker 5: Right.

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Speaker 3: It's just going to be you know, one point two

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Speaker 3: million square feet that will develop, which will consist of

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Speaker 3: four hundred and ninety five units of houses, an office building,

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Speaker 3: and a hotel. That's going to be done right at

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Speaker 3: the bank Head train station. We're going to build a

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Speaker 3: platform over transition in Atlanta and go vertical, and we're

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Speaker 3: getting busy in Atlanta anyway. We love that market. We

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Speaker 3: want to do as much as possible so growing markets flourishing.

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Speaker 3: The government is super supportive of these types.

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Speaker 5: Of public private partnerships.

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Speaker 3: They're aware of developing assets in an economically diverse way,

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Speaker 3: so that we could create some affordable housing in combination

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Speaker 3: with commercial and market rate development just makes a lot

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Speaker 3: of sense. So collaborating together allowed us to win that.

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Speaker 3: And there's we have a lot of instances even amongst

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Speaker 3: other direct members where you know, other members have collaborated

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Speaker 3: or winning There's a there's a you know, group one,

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Speaker 3: a great project up in Boston associated with a train

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Speaker 3: station not not too long ago. They're winning deals with NISCHE,

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Speaker 3: the New York City Housing Authority, where we have our

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Speaker 3: members taken down you know, five six, seven, eight hundred

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Speaker 3: unit that they're going to renovate and put back into

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Speaker 3: service and help improve the overall physical condition of those

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Speaker 3: buildings that they've been so dilapidated for so long. But again,

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Speaker 3: this is all being done through collaboration. So we want

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Speaker 3: to work with as many folks who are interested in

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Speaker 3: real estate development and we welcome people into the fold,

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Speaker 3: and we want to grow our ranks.

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Speaker 6: It sounds like you have almost right if you're talking

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Speaker 6: about Iraq, that's obviously here in New York, but working

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Speaker 6: in Boston, having development in Atlanta, you're working with other

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Speaker 6: municipalities domestically. Is there one or is there thoughts of

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Speaker 6: this creating one that can create on a national level?

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Speaker 5: We'd love to, man.

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Speaker 3: I mean, I think when you look at what's happening again,

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Speaker 3: that seven million unit housing opportunity, right, I would like

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Speaker 3: to see a lot of minorities and women take advantage

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Speaker 3: of it, right nationally, So I look at direct as

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Speaker 3: being a model what can happen through collaboration. There's also

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Speaker 3: a lot of advocacy that we do with elected officials, right.

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Speaker 3: We have to spend a lot of time with not

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Speaker 3: only elected officials, but government agencies on the state, federal,

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Speaker 3: sometimes in city level, trying to make sure economic opportunity

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Speaker 3: is awarded fairly because for a long time, you know,

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Speaker 3: we were persona non grata. There was nothing coming to us.

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Speaker 3: And it's a shame because you have in most urban environments,

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Speaker 3: in most cities around the country, no mayor gets elected

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Speaker 3: without the black vote. So we're going to put people

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Speaker 3: in office to make sure we get in a piece

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Speaker 3: of economic pie. So we'd love to take Iraq or

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Speaker 3: an organization like Iraq nationally and have the same type

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Speaker 3: of contract and the same type of mechanisms we use

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Speaker 3: here replicated around the country.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.

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Speaker 2: Have been arrested.

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Speaker 1: If you are here illegally, your next you will be

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Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.

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Speaker 2: You will never return.

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Speaker 1: But if you register using our CBP home app and

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Speaker 1: leave now, you could be allowed to return legally.

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 5: Sponsored by the United States Department of Homeland Security,