LEV stands for The Local East Village.
One of the first things I did was put together an aggregator of all the East Village news sources I could find, to try to quickly get an idea of what was already there. This has proved useful to the team, so they've added it to the navigation bar at the top of every page on the site.
But to get to #2 you have to first, imho, get to #1. Along with their course credit and a grade, our students should also come away with a feel for the community they covered, and probably more important if they're going to have a career in journalism, what it means to have the feel for a community.
PS: I used the River2 aggregator, which I wrote myself. It's pretty easy to set up and it's free. I recommend it to any news organization that wants to keep in touch with the community it's serving.
PPS: This is how NYU is viewed by some in the East Village.